S&P/ASX 200 & Austal Limited sink

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) was down 0.8% at lunchtime, following weak leads from international markets overnight.

What happened overnight:

• Dow Jones (USA) – down 0.43%
• NASDAQ (USA): down 1.48%
• FTSE 100 (UK): down 0.14%
• DAX (Germany) – down 0.76%
• EURO STOXX 50 (Europe) – down 0.61%

A rebound in raw material prices overnight appears to have provided some relief for the ASX's embattled mining stocks, which feature prominently in today's top movers.

ASX movers:

1. Arrium Limited (ASX: ARI) – up 6.45%
2. Independence Group N.L. (ASX: IGO) – up 3.45%
3. Rio Tinto Limited (ASX: RIO) – up 2.59%
4. Vita Group Limited (ASX: VTG) – up 12.6%
5. Ardent Leisure Group (ASX: AAD) – up 3.76%

Austal, the ship maker, was today's worst performer at mid-day. In Austal's "progress update" to the ASX, it said the margins from its US shipbuilding will be in the range of 4.5% to 6.5% across the 2016 financial year.

ASX shakers:

1. Austal Limited (ASX: ASB) – down 30%
2. Sundance Energy Australia Ltd (ASX: SEA) – down 7%
3. Atlas Iron Limited (ASX: AGO) – down 5.9%
4. Slater & Gordon Limited (ASX: SGH) – down 2.9%
5. National Australia Bank Ltd. (ASX: NAB) – down 2.5%

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