A choppy day of trade on the Australian share market has seen equities open lower, recover losses but fall again to be 0.5 per cent down at noon. Most sectors are losing value with energy, health and telco sectors bucking the trend.
The S&P/ASX200 index has lost 14 points and is 4,291. On the futures market the SPI is 21 points lower.
Economic news
More new cars were sold last month. According to the Australian Bureau of Statistics new vehicle sales increased 1.1 per cent to 88,182 units in October. Over the year new vehicle sales were up 4.4 per cent.
Company news
Origin Energy Limited (ASX:ORG) plans to raise $500 million through a note issue to partially fund is contribution to the $18 billion Australia Pacific LNG project in Gladstone, Queensland, and for general corporate purposes. The energy company has lodged a prospectus with the Australian Securities and Investments Commission for an offer of dated, unsecured, subordinated, cumulative notes. Shares in Origin Energy have firmed 0.14 per cent, trading at $14.56.
Aurora Oil & Gas Limited (ASX:AUT) says its revenue rose 32 per cent to $US23 million in the third quarter. In the three months ended on September 30, the Australian and Toronto listed oil and gas company’s production increased 43 per cent. Shares in Aurora Oil & Gas have fallen 1.75 per cent, trading at $3.37.
Best and worst performers
Most sectors have slipped: The best performing sector is Health Care, lifting 46 points to 8,019. Shares in Antisense Therapeutics have gained 6.25 per cent and trading at $0.017. Shares in Sonic Healthcare and CSL are also stronger.
The worst performing sector is Real Estate Investment Trusts, retreating 7 points to 802. Shares in Goodman Group have lost 2.06 per cent and trading at $0.617. Shares in Mirvac Group and Stockland have also dropped at noon.
New Zealand
The NZSX50 is 9 points lower: Taking a look at the top four stocks by turnover, Telecom Corporation of New Zealand is at the top of the list with stock easing 0.76 per cent to $2.60 followed by Westpac, Fletcher Building and The Warehouse Group.
Gold and the dollar
Gold is trading at $US1,781 an ounce. The Australian dollar is buying $US1.0219.
