The Aussie sharemarket is down at midday. It slumped 2.8 per cent at open after a heavy fall of US and European stocks over the weekend.
The S&P/ASX200 index has lost 123 points and is 4,072 at noon. On the futures market the SPI is down 103 points.
Economic news
The ABS said the balance on goods and services for July was a surplus of $1.826 billion. Exports and imports were both down 1 per cent.
Company news
Nufarm Limited (ASX:NUF) has lifted its profit guidance. The company said underlying operating profit is set to exceed the top end of its $88 million to $94 million, but its full year results, which are expected to be released on September 28, are still subject to final audit. Shares in Nufarm Limited (ASX:NUF) are steady at $3.95.
Cochlear Limited (ASX:COH) shares took a tumble today after it announced a voluntary recall of one of its hearing implants. At 10.40am shares had fallen 18.41 per cent. Earlier trade saw the stock nose-dive more than 25 per cent. The company said the financial implant of the recall is difficult to predict. Shares in Cochlear Limited (ASX:COH) have lost 20.96 per cent, trading at $57.05.
Best and worst performers
The best performing sector is telcos, 14 points lower at 1,029. Shares in Hutchison have risen 8.47 per cent and trading at 6.4 cents. Shares in Enerji are flat and Amcom is down.
The worst performing sector is healthcare, losing 361 points to 7,235. Shares in Cochlear have lost 20.96 per cent. Shares in Ansell and CSL have also retreated.
New Zealand
The NZSX50 has lost 52 points. Taking a look at the top four stocks by turnover, Telecom corporation is at the top of the list with stock down 1.39 per cent $2.48 followed by Fletcher Building, Kiwi Income Property, and Westpac.
Gold and the dollar
Gold is trading at $US1,849 an ounce and the Australian dollar is buying $US1.0401 cents.
