Back in the black: Aus shares 0.42% higher at noon

Market Reports

by Carolyn Herbert

It has been a positive start to the trading day for the Australian share market, making a modest bounce at the open and tracking sideways in the first two hours of trade, tracking 0.42 per cent higher at noon. While sectors are mixed today, it’s the Health Care space that is leading the gains with heavyweight CSL Limited (ASX:CSL) up close to 1 per cent. The Materials and Financials sectors are also tracking higher. On the other hand the Energy space is leading the losses, followed by selling in Discretionaries and Telcos.

The S&P/ASX 200 index is 24 points up at 5,768. On the futures market the SPI is 33 points higher.

Asian markets

Checking in with how Asian markets are tracking now, Japan’s Nikkei has lost 1.28 per cent, Hong Kong’s Hang Seng has lost 0.09 per cent and the Shanghai Composite has lost 0.21 per cent.

Economic news

According to latest figures from the Australian Bureau of Statistics, the total value of dwelling commitments was flat in June 2017, while the seasonally adjusted series rose 0.8 per cent for the month. The number of finance commitments for the construction of dwellings for owner occupation rose 1.9 per cent in June 2017, following the same rise in May.

Company news

ResApp Health (ASX:RAP) shares have been sold off following the company’s latest update on its SMARTCOUGH- C Study. The medical device company which developed a smart phone app aiming to diagnose respiratory disorders, says many issues were revealed in the quality of cough recordings. The study also revealed that many patients were treated before their coughs were recorded. Shares in ResApp are trading down 77.42 per cent at $0.07.

Bellamy’s Australia Limited (ASX:BAL) has announced that Camperdown Powder’s suspended licence from the CNCA has now been lifted. The company has been diligently working with the CNCA and says it’s pleased its responses have been accepted by the CNCA. Shares in Bellamy’s Australia are trading up 8.88 per cent at $8.58.

Best and worst performers

The best performing sector is Health Care, gaining 0.73 per cent to 22,631. Shares in Sonic Healthcare (ASX:SHL) have risen 1.46 per cent and trading at $22.97. Shares in CSL Limited (ASX:CSL) and Sigma Healthcare (ASX:SIG) are stronger.

The worst performing sector is Energy, falling 0.74 per cent to 8,816. Shares in Santos (ASX:STO) have fallen 1.75 per cent, trading at $3.37. Shares in Origin Energy (ASX:ORG) and Caltex Australia (ASX:CTX) are also lower.

Gold and the dollar

Gold is trading at $US1,265 an ounce and the Australian dollar is buying $US0.7866.


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