Friday falls: Aus shares 0.6% lower at noon

Market Reports

by Carolyn Herbert

It has been a disappointing start to the Friday trading session for the Australian share market, following relatively flat leads from Wall Street overnight. The local bourse dropped at the open and has tracked sideways in the first two hours of trade, losing 0.6 per cent at noon. While most sectors are in the red, Energy is proving to be the biggest drag on the market, followed by losses in Materials and Utilities. The only sector that is tracking higher is Consumer Discretionaries, but only just.

The S&P/ASX 200 index is 34 points down at 5,727. On the futures market the SPI is 35 points lower.

Asian markets 

Checking in with how Asian markets are tracking now, Japan’s Nikkei has lost 0.2 per cent, Hong Kong’s Hang Seng has lost 0.04 per cent and the Shanghai Composite has lost 0.2 per cent.

Company news

TopBetta Holdings Limited (ASX:TBH) has gone into a trading halt, pending the release of a market sensitive announcement by the online betting company. TBH says the announcement relates to an update received overnight in respect to the Company’s UK license application. TopBetta says it should release the announcement no later than Monday. Shares in TopBetta last traded at $0.36.

Eden Innovations Limited (ASX:EDE) has provided a sales update on its EdenCrete liquid concrete mixture in the United States. The company says following its announcement in August of an order of US$100,000, it has received a second order for $US90,000 in Texas for its EdenCrete product. The company says it’s a sign of growing acceptance of the product in Texas, which is one of the largest concrete markets in the US. Shares in Eden Innovations are trading up 2.08 per cent at $0.24.

Best and worst performers

The best performing sector is Consumer Discretionaries, gaining 0.3 per cent to 2,191. Shares in Mantra Group (ASX:MTR) have risen 4.15 per cent and trading at $3.14. Shares in REA Group (ASX:REA) and Retail Food Group (ASX:RFG) are also stronger.

The worst performing sector is Energy, falling 1.45 per cent to 8,750. Shares in Whitehaven Coal (ASX:WHC) have fallen 2.87 per cent, trading at $2.88. Shares in Origin Energy (ASX:ORG) and Oil Search (ASX:OSH) are also lower.

Gold and the dollar

Gold is trading at $US1,2445 an ounce and the Australian dollar is buying $US0.7930.




 

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