The local bourse has suffered early heavy losses at investors' retreat following heightened tensions in Ukraine and talk of war with Russia. At lunchtime the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) was 0.9% lower.
The Ukrainian Prime Minister was quoted over the weekend as stating that his nation was "on the brink of disaster." Although the US markets finished the week on Friday with the S&P 500 hitting a new record closing high, stocks did suffer a late sell-off as the Ukrainian situation heightened investors' fears.
On the economic front data has been mixed. Reports that China's manufacturing growth has fallen with the official Purchasing Manager's' Index (PMI) dropping to an 8-month low in February is also weighing on the mood of investors.
Conversely, although holding less weight for Australian stocks but on the positive side none-the-less, data from the Eurozone's PMI showed the economic region hit a 31-month high in January.
Meanwhile Australia's manufacturing sector continued to contract but at a slower rate in February according to research released by the Australian Industry Group.
Here are the top five best performing stocks in the index at lunchtime today:
- Beadell Resources Ltd (ASX: BDR) has gained 7.2% to 81.5 cents
- Resolute Mining Limited (ASX: RSG) has added 6.6% to 64.5 cents
- Regis Resources Limited (ASX: RRL) has risen 5.7% to $2.41
- Medusa Mining Limited (ASX: MML) has climbed 5.5% to $2.29
- Northern Star Resources Ltd (ASX: NST) is up 5% to $1.20
These are the five worst performing stocks at lunchtime today:
