Following mixed off shore leads, the Australian share market has started the session lower, with a fall in commodity prices weighing on the market in early trade. The ASX has dipped 0.2 per cent at noon.
The S&P/ASX 200 index is 8 points down at 4,351. On the futures market the SPI is 5 points lower.
Company news Financial services firm Clearview Wealth Limited
(ASX:CVW) has requested a trading halt today pending an announcement on a potential takeover offer. Clearview rejected a $220 million offer from private equity firm Crescent Capital Partners last month. Guinness Peat Group
(ASX:GPG) which holds a 47.8 per cent interest in the company, had labelled the offer inadequate. Shares in Clearview Wealth last traded at $0.58.
Worleyparsons Limited
(ASX:WOR) full year net profit slid 3 per cent to $353 million, but the result was in line with expectations. The engineering group indicated the strong Aussie dollar impacted its figures. Looking ahead, the group signalled good growth in the next 12 months but no exact guidance was provided. The company declared a final dividend of 51 cents per share. Shares in Worleyparsons are trading down 3.47 per cent at $25.29.
Best and worst performers The best performing sector is telco services gaining 11 points to 1,302. Shares in Telstra Corporation Limited
(ASX:TLS) have risen 0.8 per cent and trading at $3.79. Shares in SingTel are higher whilst TPG Telecom is trading steady at noon.
The worst performing sector is Materials, falling 124 points to 9,571. Shares in Atlas Iron Limited
(ASX:AGO) have fallen 6.64 per cent, trading at $1.41. Shares in Fortescue Metals Group and BlueScope Steel are also lower.
Gold and the dollar
Gold is trading at $US1,668 an ounce and the Australian dollar is buying $US1.037.
