It has been a disappointing start to the trading session for the Australian share market, opening in the red and continuing to lose momentum in the first two hours of trade tracking 0.24 per cent lower at noon. After being the best performer yesterday, healthcare is the worst performing sector so far this session, followed by the materials space with losses in the big miners BHP Billiton
(ASX:BHP) and Rio Tinto
(ASX:RIO). REITs are faring the best, followed by Utilities.
The S&P/ASX 200 index is 14 points down at 5,803. On the futures market the SPI is 20 points lower.
Company newsWhitehaven Coal Limited
(ASX:WHC) has reported a net profit after tax of $157.5 million for the half year ended 31 December 2016. Sales revenue was also up to $823.5 million, a 43 per cent increase on the previous corresponding period. Full year saleable coal is expected to be in the range of 21 to 22 million tonnes. Shares in Whitehaven Coal are trading down 2.04 per cent at $2.88.
Virgin Australia Limited
(ASX:VAH) has announced it will be operating flights from Australia to Hong Kong in mid 2017. It today announced the details of its alliance agreement with HNA Aviation, Hong Kong Airlines and HK Express, with the proposed alliance submitted to the ACCC for approval. The comes as Virgin Australia reports a $21.5 million Group Statutory Loss. Shares in Virgin Australia are down 1.28 per cent at $0.19.
Best and worst performersThe best performing sector is REITs, gaining 1 per cent to 1,379. Shares in Goodman Group
(ASX:GMG) have risen 1.93 per cent and trading at $7.40. Shares in Vicinity Centres
(ASX:VCX) and Scentre Group
(ASX:SCG) are also stronger.
The worst performing sector is Healthcare, falling 1.5 per cent to 21,782. Shares in Sigma Pharmaceuticals
(ASX:SIP) have fallen 5.22 per cent, trading at $1.18. Shares in Ansell Limited
(ASX:ANN) and CSL Limited
(ASX:CSL) are also lower.
Gold and the dollarGold is trading at $US1,238 an ounce and the Australian dollar is buying $US0.7692.
