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Best and worst stocks on the ASX at midday

The local bourse has failed to follow Wall Street’s positive lead overnight, with the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) heading down throughout this morning’s session. At 12:07 pm the index was down 0.49%, cancelling out yesterday’s gains.

Despite iron ore jumping above US$116 a tonne overnight which has helped Rio Tinto Limited (ASX: RIO) and Fortescue Metals Group Limited (ASX: FMG) rally higher today, investors seem more concerned with the strengthening Australian dollar and a weak PMI reading from the Australian Industry Group which indicates that the Australian manufacturing sector continues to contract.

The market is also awaiting the decision on monetary policy from the Board of the Reserve Bank of Australia which is due for release this afternoon.

Sectors are mostly lower with only the information technology sector showing a gain.

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

  • Ainsworth Game Technology Limited (ASX: AGI) is up 3.2% to $3.75
  • Mount Gibson Iron Limited (ASX: MGX) has risen 2.7% to 93.5 cents
  • Sirius Resources N.L. (ASX: SIR) has added 2.5% to $2.49
  • Lynas Corporation Limited (ASX: LYC) has climbed 2.4% to 21.5 cents
  • Orora Ltd (ASX: ORA) has gained 2.3% to $1.41

 These are the five worst performing stocks at midday today:

  • Ten Network Holdings Limited (ASX: TEN) is down 7.3% to 25.5 cents
  • Southern Cross Media Group Ltd (ASX: SXL) has fallen 6.9% to $1.27
  • Resolute Mining Limited (ASX: RSG) has dropped 6.7% to 55.5 cents
  • Medusa Mining Limited (ASX: MML)  has lost 5.5% to $1.96
  • Regis Resources Limited  (ASX: RRL) has declined 5.1% to $2.15

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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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