The Australian share market is flat at noon, with strength in the banks helping offset losses in the resource sector. Shares in mining giant BHP Billiton Ltd (ASX:BHP) have dipped after posting a record first-half net profit and, shares in Westfield Group (ASX:WDC) have also eased after delivering a turnaround full year profit.
The S&P/ASX200 index has lost 7 points and is 4,924 at noon. On the futures market the SPI down 11 points.
Company news: Domino's Pizza Enterprises Ltd (ASX:DMP) has lifted its half year earnings by 17 per cent, announcing a net profit of $10.2 million for the six months to 31 December 2010. The pizza maker and deliverer says revenue from ordinary activities rose 1.25 per cent to $120.9 million while EBITDA was up 18.5 per cent to $18.8 million. A fully franked interim dividend of 10.4 cents has been declared. Domino’s has confirmed full year guidance of 15 per cent growth. Shares in Domino's Pizza Enterprises are steady at $6.26.
Shares in Biota Holdings Ltd (ASX:BTA) have slumped following the influenza vaccine developer posting a half year loss of $15.95 million. In the prior corresponding period Biota reported a profit of $33.49 million, during the peak of the swine flu pandemic. Biota Holdings says it will now work to prioritise programs likely to deliver commercial returns in the near term. Shares in Biota Holdings have plunged 15.36 per cent and are trading at $1.295.
Market indices: The best performing sector is Telco Services with the index firming 3 points to 1,003. Shares in iiNet have added 1.15 per cent to $2.63. Shares in Hutchinson Telecommunications and Telstra are also stronger at midday. The worst performing sector is Materials, dropping 116 points to 14,372. Shares in Indophil Resources have fallen 2.44 per cent to $0.80. Shares in Lynas Corporation and BHP Billiton are also weaker at midday.
To New Zealand: The NZSX50 has eased 1 point. Taking a look at the top 4 stocks by turnover, Westpac is at the top of the list with stock up 1.55 per cent at $32.70 followed by Fletcher Building, Telecom of New Zealand and ANZ.
To gold and the dollar: Gold is trading at $US1,372 an ounce and the Aussie dollar is buying $99.79 US cents.
