Midday: Aus shares flat at noon

Market Reports

With little being offered by mixed US leads, the Australian share market opened slightly stronger however has retreated to be flat at noon, with gains among the big banks being counter-balanced by losses among the major miners, which have instilled the Materials sector as the worst performer of the majors thus far. 
 
The S&P/ASX 200 index is 3 points up at 5,355. On the futures market the SPI is 7 points lower. 
 
Company news 
 
Mayne Pharma Group Limited (ASX:MYX) has lifted revenues by 230 per cent to $45 million in the first four months of fiscal 2014, boosted by the acquisition of US company Metrics Inc and a lift in sales of its in-house drug Doryx. In the year to June, the pharmaceutical company posted revenues of $85 million, reflecting the initial contribution from the Metrics acquisition. Mayne current has rights to sell 12 products, and plans to double the number of products it has on the market. Shares in Mayne Pharma are trading up 4.08 per cent at $0.77. 
 
Four under pressure directors have resigned from Dart Energy Limited (ASX:DTE) this morning, ahead of a shareholder vote at the companies AGM. The Coal seam and Shale gas explorer says four outgoing directors will be replaced by four recommendations from major shareholder New Hope Corporation, which had been striving to overthrow the dart board after what it described as a sad and long history of failures. Shares in Dart Energy are trading flat at $0.12. 
  
Best and worst performers

The best performing sector is Healthcare gaining 52 points to 14,283. Shares in Mesoblast Limited (ASX:MSB) have risen 4.24 per cent and trading at $6.28. Shares in Sirtex Medical Limited (ASX:SRX) and CSL Limited (ASX:CSL) are also stronger. 
 
The worst performing sector is Materials, falling 54 points to 10,061. Shares in BlueScope Steel Limited (ASX:BSL) have fallen 3.99 per cent, trading at $5.54. Shares in Atlas Iron Limited (ASX:AGO) and Mount Gibson Iron Limited (ASX:MGX) are also lower. 
 
Gold and the dollar

Gold is trading at $US1,252 an ounce and the Australian dollar is buying $US0.9191.

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