Despite mixed leads the Australian share market has climbed 0.8 per cent at noon with strength across the board. Investors have been buoyed by the US Federal Reserve’s latest meeting minutes indicating a rate cut won’t come next month.
Across the stocks shares in James Hardie Industries plc
(ASX:JHX) have jumped to the best performer after reporting an annual profit rise. Shares in Cardno Limited
(ASX:CDD) have continued to slump after shedding 27 per cent yesterday following a profit warning.
Figures
The S&P/ASX 200 index has climbed 45 points to 5,655. On the futures market the SPI is 56 points stronger.
Company news
Shares in WorleyParsons Limited
(ASX:WOR) have risen after announcing the settlement of the Arkutun-Dagi dispute. The engineering firm will pay $US78 million to resolve the matter with Exxon Neftegas, relating to the Sakhalin-1 Arkutun-Dagi project’s offshore platform. WorleyParsons has also today revealed its third quarter profit declined 18.9 per cent to $35.6 million amid deteriorating margins. Shares in WorleyParsons have risen 1.98 per cent and are trading at $10.29.
Shares in Service Stream Limited
(ASX:SSM) have gained after providing an outlook on its earnings expectations. The network services contractor is anticipating an improved EBITDA result in the second half compared to $10.7 million reported in the first half. Over the full year the company has forecast EBITDA to come in at $23.5 million. Shares in Service Stream have gained 8 per cent and are trading at $0.27.
Best and worst performers
All sectors are trading higher: The best performing sector is health care, gaining 1.9 per cent to 18,800. Shares in Cochlear Limited
(ASX:COH) have risen 5.29 per cent and trading at $88.83. Shares in Mesoblast Limited
(ASX:MSB) and Sirtex Medical Limited
(ASX:SRX) are also stronger.
The sector with the fewest gains is real estate investment trusts, adding 0.2 per cent to 1,281. Shares in Charter Hall Group
(ASX:CHC) have fallen 1.63 per cent, trading at $4.84. Shares in Charter Hall Retail REIT
(ASX:CQR) and Scentre Group Limited
(ASX:SCG) are also lower.
Gold and the dollar
Gold is buying $US1,212 an ounce.
The Australian dollar is buying $US0.7889.
