A dip on open was soon erased as the local market headed higher to sit 0.7 per cent up at midday.
Energy stocks were hit by a weak oil price and the miners also took losses despite an uptick in the iron ore price.
But it was health care stocks that supported the market this morning with CSL shares breaking the $100 dollar mark.
The S&P/ASX 200 index is 40 points up at 5,720. On the futures market the SPI is 50 points higher.
Company news
Strength in the health care industry has helped shares in CSL Limited
(ASX:CSL) breach the $100 mark. The company reached the milestone previously in 2007 when shareholders agreed to a stock split. Today’s achievement comes amid health care stocks being some of the best performers in the past 12 months. Shares in CSL are trading up 1.96 per cent at $100.77
ICT solutions company UXC Limited
(ASX:UXC) has refinanced a loan facility totalling $97.5 million with improved margins, a three year tenor and multi currency drawing. The facility is comprised of $75 million revolving cash and a $22.5 million facility to support working capital and bank guarantee requirements. Shares in UXC are trading up 0.53 per cent at $0.95
Best and worst performers The best performing sector is consumer staples, gaining 1.7 per cent to 9,180. Shares in Select Harvests Limited
(ASX:SHV) have risen 2.5 per cent and trading at $13.52. Shares in Metcash Limited
(ASX:MTS) and Woolworths Limited
(ASX:WOW) are also stronger.
The worst performing sector is energy, falling 0.9 per cent to 10,714. Shares in Liquefied Natural Gas Limited
(ASX:LNG) have fallen 4.06 per cent, trading at $3.07. Shares in Santos Limited
(ASX:STO) and Origin Energy Limited
(ASX:ORG) are also lower.
Gold and the dollar
Gold is trading at $US1,082 an ounce.
The Australian dollar is buying $US0.7282
