The Australian share market took a slight dip at opening before getting back on track with a steady incline then falling back to close 0.02 per cent lower at noon.
The S&P/ASX 200 index is 1 point down at 6,725. On the futures market the SPI is 3 points lower.
Broker movesMorgans has rated Corporate Travel Management
(ASX:CTD) as an add. The broker says trade wars, Brexit and the Hong Kong protests made for a particularly tough first half for Corporate Travel Management, but are confident there are signs of life returning in the second half. The company has reiterated FY guidance and Morgans assumes modest first half earnings growth followed by double-digit growth in the second half as macro headwinds gradually ease.
Shares in Corproate Travel Management
(ASX:CTD)are trading 0.9 per higher at $20.18.
Company newsTransurban's
(ASX:TCL) financing vehicle Transurban Finance Company has successfully refinanced its existing $1,650 million corporate syndicated bank debt facility. The new facility comprises two tranches of $825 million.
Transurban CFO Adam Watson said the syndicated bank facility is one of the key funding sources supporting the ongoing construction of the West Gate Tunnel project and the delivery of Transurban’s development pipeline.
The refinancing comes as steady news for company after it completed its M5 West acquisition after last week upon receiving the necessary consents from the Roads and Maritime Services and M5 West financiers.
Shares in Transurban
(ASX:TCL) are trading 0.6 per cent lower at $14.66.
Best and worst performersThe best-performing sector is Energy, adding 1.6 per cent, while the worst performing sector is A-REIT, shedding 0.9 per cent.
The best performing stock in the S&P/ASX 200 is Speedcast International
(ASX:SDA) rising 5.8 per cent to 92 cents, followed by shares in Bravura Solutions
(ASX:BVS) and Galaxy Resources
(ASX:GXY).
The worst performing stock in the S&P/ASX 200 is Northern Star Resources
(ASX:NST), dropping 6.8 per cent to $8.98, followed by shares in Saracen
(ASX:SAR) and Resolute Mining
(ASX:RSG).
Commodities and the dollar Gold is trading at US$1,468 an ounce.
Iron ore price has shed 0.4 per cent to US$83.17
Iron ore futures are pointing to a fall of 1.7 per cent.
One Australian dollar is buying 68.83 US cents.
