In its final session for the year, the Australian share market has followed weak leads from the US and opened lower. The local bourse is, as expected, experiencing thin holiday trading, and has been in negative territory since the ASX opened for business, and it was tracking 0.35% lower before noon.
Gold prices have picked up, and miners like Newcrest Mining, Evolution Mining and Northern Star Resources have rallied. But investors are selling off the big four banks, BHP, Rio Tinto and particularly the big companies in the Staples sector – which are all in the red.
Before noon, the S&P/ASX 200 index was 20 points down at 5,679. On the futures market, the SPI is 34 points lower.
Company newsShine Corporate Ltd
(ASX:SHJ), better known as Shine Lawyers, has announced that its founders will take on key roles after the resignation of its Managing Director and CEO, Courtney Peterson. Simon Morrison will return to his previous role of Managing Director, while Stephen Roche will take a more active role as consultant working with the company’s senior leadership. Shares in Shine are trading 0.67% higher at 75 cents.
Actinogen Medical Ltd
(ASX:ACW) is currently in a Trading Halt at its own request pending an upcoming announcement. The announcement will be about the company’s application to the US FDA to initiate its XanADu Phase II clinical trial in the US of Xanamem, used to treat Alzheimer’s disease. Actinogen is in a trading flat and its shares last traded at 7 cents.
Best and worst performersThe best performing sector is Real Estate Investment Trusts, gaining 0.95 per cent to 1,398. Shares in Stockland have risen 1.21 per cent and trading at $4.58. Shares in Mirvac Group and Abacus Property Group are also stronger.
The worst performing sector is Staples, falling 0.91 per cent to 8,893. Shares in Woolworths have fallen 1.43 per cent, trading at $24.14. Shares in Wesfarmers and Metcash are also lower.
Gold and the dollarGold is trading at $US1,162 an ounce.
The Australian dollar is buying $US0.7239.
