Stocks weighed by financials, energy at noon

Positive earnings results have been outweighed by pressure on financial and energy stocks.

Australian shares have slipped at midday, with positive earnings results outweighed by pressure on financial and energy stocks.

The benchmark S&P/ASX200 index was 0.35 per cent lower at 12.05pm (AEST),with falls in the big four backs and energy plays Origin Energy and Santos dragging the market down, alongside a continued slide in blood products giant CSL.

It was enough to outweigh gains booked on the back of positive earnings results from Whitehaven Coal, Webjet and Treasury Wine.

Origin shares were 2.6 per cent lower at $5.69, after the company posted a full-year net loss of $589 million and a 41 per cent drop in underlying profit.

CSL shares were down 2.7 per cent at $107.82, adding to Wednesday’s five per cent fall after the company reported a 10 per cent drop in full-year profit.

Whitehaven Coal’s return to profit - $20.5 million for 2015/16 against a $343 million the previous year - pleased investors, pushing the miner’s shares up 3.4 per cent to $2.11.

But AMP was 4.6 per cent lower at $5.525 after posting a 10 per cent slip in underlying profit for the first half of the year.

Meanwhile, Treasury Wine Estates, which reported a doubling in annual net profit, was marked up 7.5 per cent to $10.27 and Webjet shares were up almost 20 per cent at $9.54 after a 27 per cent boost in full-year profit.

AAP