Following mixed leads, the Australian share market opened a touch higher today and remained steady through the morning, its 0.03 per cent down at noon. The slow pace of trades come in anticipation of US jobs data that’s expected tonight. Meanwhile, Macquarie Group boosted its net profit to $1.26 billion, coming in above forecasts.
Figures
The S&P/ASX 200 index is 0.9 points down at 5,448. On the futures market the SPI is 1 points lower.
Economic news
The Housing Industry Association has recorded an increase in new home sales of 5.8 per cent for the quarter. The Private New Home Sales data showed particular strength in the QLD housing market.
Company news
Mr Paul Ramsay AO, the founder of Ramsay Health Care Limited
(ASX:RHC) has died.
The 78 year old suffered a heart attack in Spain last week and passed away overnight at his home in Bowral. Mr Ramsay is known for his establishment of private hospitals, for expanding regional television and as a major benefactor to cultural and sporting organisations. Shares in Ramsey healthcare dropped half a per cent today to $43.89.
Private health insurer nib Holdings Limited
(ASX:NHF) has come out in support of the National Commission of Audit Report recommendations.
The company supports reforming Australia’s health care system and Managing Director Mark Fitzgibbon said funding future health care requires major reform and an expanded role of private health insurance. Mr Fitzgibbon suggests health care spending is growing at about $10 billion annually and that health care spending accounts for almost 20 per cent of all government spending. Shares in nib are up 1.81 per cent today to $2.82.
Best and worst performers The best performing sector is consumer staples gaining 39 points to 10,000. Shares in Treasury Wine Estates Limited
(ASX:TWE) have risen 10.29 per cent and trading at $4.24. Shares in Wesfarmers Limited
(ASX:WES) and Graincorp Limited
(ASX:GNC) are also stronger.
The worst performing sector is materials, falling 58 points to 9,987. Shares in Beadell Resources Limited
(ASX:BDR) have fallen 4.55 per cent, trading at $0.63. Shares in Northern Star Resources Limited
(ASX:NST) and EVOLUTION
(ASX:EVN) are also lower.
Gold and the dollar
Gold is trading at $US1,282 an ounce.
The Australian dollar is buying $US0.9273.
