After gains of more than 1.5 per cent on Wall Street the Australian share market has climbed more than 1 per cent with strength across the board. Traders have been boosted by the European Central Bank’s plans for a stimulus injection of €60 billion of bond buying per month. The quantitative easing (QE) program will start from March and has been launched to tackle the threat of further deflation in the region.
Figures
The S&P/ASX 200 index has climbed 67 points to 5,487. On the futures market the SPI is 74 points stronger.
Company news
ResMed Inc.
(ASX:RMD) has improved its second quarter and first half result on the back of new product launches. The medical device manufacturer increased its net income to $US174.4 million over the last six months of 2014. CEO Mick Farrell says ResMed drove top-line revenue growth by launching a strong, innovative portfolio of products and solutions. Shares in ResMed have jumped 5.15 per cent to $7.76 at noon.
Kathmandu Holdings Limited
(ASX:KMD) has appointed a new boss to take over from Peter Halkett who departed in November after eight years in the top job. The outdoor clothing retailer says Xavier Simonet will relocate from London to take the reins as its new CEO based in Melbourne. Mr Simonet is currently the chief of London-based handbag, luggage and accessory brand Radley and will start at Kathmandu after working out his notice period. Shares in Kathmandu Holdings have slipped 0.54 per cent to $1.85 at noon.
Best and worst performers
All sectors all trading stronger: The best performing sector is energy, gaining almost 3 per cent to 10,873. Shares in Liquefied Natural Gas Limited
(ASX:LNG) have risen 8.68 per cent and trading at $2.63. Shares in Senex Energy Limited
(ASX:SXY) and Santos Limited
(ASX:STO) are also stronger.
The sector with the smallest gains is consumer staples, adding 0.08 per cent to 9,411. Shares in Graincorp Limited
(ASX:GNC) have fallen 0.88 per cent, trading at $9.03. Shares in Wesfarmers Limited
(ASX:WES) and Goodman Fielder Limited
(ASX:GFF) are also lower.
Gold and the dollar
Gold is buying $US1,301 an ounce.
The Australian dollar is buying $US0.8037.
