It looks like the ASX has managed to fix the technical issues which it encountered yesterday. Today, the local share market opened at 10am, like any other normal day, and share trading is proceeding smoothly.
The Australian share market opened slightly higher, but after 10 minutes of trading, sunk into negative territory. It seems investors are anxious about the upcoming Bank of Japan and US Fed interest rates decisions later this week.
The local share market is currently tracking 0.18 per cent down at midday.
The ASX 200 index is 11 points down at 5,284. On the futures market, the SPI is flat.
Economic newsThe ABS has released its June-quarter Residential Property Price Index. These figures reveal that, in the three months since the March-quarter, Sydney prices rose by 2.8% which is the most out of any capital city.
However, when comparing the June-quarters of this year with last year, Melbourne had the biggest increase in property prices – 8.2% over the year.
Over the last quarter, the cities which had the biggest fall in property prices were Darwin (which fell by 2.4%) and Perth (which fell by 1.2%).
Company newsCarnarvon Petroleum Ltd
(ASX:CVN) has been awarded an oil exploration permit, situated on the flanks of the Dampier Sub-Basin in Western Australia. This permit has an area of 1,210 square-kilometres, and is near the Stag and Wandoo oil fields, as well as the Reindeer gas field. Shares in Carnarvon are trading down 2.27 per cent at 11 cents.
Ingenia Communities
(ASX:INA) has completed its due diligence and received final Board approval for two key acquisitions in Sydney and Hervey Bay. The first one is the a freehold caravan park called Avina Van Village, which Ingenia will pay $33 million for. The other is the Happy Wanderer Caravan Park on Queensland’s Fraser Coast. The completion date will be in October, next month. Shares in Ingenia are trading down 1.08 per cent at $2.74.
Best and worst performersThe best performing sector is Materials, gaining 0.65 per cent to 8,616. Shares in OZ Minerals have risen 3.97 per cent and are trading at $6.28. Shares in Evolution Mining and South32 are also stronger.
The worst performing sector is Telcos, falling 2.3 per cent to 1,829. Shares in TPG have plummeted 18.85 per cent, and are trading at $9.60. Although TPG posted some positive full year results, its earnings guidance were below expectations. Shares in Vocus Communications and Telstra are also lower.
Gold and the dollarGold is trading at $US1,316 an ounce.
The Australian dollar is buying $US0.754
