ASX flat after morning trade as Sigma Healthcare rally continues
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The news: The Australian sharemarket was flat after morning trade, with gains in A-REIT and telco sectors offset by a slide in energy stocks.
The numbers: The benchmark ASX 200 was flat at 8,198.10 by 1pm AEST, having inched higher earlier in the day, with seven out of 11 sectors in green.
The best performing sector was AREITs, up 1.18%, followed by telecommunications (0.59%).
Pharmacy wholesaler Sigma Healthcare, up 4.1%, extended gains from Tuesday, and is on track to end the day as the best performing ASX 200 company for the second successive session.
Asset manager HMC Capital (3.3%) and gambling company Light & Wonder (2.9%) were the second and third top performers across the ASX 200 respectively.
Energy led declines, shedding 0.51%, after ending Wednesday as the best performing sector. The sector was weighed down by coal miner New Hope Corporation (-5.9%), which saw the biggest fall of any ASX 200 company as it traded ex-dividend.
Oil and gas majors Karoon Energy (-2.1%), Santos (0.7%), Woodside Energy (0.3%), Beach Energy (-0.2%) all dipped despite oil prices extending gains, with escalating conflict in the Middle East threatening Iranian production.
Meanwhile, ASX gold miners also fell in early trading as spot gold edged down. Genesis Minerals (-3.6%), Westgold Resources (-3.5%) and Vault Minerals (-3.1%) were the worst hit across the ASX 200. Fellow gold producer Emerald Resources (-0.9%) also dropped as non-executive director Simon Lee announced he is stepping down from its board.
