It’s been a disappointing trading session for the Australian share market so far. It opened flat, then edged slightly into positive territory, but it has now plunged 0.51% at noon.
The biggest drag on the market is, by far, the healthcare sector – particular shares in Healthscope, which plummeted after it announced a surprise drop in patient numbers during the first quarter of this financial year.
Another stock which got heavily sold off today was SkyCity Entertainment. The casino operator’s shares fell 11% after it reported a drop in high-roller spending at its Auckland casino.
Currently, the S&P/ASX 200 is 28 points down at 5,415. On the futures market the SPI is 35 points lower.
Company newsOZ Minerals
(ASX:OZL) has released its third quarter report, which states that its copper production improved by 5% over the last quarter. The mining company also says its gold production guidance for 2016 was revised downwards – between 115,000 and 120,000 ounces. This was due to extended power outages at Prominent Hill in South Australia. Shares in OZ Minerals are trading down 1.53 per cent at $5.80.
Twenty-one people, including eight current and former employees of BHP Billiton
(ASX:BHP), have been charged with homicide as a result of the Samarco disaster, which happened in November, last year. Samarco is considered to be one of the largest environmental disasters in Brazil’s history. BHP says it rejects those criminal charges outright and will be defending its current and former staff who are subject of these criminal charges. Shares in BHP are trading up 0.46 per cent at $22.96.
Best and worst performersThe best performing sector is Staples, gaining just 0.1 per cent to 9,262. Shares in Asaleo Care have risen 2.18 per cent and are trading at $1.52. Shares in Woolworths and Treasury Wine Estates are also stronger.
The worst performing sector is Healthcare, falling 3.36 per cent to 20,618. Shares in Healthscope have plummeted by 17.41 per cent, and are trading at $2.42. Shares in Ramsay Health Care and Virtus Health are also lower.
Gold and the dollarGold is trading at $US1,266 an ounce.
The Australian dollar is buying $US0.7631.
