The Australian share market has fallen 0.7 per cent at noon, trimming earlier losses after opening 1.5 per cent down. Fears over Japan's nuclear crisis have been fueled by US officials indicating the risk of a radiation leak is heightening.
The S&P/ASX200 index has fallen 28 points and is 4,530 at noon, and the SPI is currently down 47 points.
Company news: Responding to media speculation Tabcorp Holdings Ltd (ASX:TAH) has confirmed that is has received a proposal from TVN to acquire Sky Channel Pty Ltd. The gaming company says it has never before contemplated, nor is it now considering the sale of Sky Channel. Some reports have tipped the sale of Sky Channel could generate as much as $400 million. Shares in Tabcorp Holdings have gained 0.41 per cent and are trading at $7.27 at noon.
Shares in OrotonGroup Ltd (ASX:ORL) have fallen after the has luxury goods retailer booked a first half net profit of $15.4 million, unchanged from the year before. In the half year ended on 29 January like for like sales growth was flat while EBITDA grew 6.6. per cent to $26.1 million. OrotonGroup says the outlook for the second half remains cautious, though the company believes it is well-placed to meet changing customer expectations and uncertain market conditions. A fully franked interim dividend of 22 cents per share has been declared. Shares in OrotonGroup have tumbled 7.28 per cent and are trading at $8.15.
To the best and worst performers: The best performing sector is Telco Services adding 6 points to 897. Shares in Telstra have advanced 0.77 per cent and trading at $2.62. Shares in Singtel have firmed, while shares in Hutchison Telecommunications are steady at midday. The worst performing sector is Industrials, dropping 45 points to 3,536. Shares in Spotless Group have sagged 3.83 per cent to $1.76. Shares in Leighton Holdings and Qantas Airways have also dipped at midday.
New Zealand: The NZSX50 has lost 16 points. Taking a look at the top four stocks by turnover, Telecom Corporation of New Zealand is at the top of the list with stock down 0.5 per cent and trading at $1.98 followed by Fletcher Building, ANZ and Westpac.
Gold and the dollar: Gold is trading at $US1393 an ounce and the Aussie dollar is buying 97.69 US cents.
