Despite losses in offshore markets, the Australian share market edged higher at open and is 0.26 per cent up at noon.
The S&P/ASX 200 index is 11 points up at 4,408. On the futures market the SPI is 14 points higher.
Company news
Westfield Retail Trust (ASX:WRT) inked a deal with AMP New Zealand for the sale of Westfield downtown in Auckland CBD. The trust has agreed on a sale price of about $71.4 million, which it will share with fellow half owner Westfield Retail Group (ASX:WDC). Proceeds from the sale will be used to repay debt and will have no bearing on Westfield Retail Trusts annual earnings and distribution. Shares in Westfield Retail Trust are trading up 1.21 per cent at $2.93.
FKP Property Group (ASX:FKP) has completed the retail component of its shareholder entitlement almost a month after opening the offer. The retail component will enable eligible retail stapled security holders to acquire new stapled securities in addition to their existing holdings at a cost of $0.20 each. Allotment and issue of securities issued under the retail entitlement offer is scheduled for the 27th of September. Shares in FKP are trading down 1.96 per cent at $0.25.
Best and worst performers
The best performing sector is Real Estate investment trusts gaining 5 points to 931. Shares in DEXUS Property Group (ASX:DXS) have risen 1.59 per cent and trading at $0.96. Shares in Westfield Retail Trust (ASX:WRT) and CFS Retail Property Trust (ASX:CFX) are also stronger.
The worst performing sector is Healthcare, falling 18 points to 10,124. Shares in Primary Health Care Limited (ASX:PRY) have fallen 1.4 per cent, trading at $3.53. Shares in Sonic Healthcare Limited (ASX:SHL) and CSL Limited (ASX:CSL) are also lower.
Gold and the dollar
Gold is trading at $US1,774 an ounce and the Australian dollar is buying $US1.046.
