The Aussie sharemarket has dipped at midday with all sectors in the red, after opening one per cent lower on the back of disappointing US jobs data.
The S&P/ASX200 index has lost 87 points and is 4,156 at noon. On the futures market the SPI is down 82 points.
Economic news
The Australian Industry Group/Commonwealth Bank Australian Performance of Services Index (PSI) rose 3.3 points to 52.1 points in August.
And Job advertisements in Australia fell in August, marking the fourth drop in five months. ANZ’s jobs survey showed total job ads sank by 0.6 per cent to an average of 186,331 advertisements per week, seasonally adjusted.
Company news
Macarthur Coal Limited (ASX:MCC) has had its offer period from ArcelorMittal and Peabody Energy extended to September 27. The $4.83 billion takeover bid was last week increased from $15.50 to $16 per share. Shares in Macarthur Coal Limited (ASX:MCC) were 0.25 per cent higher, trading at $15.99.
Westpac Banking Corporation’s (ASX:WBC) Bank of Melbourne is going ahead with its plans to rapidly expand branch numbers by seven across Melbourne's suburbs by the end of this month, including two today. Westpac is also in the process of rebranding its St George business across Victoria as Bank of Melbourne, which will see a further 90 branches open over the next five years. Shares in Westpac Banking Corporation (ASX:WBC) have lost 2.54 per cent, trading at $19.99.
Best and worst performers
The best performing sector was Consumer staples, 72 points lower at 7,325. Shares in Metcash rose one per cent and were trading at $4.06. Shares in Foster’s and Woolworths were down.
The worst performing sector was energy, losing 382 points to 13,060. Shares in Paladin lost 4.26 per cent and were trading at $1.91. Shares in Oil Search and Santos also retreated.
New Zealand
The NZSX50 has lost 26 points. Taking a look at the top four stocks by turnover, Rubicon at the top of the list with stock up 3.85 per cent at 54 cents followed by Comvita, Oceanagold, Vector.
Gold and the dollar
Gold was trading at $US1,880 an ounce and the Australian dollar was buying $US1.0595.
