News: Midday: Aus shares tick lower amid earnings

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The local market traded in a close band this morning, after an early push into the green it sunk into the red and is 0.4 per cent lower at midday.

 

Earnings results from Mineral resources have impressed investors with record shipments of iron ore reported. Medibank Private, however, saw its shares dipped 3 per cent despite a solid first half profit result.

 

Energy stocks also weighed on the market as the oil price weakened overnight. 

 

The S&P/ASX 200 index is 21 points down at 5,883. On the futures market the SPI is 29 points lower.

 

Company news

 

Regis Healthcare Limited (ASX:REG) has reported a lower first half profit but has increased its full year earnings guidance. The newly listed aged care provider reported a net profit of $15.1 million for the first six months. The company has upgraded its full year earnings and profit guidance by 5 – 10 per cent. Shares in Regis are trading up 10.55 per cent at $5.03 

 

1-Page Limited (ASX:1PG) has raised $9.63 million through a share issuance at $1.07 per share to two long term parties.  The cloud based HR company says the price is a 4 per cent premium to the weighted average price. The company says the investors see the potential of the company and are long term shareholders. Shares in 1PG are trading up 3.36 per cent at $1.23 

 
Best and worst performers

The best performing sector is consumer staples, gaining 1.2 per cent to 10,011. Shares in Wesfarmers Limited (ASX:WES) have risen 2.7 per cent and trading at $46.40. Shares in Metcash Limited (ASX:MTS) and Goodman Fielder Limited (ASX:GFF) are also stronger. 

 

The worst performing sector is energy, falling 2.1 per cent to 11,716. Shares in Horizon Oil Limited (ASX:HZN) have fallen 3.85 per cent, trading at $0.13. Shares in Origin Energy Limited (ASX:ORG) and Santos Limited (ASX:STO) are also lower.

 

Gold and the dollar

Gold is trading at $US1,209 an ounce.

The Australian dollar is buying $US0.7794