Following soft leads the Australian share market has opened barely changed as uncertainty over Greece’s debt plan lingers. At home a series of profit results have been released, CBA pleasing investors with a 19 per cent increase in its first half net profit. Most sectors are trading mixed, with property stocks higher and health stocks lower.
The S&P/ASX 200 index is flat at 4,243. On the futures market the SPI is 5 points lower.
Company news
Shares in Westfield Group (ASX:WDC) have gained after announcing two new major strategic transactions and a jump in its full year net profit. The shopping centre owner and operator has today posted a full 2011 year net profit of $1.53 billion, up 37.6 per cent from the year before. Westfield has also today announced a new $4.7 billion joint venture over 12 assets in the US with Canada Pension Plan Investment Board, and, the sale of its interest in three non-core UK centres for about $240 million. Shares in Westfield Group have gained 5.73 per cent and are trading at $8.85.
Shares in Domino's Pizza Enterprises Limited (ASX:DMP) have risen on news the pizza maker’s net profit lifted 23 per cent to $12.6 million in the first half of the 2012 financial year. Domino’s has also boosted its earnings outlook, forecasting its net profit to grow 20 per cent in the year ahead. The company says despite some foreseeable labour and economic challenges, it’s confident of delivering strong same store sales for the rest of the year. Shares in Domino's Pizza Enterprises have risen 7.07 per cent and are trading at $7.75.
Best and worst performers
The sectors are trading mixed: The best performing sector is Real Estate Investment Trusts rising 22 points to 819. Shares in Westfield Group have gained 5.73 per cent and trading at $8.85. Shares in Westfield Retail Trust and Dexus Property Group are also stronger.
The worst performing sector is Health Care, falling 45 to 7,828. Shares in Primary Healthcare are 6.06 per cent lower, trading at $2.79. Shares in Sonic Healthcare and Mesoblast have also lost value.
New Zealand
The NZSX50 is 33 points lower at noon.
Taking a look at the top four stocks by turnover, Fletcher Building is at the top of the list with stock down 3.28 per cent to $6.49, followed by Telecom Corporation of New Zealand, Westpac and AMP New Zealand Office.
Gold and the dollar
Gold is trading at $US1,721 an ounce and the Australian dollar is buying $US1.0698.
