The local share market is little changed after a quiet overnight period with Wall Street closed and the UK election delivering no major surprises.
At noon on Friday the benchmark S&P/ASX200 index was down 4.2 points, or 0.05 per cent, to 7,827.6, while the broader All Ordinaries was down 4.7 points, or 0.06 per cent, to 8,074.1.
The ASX200 was on track to finish the week up 0.8 per cent, after losing 0.4 per cent last week.
Six of the ASX’s 11 sectors had gained ground at midday and five had lost it, but none had moved more than half a per cent.
The healthcare was up as CSL rose similarly. Cochlear had added 1.0 per cent and Sonic Healthcare had gained 1.1 per cent.
West Africa Resources was the biggest mover in the ASX200, rising 5.1 per cent in a partial bounce-back from Thursday’s selloff.
Clinuvel Pharmaceuticals was the leader in the All Ordinaries, rising 13.2 per cent to a six-month high of $17.17 after announcing positive results for its skin repair drug Scenesse in a small UK study.
The Big Four banks were mostly lower with NAB down 0.9 per cent, Westpac dipping 0.4 per cent and CBA dropping 0.2 per cent, while ANZ had added 0.2 per cent.
Suncorp was up 0.2 per cent after announcing a successful placement of its global reinsurance program.
“It is pleasing to see stability return to global reinsurance markets after three years of disruption,” said Suncorp Group chief executive Steve Johnston, explaining that reinsurance market turmoil had been a major factor in driving up insurance premiums.
In the heavyweight mining sector, BHP had dropped 0.5 per cent, Rio Tinto had dipped 0.4 per cent and Fortescue was 0.2 per cent lower.