Midday: Aus shares gain on FY figures

Market Reports

Despite losses in Europe and slim gains on Wall Street the local market pushed higher this morning with a mixed bag of full year results pushing equities up 0.4 per cent. 
 
Sirtex was the day’s big winner on soaring profit numbers, while Whitehaven coal dipped lower on a disappointing full year net loss figure. Telstra also dipped this morning as it posted a slightly lower full year profit.  
 
The S&P/ASX 200 index is 21 points up at 5,403. On the futures market the SPI is 30 points higher. 
 
Company news
 
Shares in Crown Resorts Limited (ASX:CWN) shed more than 3 per cent this morning on news James Packer will step down as Chairman. The company says Mr Robert Rankin will step-up to take the role as Chairmen, while Mr Packer will remain as a Director. It was also made clear that Crown remains as Mr Packer’s number one business priority. Shares in Crown Resorts are trading down 3.33 per cent at $13.07 
 
Goodman Group (ASX:GMG) shares have dipped into the red as it reports its full year operating profit up 9 per cent to $653 million. The commercial and industrial property company has declared a final dividend of $0.111 which results in a total distribution of $0.222 for the year. Shares in Goodman are trading down 0.08 per cent at $6.28
  
Best and worst performers

The best performing sector is energy, gaining 2.1 per cent to 10,208. Shares in Liquefied Natural Gas Limited (ASX:LNG) have risen 5 per cent and trading at $2.94. Shares in Origin Energy Limited (ASX:ORG) and Drillsearch Energy Limited (ASX:DLS) are also stronger.
 
The worst performing sector is telco services, falling 1.8 per cent to 2,166. Shares in Telstra Limited (ASX:TLS) have fallen 1.92 per cent, trading at $6.12. Shares in Spark New Zealand Limited (ASX:SPK) and M2 Group Limited (ASX:MTU) are also lower.
 
Gold and the dollar

Gold is trading at $US1,126 an ounce.
The Australian dollar is buying $US0.7402

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