Soggy start: Aus shares 0.24% lower at noon

Market Reports

by Jessica Amir

After Wall Street closed in the red for its second week since August, the Australian share market took a dive into the red at the open, with over half of our market swimming in negative territory.

The ASX200 shied further away from the 6,000 mark, but has started to claw back some of the early losses with gains in the energy sector, helping to ease the pressure.

Energy heavyweights like Worleyparsons (ASX:WOR) and Santos (ASX:STO) gained over 2 per cent, fuelled by the crude oil price jump of 2.6 per cent. 

Healthcare, Telcos and Materials are also mustering up, with Bluescope (ASX:BSL) steeling 2.4 per cent of gains.

Utilites are leading the decliners though, followed by Industrials, after Qantas (ASX:QAN) fell 1.5 about after it announced a its half way through its $373 million buy-back.

The S&P/ASX 200 index is 14 points down or 0.24 per cent lower at 5,943.

On the futures market the SPI is 15 points lower.

Company news

Dreamworld owner, Ardent Leisure (ASX:AAD) advised its bowling and entertainment business' EBITDA is expected to rise 20 per cent on the prior corresponding period, following the re-opening of Kingpin Crown. Meantime its core EBITDA is ‘tracking broadly in line with expectations for FY18’. In the businesses Chairman address it also advised it’s looking forward to the benefits from the holiday season. Ardent Leisure (ASX:AAD) shares are 0.3 per cent higher to $1.76.

Financial giant, UBS Group and its related entities sold its substantial holding in Domino’s Pizza Enterprises (ASX:DMP). Domino’s Pizza Enterprises shares are trading 0.8 per cent lower at $45.65.

Satellite company, Sky and Space Global (ASX:SAS) has selected UK software and service SCISYS for its constellation nanosatellites simulator. The project will be delivered in 12 months time. Shares in Sky and Space Global (ASX:SAS) are trading flat at $0.17.


Superannuation fund, and financial services administration business, Netwealth Group (ASX:NWL) started trading today. It floated with an issue price of $3.70, opened at $4.88 and is currently trading at $5.05.

To the best and worst performers

The best performing sector is Energy gaining 0.7 per cent to 10,117 Shares in Worleyparsons (ASX:WOR) have risen 2.7 per cent and trading at $14.77. Shares in Santos (ASX:STO) and Beach Energy (ASX:BPT) also stronger.

The worst performing sector is Utilies, falling 2.2 per cent to 8,380. Shares in Infigen Energy (ASX:IFN) have fallen 3.4 per cent, trading at $0.64. Spark Infrastructure Group (ASX:SKI) and Ausnet Services (ASX:AST) are also lower.

Gold and the dollar

Gold is trading at $US1,293 an ounce and one Australian dollar is buying 75.61 US cents.