The Australian share market fell sharply lower at the open but has recovered most of its losses at noon, as offshore markets remain cautious ahead of potential new stimulus from the US Federal Reserve and the European Central Bank.
The S&P/ASX 200 index is 9 points down at 4,325. On the futures market the SPI is 4 points lower.
Company news
Asciano Limited
(ASX:AIO) says its Pacific National Rail business has inked a deal with Linfox Australia Pty Ltd to provide rail haulage services. The contract is expected to generate revenues of up to $400 million over the next five years. The new agreement will commence from January 1 next year. Shares in Asciano are trading up 0.22 per cent at $4.47.
Shares in CSL Limited
(ASX:CSL) have risen after it announced it has secured a contract with the US Department of Health and Human Services. Under the terms of the agreement, the drug maker will supply pre-pandemic and pandemic vaccine antigens to the US national stockpile . Shares in CSL are trading up 1.25 per cent at $44.43.
Best and worst performers The best performing sector is health care gaining 98 points to 10,289. Shares in Sigma Pharmaceutical Limited
(ASX:SIP) have risen 1.52 per cent and trading at $0.67. Shares in CSL and ResMed are also stronger.
The worst performing sector is Utilities, falling 48 points to 5,008 Shares in SPAusNet
(ASX:SPN) have fallen 0.97 per cent, trading at $1.02. Shares in APA Group and Spark Infrastructure Group are also lower.
IPOs Icar Asia
(ASX:ICQ) floated today, with an issue price of 20 cents opening and currently trading at 21 cents.
Gold and the dollar
Gold is trading at $US1,731 an ounce and the Australian dollar is buying $US1.032
