With reality setting in ahead of Donald Trump’s inauguration as President of the US on Friday, the Australian share market has extended yesterday’s losses and is tracking 0.68 per cent lower at noon. The Financials and property sectors are proving to be the biggest drag on the market; with losses of around 1.2 per cent in all of the big four banks. Energy and Staples are currently performing the best with gains in the likes of Wesfarmers (ASX:WES) and Capilano Honey (ASX:CZZ).
The S&P/ASX 200 index is 38 points down at 5,661. On the futures market the SPI is 37 points lower.
Aurizon Holdings Limited (ASX:AZJ) has released its guidance for coal haulage volumes and says it will remain at 200 to 212 million tonnes for FY17. It also says December quarter 2016 rail volumes met expectations and volume guidance for the full year is 255 to 275 million tonnes. Aurizon also received an expansion volume notification from Whitehaven Coal to 9.6 million tonnes. Shares in Aurizon are trading down 2.34 per cent at $5.00.
SCA Property Group (ASX:SCP) says the issue price of stapled securities to be allocated under its 2016 Distribution Reinvestment Plan is $2.18 per unit. In respect to this, SCP has entered into an underwriting agreement with Moelis Australia Advisory to underwrite 40 per cent of the total distribution amount of $47 million. Shares in SCA Property Group are trading down 0.23 per cent at $2.18.
Best and worst performers
The best performing sector is Energy, gaining 0.44 per cent to 9,343. Shares in Beach Energy (ASX:BPT) have risen 1.97 per cent and trading at $0.78. Shares in Santos (ASX:STO) and Woodside Petroleum (ASX:WPL) are also stronger.
The worst performing sector is Financials, falling 1.3 per cent to 6,496. Shares in Bendigo and Adelaide Bank (ASX:BEN) have fallen 4.23 per cent, trading at $12.68. Shares in BT Investment (ASX:BTT) and Bank of Queensland (ASX:BOQ) are also lower.
Gold and the dollar
Gold is trading at $US1,217 an ounce.
The Australian dollar is buying $US0.7550.