Following soft leads, the Australian share market opened lower and is down at noon, as concerns for global growth mount.
The S&P/ASX 200 index is 15 points down at 4,259. On the futures market the SPI is 23 points lower.
Company news
Premier Investments Limited (ASX:PMV) has today revealed its first half financial results reporting a net profit of $38.5 million, a 2.4 per cent decline. Premier owns retail brands including Portmans, Dotti and Just Jeans. The retailer’s chief says it was a credible result considering the weaker retail sector. Shares in Premier are trading up 4.51 per cent at $5.33.
Woodside Petroleum Limited (ASX:WPL) says its Pluto LNG Project has reached ready for start up status, with first gas entering the processing train yesterday. The oil and gas company says it operates two out of the three LNG projects in Australia. Woodside expects the project to contribute 17 to 21 million barrels of oil equivalent to its production this year. Shares in Woodside are trading down 0.26 per cent at $34.80.
Best and worst performers
The best performing sector is Health Care gaining 42 points to 8,340. Shares in Australian Pharmaceutical have risen 3.85 per cent and trading at $0.27. Shares in Ramsay Health Care and CSL are also stronger.
The worst performing sector is Materials, falling 167 points to 10,816. Shares in Lynas have fallen 5.26 per cent, trading at $1.08. Shares in Resolute Mining and Aurora are also lower.
New Zealand
The NZSX50 is 11 points down at noon.
Top four stocks by turnover, Telecom Corporation of New Zealand is at the top of the list with stock down 0.84 per cent at $2.365, followed by Mainfreight, Fletcher Building and Telstra Corporation.
Gold and the dollar
Gold is trading at $US1,646 an ounce
The Australian dollar is buying $US1.0396
