Treasury Wine Estates shares take a dip: ASX tracking 0.4 per cent lower at noon

Market Reports

by Rachael Jones

The Australian share market fell at the open and is now tracking 0.4 per cent lower at noon. Shares in Flexigroup (ASX:FXL) are up over 12 per cent today per cent after adding Myer, IKEA, City Fertility and other businesses to their company. Shares in regenerative medicine company Orthocell (ASX:OCC) skyrocketed today after announcing the first four patients benefited from the CelGro® nerve regeneration clinical trial. Treasury Wine shares have fallen after the CEO sells $7 million of shares. As for the sectors, they are all down with the Financial sector losing the least and the Information Technology sector is trailing behind in the first two hours of trade. The S&P/ASX 200 index is 25 points down to 6270. The SPI is 46 points down. 

Company news

Hardware distributor Dicker Data (ASX:DDR) has posted their quarter results showing profit before tax finalised at $13.5 million, tracking ahead of their forecast for the quarter, and 46.7 per cent higher than comparative quarter last year. Revenue for the quarter was $386.9 million, 21.1 per cent higher than the quarter last year. With Q1 results ahead of forecasts, they are confident that their full year result will be achieved and re-iterate full year pre-tax profit guidance of $51.4 million for FY19. Shares in Dicker Data (ASX:DDR) are up 8.8 per cent to $4.69

Australian strategic metals company TNG (ASX:TNG) is pleased to advise that patents for its proprietary TIVAN® hydrometallurgical process for the extraction and recovery of high-purity vanadium have now been extended with approval received from Vietnam. Shares in TNG (ASX:TNG) are flat at 10.5 cents.

Best and worst performers

The best-performing sector is Financials, despite still being down 0.1 per cent, while the worst performing sector is Information Technology, shedding 1.76 per cent.

The best performing stock in the S&P/ASX 200 is Northern Star Resources (ASX:NST), rising 3.5 per cent to $8.69, followed by shares in Saracen Mineral Holdings (ASX:SAR) and TPG Telecom (ASX:TPM).

The worst performing stock in the S&P/ASX 200 is Treasury Wine Estates (ASX:TWE), dropping 6.1 per cent to $15.18, followed by shares in Afterpay Touch Group (ASX:APT) and Wisetech Global (ASX:WTC).

Asian Markets

Japan's Nikkei is down 1.5 per cent , Hong Kong's Hang Seng is down 0.96 per cent and China's Shanghai Composite is down 1.6 per cent.

Commodities and the dollar

Gold is trading at US$1,287 an ounce.
Iron ore price rose 1.9 per cent to US$96.15
Iron ore futures are pointing to a fall of 0.6 per cent.
One Australian dollar is buying 70.15 US cents.

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