The Australian share market has had a muted start to this Friday session after lack lustre leads from Wall Street. The local bourse fell into negative territory at the open but has since recovered a little and is tracking pretty much flat or 0.13 per cent higher at noon. The energy space is proving to be the biggest drag on the index so far despite a jump in the oil price overnight. Utilities are leading the charge with a jump in Duet Group after its latest financial results impressed investors.
The S&P/ASX 200 index is 7 points up at 5,515. On the futures market the SPI is up 7 points.
Company newsSantos Limited
(ASX:STO) has posted a half year net loss of US$1.1 billion versus a profit of US$30 million in the previous corresponding period. The company has maintained production guidance of 53 to 63 million barrels of oil equivalent for 2016. Shares in Santos are trading down 0.2 per cent at $4.94.
Automotive Holdings Group Limited
(ASX:AHG) says it has reported record revenue and profit for FY16. The car dealership group recorded revenue of $5.63 billion which was up 7.2 per cent on the previous corresponding period. Statutory net profit came in at $90.1 million up 2.2 per cent on last year. Shares in AHG last traded at $4.82.
Best and worst performersThe best performing sector is Utilities, gaining 1.2 per cent to 7,559. Shares in Duet Group have risen 3.21 per cent and trading at $2.57. Shares in Spark Infrastructure and Ausnet Services are also stronger.
The worst performing sector is Energy, falling 0.3 per cent to 8,857. Shares in Whitehaven Coal have fallen 11.79 per cent, trading at $1.87. Shares in Origin Energy and Santos are also lower.
Gold and the dollarGold is trading at $US1,347 an ounce.
The Australian dollar is buying $US0.7644.
