The Australian share market has been little changed in early trade as profit reporting season draws to a close and investors worry about the economic impact of the coronavirus.
The Australian dollar was trading around 73.66 US cents, after reaching 73.81 US cents earlier this morning.Financial firm IOOF extended its trading halt as it seeks to raise $1 billion to buy National Australia Bank's superannuation and wealth division, MLC Group, for $1.4 billion. IOOF said statutory net profit for the year jumped more than 400 per cent to $147 million, but underlying net profit fell by a third to $129 million.On Wall Street on Friday, technology stocks drove the S&P 500 index to another record closing high, its sixth since confirming a bull market on August 18.Oil stocks gained after Hurricane Laura passed through the Gulf of Mexico without widespread damage and as oil rigs and refineries restarted operations.
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