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S&P/ASX 200 down 0.1% at lunch, US earning season underway

The ASX 200 is trading down 0.10% or down 7.9 points to 6,243.4 at 1.35pm.
trading floor
S&P 500 Index was up 0.66% and the Nasdaq Composite was up 0.46% last Friday

S&P/ASX 200 (INDEXASX:XJO) opened slightly positive but has drifted down over the morning to be slighty down for the day at early afternoon.

Both the S&P 500 Index (INDEXSP:.INX) and the Nasdaq Composite (INDEXNASDAQ:.IXIC) finished higher on Friday, which has been enough to boost other Asian equity markets, but not Australia.

Reporting season is underway in the US and is off to a strong start after JPMorgan (NYSE:JPM) impressed investors on Friday, finishing up 4.63%.

Perpetual price action continues

Listed fund manager Perpetual Ltd (ASX:PPT) is down 5.07% today at 1.44pm to $41.00 after finishing up 5.7% on Friday.

Rumours are spreading around the market that it may be looking at Platinum Asset Management Ltd (ASX:PTM) as a potential target.

IFL cops class action, shares down 2.1%

IOOF Holdings Ltd (ASX:IFL) shares are down 2.05% at $6.455 at 1.48pm after it revealed it has been served with a class action proceeding.

IOOF considers the claim speculative and without foundation.

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