Following soft leads the Australian share market opened flat this morning and is trading slightly lower at noon.
The S&P/ASX 200 indexis 10 points down at 4,298. On the futures market the SPI is 20 points lower.
Company newsProperty company Goodman Group
(ASX:GMG)has announced a $US890 million logistics and industrial North American partnership. The property investor launched the Goodman North America partnership with the Canada Pension Plan Investment Board. CEO Greg Goodman says the partnership will enable Goodman to enter North America in a measured way, aiming to target investment in logistics and industrial property in key North American markets. Shares in Goodman Group are trading up 0.92per cent at $3.83.
Arrium Limited
(ASX:ARI) formerly OneSteel has announced the results of New Zealand listed Steel & Tube Holdings Limited (NZSX:STU), of which it holds a 50.3 per cent stake. The NZ steel distributer’s net profit fell to $13 million in fiscal 2012, down $4 million from the previous year. Steel & Tube Holdings says its result was impacted by lower growth in its three key industry sectors, construction, manufacturing and rural. Shares in Arrium are trading steady at $0.82.
Best and worst performersThe best performing sector is Industrials gaining 33 points to 3,275. Shares in Boart Longyear Limited
(ASX:BLY) have risen 3.97 per cent and trading at $2.48. Shares in Qantas Airways Limited
(ASX:QAN) and CSR Limited
(ASX:CSR) are also stronger.
The worst performing sector is Telco Services, falling 26 points to 1,304. Shares in Telstra Corporation Limited
(ASX:TLS)have fallen 1.93 per cent, trading at $3.81. Shares in TPG Telecom Ltd
(ASX:TPM) are lower while M2 Telecommunications Group Limited
(ASX:MTU)are slightly higher.
Gold and the dollarGold is trading at $US1,614 an ounce.
The Australian dollar is buying $US1.057.
