The ASX saw a modest drop at the open and is now trading 0.1 per cent higher mid-session. The property majors are dragging on the index this morning. Meanwhile a strong performance from the banks and the consumer discretionary sector has offset some of the losses.
The S&P/ASX 200 index is 6 points higher at 6,216. On the futures market the SPI is flat.
Defence and space company, Electro Optic Systems Holdings (ASX:EOS) has secured a contract with the Australian Department of Defence through its Space Systems subsidiary. The contract is worth $5.1 million. It commences in the fourth quarter of 2020 and will run for 2 years. Shares in Electro Optic Systems Holdings (ASX:EOS) are trading 2.2 per cent higher at $6.04 at noon.
Online real estate classifieds company, REA Group (ASX:REA) has foreshadowed that independent non-executive director, Roger Amos will retire at the company’s upcoming Annual General Meeting. Roger served as Chairman of the Audit, Risk & Compliance Committee and was a member of the Human Resources Committee. The board is on the hunt for a new independent non-executive director and expects the search be completed by the end of the calendar year. Shares in REA Group (ASX:REA) are trading 0.1 per cent lower at $122.51 at noon.
Best and worst performers
The best-performing sector is Consumer Discretionary, adding 0.7 per cent, while the worst performing sector is REITs, shedding 0.9 per cent.
The best performing stock in the S&P/ASX 200 is Unibail-Rodamco-Westfield (ASX:URW), rising 12.9 per cent to $3.37 followed by shares in G.U.D Holdings (ASX:GUD) and Medibank Private (ASX:MPL).
The worst performing stock in the S&P/ASX 200 is Atlas Arteria (ASX:ALX), dropping 3.5 per cent to $6.13, followed by shares in Mirvac Group (ASX:MGR) and Mesoblast (ASX:MSB).
Commodities and the dollar
Gold is trading at US$1,910 an ounce.
Iron ore price fell 0.7 per cent to US$118.70.
Iron ore futures are pointing to a fall of 0.1 per cent.
One Australian dollar is buying 70.86 US cents.