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Best and worst stocks on the ASX at midday

The market has started the day down with the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) sinking 1.08% by noon following Wall Street’s lead where US stocks fell overnight.

In economic news, consumer confidence has fallen to a 10-month low with the Westpac-Melbourne Institute Index of Consumer Sentiment reporting a reading of 99.5 in March.

Turning to the sectors, it’s a sea of red with all sectors showing losses. The consumer discretionary and energy sectors have been hit particularly hard, down nearly 2% each.

Here are the top five best performing stocks in the index at lunchtime today:

  • Fortescue Metals Group Limited (ASX: FMG) has gained 2.6% to $4.95
  • Mount Gibson Iron Limited (ASX: MGX) has climbed 2.5% to 80.5 cents
  • Ausdrill Limited   (ASX: ASL) has added 2.3% to 90 cents
  • Telecom Corp of New Zealnad (Australia) (ASX: TEL) has risen 1.8% to $2.31
  • DuluxGroup Limited (ASX: DLX) is up 1.7% to $5.39

These are the five worst performing stocks at lunchtime today:

  • Lynas Corporation Limited (ASX: LYC) has dropped 8.5% to 24.7 cents
  • PanAust Limited (ASX: PNA) has fallen 6.2% to $1.51
  • Paladin Energy Ltd (ASX: PDN) has slipped 5.4% to 52.5 cents
  • Automotive Group Holdings Ltd (ASX: AHE) has lost 5.2% to $3.62
  • Acrux Limited (ASX: ACR) is down 4.6% to $1.87

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Motley Fool contributor Tim McArthur does not own shares in any of the companies mentioned in this article.

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