The Australian share market was almost two per cent lower at noon, feeling shock waves from Wall Street's worst day in three months.
All Ordinaries fell 90.3 points, or 1.92 per cent, to 4611.7.
Some analysts are saying "The ASX 200 was up 20 per cent in the September quarter, (Today), the market is just holding up after the initial drop. It's still down two per cent. There's a bit of profit-taking. There's no specific domestic news that's affected the market."
Property investment trust Macquarie DDR Trust (MDT) says it has agreed to terms to extend the maturity date of the US$111.1 million non-recourse commercial mortgage backed securities debt for a further 60 days to December 1 2009.
Gold miner Newmont Mining Corporation (NEM) has poured its first gold at its Boddington mine in Western Australia. The event marks the start of gold production at Boddington after the first production of copper concentrate in August. The miner who has significant assets in the U.S. also says it has trucked its first shipment of copper concentrate from the mine to the port in Bunbury.
All sectors are in the red at midday however the sector with the smallest loss is the Utilities index which lost 36 points to 4138.
The sector with the biggest loss at midday is the Materials index, down 285 points at 10,872.
Gold is trading at $1000.65 US an ounce and the Aussie dollar is trading at 86.91 US cents.
5 October
Australia ANZ Job Ads, Sep
China Markets Closed
EU Retail Sales, Aug
UK Purchasing Managers Index, Sep
US 10-year Treasury Inflation-Protected Securities Auction
US ISM Non-Manufacturing Business Activity Index, Sep
AFI Annual General Meeting (10:00 AM)
SIP Ex Div Date (11:00 PM)
SXE Ex Div Date
http://www.marketwatch.com/
http://www.thebull.com.au/
http://www.news.com.au/business/
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