Global markets gains have lifted the Australian share market 0.6 per cent at noon. Most sectors are making gains with energy and mining stocks leading and property and health dragging.
Across the benchmark index shares in GUD Holdings Limited (ASX:GUD)
have spiked to the best performer after flagging strong growth in the year ahead. Shares in residential aged care operator Estia Health Limited (ASX:EHE)
have lifted after announcing four new acquisitions in Victoria.
The S&P/ASX 200 index has risen 34 points to 5,658. On the futures market the SPI is 25 points higher.
AWE Limited (ASX:AWE)
has posted an annual output drop but confirmed its on track to almost double output by 2018. The oil and gas group’s production fell 9 per cent to 5.1 million barrels of oil equivalent in the 2015 financial year, coming in at the higher end of its guidance range. Managing Director Bruce Clement says AWE will continue to focus on disciplined financial management and its goal remains to achieve annual production of 10 million barrels of oil equivalent by the end of 2018. Shares in AWE are trading 0.41 per cent higher at $1.23.
Novogen Limited’s (ASX:NRT, NASDAQ:NVGN) newly appointed acting CEO has outlined immediately plans for the company. The drug developer has confirmed its commitment to bringing technology platforms to the clinic and progressing its ground-breaking technology platforms. Acting CEO Iain Ross says Novogen has an extensive program of activities underway and is committed to exploiting and creating value from its technology platforms. Shares in Novogen are trading 2.5 per cent higher at $0.21.
Best and worst performers
The best performing sector is energy, gaining 1.4 per cent to 10,900. Shares in Paladin Energy Limited (ASX:PDN)
have risen 3.66 per cent and trading at $0.21. Shares in Santos Limited (ASX:STO)
and Whitehaven Coal Limited (ASX:WHC)
are also stronger.
The worst performing sector is real estate investment trusts, falling 0.4 per cent to 1,294. Shares in GPT Group (ASX:GPT)
have eased 1.54 per cent, trading at $4.49. Shares in Stockland Limited (ASX:SGP)
and Abacus Property Group (ASX:ABP)
are also lower.
Kina Securities Limited (ASX:KSL)
started trading today. The diversified financial services provider in Papua New Guinea floated with an issue price of $1.00, opened at $1.30 and is currently trading at $1.34.
Gold and the dollar
Gold is buying $US1,098 an ounce.
The Australian dollar is buying $US0.7306.