The Australian sharemarket is trading flat at noon, as investors take a wait and see approach ahead of the European debt summit.
The S&P/ASX200 index has added 8 points to 4,153. On the futures market the SPI is 3 points higher.
Economic news
The Import Price Index recorded no change in the September quarter. The Export Price Index rose 4% in the same period.
Company news
Woodside Petroleum Limited (ASX:WPL) has increased third quarter revenue by 27 per cent to $1.3 billion, up from $1 billion in the same period a year earlier. The oil and gas company says a surge in liquefied natural gas revenues was responsible for the jump, despite lower production levels due to outages and planned shutdowns. Woodside shares have gained 0.33 per cent and are trading at $33.71.
SEEK Limited (ASX:SEK) is set to float its Chinese jobs website. That’s according to a report by The Australian Financial Review. The website is the second largest online jobs ads company in China. The initial public offering on the Nasdaq was expected to value the company at more than $US1 billion. Seek shares have gained 7.69 per cent and are trading at $5.88.
Best and worst performers
The best performing sector is Consumer Discretionary, gaining 10 points to 1,226. Shares in Quickflix have increased 8.97 per cent and are trading at $0.085. Shares in David Jones and JB Hi-Fi are also stronger.
The worst performing sector is Consumer Staples, falling 95 points to 7,464. Shares in Woolworths have slipped 1.83 per cent and are trading at $24.14. Shares in Coca-Cola Amatil are lower and Metcash shares are flat.
IPO
Blackwall Property Funds Limited (ASX:BWF) started trading today at $0.27, $0.23 below its issue price of $0.50. It’s now currently trading at $0.25.
New Zealand
The NZSX50 is 4 points stronger.
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 0.39 per cent at $2.58 followed by Fletcher Building, Auckland International Airport and Westpac.
Gold and the dollar
Gold is trading at $US1,617 an ounce and the Australian dollar is buying $US1.0237 cents.
