The local bourse has done an about-face and swung into the red. At midday the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) was 0.21% lower, after starting the session in positive territory.
Overnight, US stocks gained with both the Dow Jones and the S&P 500 rallying 0.5%, after investors reacted positively to a string of earnings releases and appeared to disregard soft economic reports, including a dip in US consumer confidence and a slowing in house price gains.
The ASX is being influenced by a sell-off in bank stocks and Woolworths Limited (ASX: WOW), which released its quarterly sales numbers today; data from Japan which shows manufacturing activity contracted in April for the first time in 12 months; and renewed tensions in Ukraine where pro-Russian rebels are reported to have seized buildings in Luhansk.
Here are the top five best performing stocks in the index at midday today:
- Horizon Oil Ltd (ASX: HZN) is up 4.2% to 37 cents
- Sirtex Medical Limited (ASX: SRX) has added 3.1% to $15.77
- PanAust Limited (ASX: PNA) has climbed up 2.7% to $1.58
- Fairfax Media Limited (ASX: FXJ) has gained 2.3% to 98.2 cents
- ResMed Inc. (CHESS) (ASX: RMD) has risen 1.9% to $5.38
These are the five worst performing stocks at midday today:
