News: Midday: Aus shares lower amid mixed earnings

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With few leads from overseas markets the local bourse focussed on company earnings this morning and after an early jump into the green the market was 0.1 per cent lower at midday.  

 

BHP Billiton posted a dip in profit but that didn’t scare off investors, QBE posted a full year profit and this week’s ANZ Roy Morgan consumer confidence reading shows an increase in optimism after months of nerves.

 

The S&P/ASX 200 index is 6 points down at 5,902. On the futures market the SPI is 5 points higher.

 

Company news

 

Shares in Flight Centre Travel Group Limited (ASX:FLT) have pushed higher as it posts a dip in net profit for the first half but stands by its full year guidance. The travel agent saw net profit of $100.3 million for the six months to the end of December with revenue up 4.6 per cent. The company will pay an interim dividend of $0.55 fully franked. Shares in flight centre are trading up 7.8 per cent at $38.00

 

Healthscope Limited (ASX:HSO) has pushed to a first half profit of $58.6 million on the back of strength from its hospitals and international pathology business. The operator of private hospitals says its core hospitals business increased revenue by 6.3 per cent. While the company’s international pathology business saw strong growth the Australian division saw earnings down 23 per cent on tough local conditions. Shares in Healthscope are trading up 0.71 per cent at $2.82 

 

Best and worst performers

The best performing sector is materials, gaining 0.7 per cent to 9,623. Shares in Orora Limited (ASX:ORA) have risen 7.43 per cent and trading at $2.17. Shares in Western Areas Limited (ASX:WSA) and Independence Group (ASX:IGO) are also stronger.

 

The worst performing sector is consumer staples, falling 1.2 per cent to 9,975. Shares in Wesfarmers Limited (ASX:WES) have fallen 2.27 per cent, trading at $45.65. Shares in Metcash Limited (ASX:MTS) and Coca-Cola Amatil Limited (ASX:CCL) are also lower. 

Gold and the dollar

Gold is trading at $US1,204 an ounce.

The Australian dollar is buying $US0.7806