Tracking sideways: Aus shares 0.1% higher at noon

Market Reports

by Carolyn Herbert

It has been a disappointing start to the session for the Australian share market, opening in the red, but managing to gain back a little momentum in the first two hours of trade and now tracking flat or 0.1 per cent higher at noon. Healthcare has rebounded this session after the sector was sold off yesterday, with gains in the likes of CSL Limited (ASX:CSL) and Sirtex Medical (ASX:SRX). The banks have experienced a small retrace today, with NAB the only one out of the big four to buck the trend up 0.2 per cent.

The S&P/ASX 200 index is 6 points higher at 5,568. On the futures market the SPI is 3 points lower.

Company news

Aconex Limited (ASX:ACX) has announced a 3 year enterprise agreement with Fletcher Building Limited (ASX:FBU) one of the largest tier one main contractors in New Zealand. Under the agreement, Fletcher will standardise on Aconex Solutions across all construction business divisions. Aconex will also help Fletcher Infrastructure manage project information and processes for government and infrastructure developments. Shares in Aconex are trading up 3.22 per cent at $4.49.

Godfreys Group Limited (ASX:GFY) has appointed Andrew Ford as Chief Financial Officer of the vacuum cleaner retailer. He will join the company in mid January and will replace current CFO Bernie Bicknell who will be retiring after 7 years in the role. Andrew previously held the position of deputy CFO of Skilled Group. Shares in Godfreys are trading flat at $1.02.

Best and worst performers

The best performing sector is Healthcare, gaining 1 per cent to 19,050. Shares in CSL Limited (ASX:CSL) have risen 2.32 per cent and are trading at $94.24. Shares in Sirtex Medical (ASX:SRX) and Sigma Pharmaceuticals (ASX:SIP) are also stronger.

The worst performing sector is Financials excluding REITs, falling 0.2 per cent to 7,163. Shares in Henderson Group (ASX:HGG) have fallen 1.41 per cent, trading at $3.85. Shares in CYBG (ASX:CYB) and BT Investment (ASX:BTT)are also lower.

IPOs

Litigation Capital Management Limited (ASX:LCA) started trading today. The litigation funding company listed at $0.70, opened at $0.795 and is trading at $0.68.

Gold and the dollar

Gold is trading at $US1,164 an ounce.
The Australian dollar is buying $US0.7503.




 

Carolyn Herbert

Finance News Network
Carolyn joined FNN in August 2015 as the Head of News and also presented the Market at Midday and the Market Wrap. With more than five years of broadcast journalism experience, Carolyn has worked as a finance anchor on the Sky News Business channel and as an anchor and reporter for ABC News. She is also a qualified corporate lawyer specialising in IPOs, takeovers and mergers and acquisitions.