Aussie shares have given up earlier gains and are trading flat at midday as investors stew over another possible interest rate hike and the new resource tax.
The S&P/ASX200 index is 6 points lower at 4,780 and on the futures market, the SPI200’s down 12.
In company news: Rubber glove maker Ansell Ltd (ASX:ANN) has launched a surgery glove in Australia which it describes as the world’s first anti-microbial. According the Australian Associated Press, the new powder-free glove called GAMMEX, carries an anti-microbial coating that has the potential to kill viruses and bacteria within 60 seconds. AAP reports a spokesperson for the company saying that while it is too early to know how much this new product will earn the company, it is expected to be a significant product. Shares in Ansell fell 0.08% to $12.87.
And iron ore explorer Cazaly Resources Ltd (ASX:CAZ) has placed its shares in a trading halt ahead of an announcement regarding a capital raising. In a statement to the ASX, the company says its shares will remain in a trading halt until Thursday May 6 or an announcement is made. In December 2009, Cazaly announced that it has raised $2.24 million to fund the ongoing development of the company’s Parker Range Hamersley projects. Cazaly Resources shares last traded at $0.63.
Turning now to market indices: The best performing sector at midday is the Health Care index, up 110 points at 8,577. Shares in CSL rose 2.46% to $33.35. Shares in Healthscope and Pharmaxis are also higher at noon.
The worst performing sector is the Materials index, down 181 points to 11,804. Shares in Iron Ore Holdings declined 6.81% to $1.985, while shares in Independence Group and Atlas Iron are also lower.
Looking to New Zealand and the NZSX50 is up 13 points. Taking a look at the top 4 stocks by turnover: Top of the list is Telecom of New Zealand stock steady at $2.17 followed by; Air New Zealand, Sky Network Television and Infratil.
To gold and the dollar: Gold is trading at US$1,180.70 an ounce and the Aussie dollar is trading at 92.58 US cents.
