The Australian share market opened more than one per cent lower today. A weak end on Wall Street last week has pulled our market down, as have the energy, materials, and financials sectors.
The S&P/ASX200 index is down 63 points and is 4,648 at noon. On the futures market the SPI is down 54 points.
Looking at company news: Rupert Murdoch’s News Corp (ASX:NWS) is set to publicly disclose how much it spends on corporate donations. The figures will be published on the company’s website on July 15, after the board of directors responded to growing pressure in the US from lobby groups, for companies to release their political spending. Shares in News Corp are down 0.12 per cent at noon and are trading at $17.04.
The South Australian government may force BHP Billiton (ASX:BHP) to make a commitment on local jobs. After releasing the Supplementary Environmental Impacts Statement, for the Olympic Dam expansion approval process, the South Australian premier, Mike Rann, said he will seek a guarantee on local jobs before letting the miner begin the project. Shares in BHP are down 1.65 per cent at noon and are trading at $43.59.
To the best and worst performers: The best performing sector is Telco Sevices, up 2 points to 1,021. Shares in Telstra have gained 0.17 per cent and trading at $2.985. Shares in Singtel were higher and Big Air Group were flat, at midday.
The worst performing sector is Energy, down 259 points to 15,816. Shares in Whitehaven are down 12.6 per cent to $5.62. Shares in Paladin and Santos are also lower at noon.
To New Zealand: The NZSX50 is flat. Taking a look at the top four stocks by turnover, Telecom Corporation of New Zealand is at the top of the list with stock up 1.08 per cent at $2.33 followed by Westpac, Fletcher Building and Sky City Entertainment.
To gold and the dollar: Gold is trading at $US1,490 an ounce and the Aussie dollar is buying US$1.0549.
