Following mixed leads the Australian share market opened lower and is 0.2 per cent down at noon.
The S&P/ASX 200 index is 11 points down at 4,276. On the futures market the SPI is 11 points lower.
Company news
Leighton Holdings Limited (ASX:LEI) subsidiary John Holland's 50:50 joint venture with Macmahon Holdings Limited (ASX:MAH) has won a development contract worth $340 million. Shares in Leighton Holdings are trading 2.41 per cent higher at $24.19.
Downer EDI Limited (ASX:DOW) has entered into a framework agreement with Rio Tinto’s Limited (ASX:RIO) iron ore division. The agreement provides Downer with preferred contractor status for Rio’s Western Australia operations. Shares in Downer are trading 1.01 per cent higher at $4.00.
Best and worst performers
The best performing sector is Utilities gaining 52 points to 4,783. Shares in APA Group have risen 2.38 per cent and trading at $5.17. Shares Spark Infrastructure Group and Hastings Diversified Utilities Fund are also stronger.
The worst performing sector is Materials, falling 165 points to 11,068. Shares in Ramelius Resources have fallen 5.79 per cent, trading at $0.89.5. Shares in CGA Mining and Intrepid Mines are also down at noon.
New Zealand
The NZSX50 is up 34 points higher at noon: Taking a look at the top four stocks by turnover, Telecom Corporation of New Zealand is at the top of the list with stock 2.02 per cent higher at $2.53, followed by Sky City Entertainment, Tourism Holdings and Fletcher Building.
Gold and the dollar
Gold is trading at $US1,644 an ounce.
The Australian dollar is buying $US1.0435.
