Midday: Aus shares up 1.26% at noon

Market Reports

Following positive leads from Wall Street, the Australian share market opened in positive territory this morning and is trading 1.26 per cent higher at noon. The big four banks are currently leading the charge and the miners are also gaining some traction. 
 
The S&P/ASX 200 index is up 63 points at 5,082. On the futures market the SPI is 75 points higher. 

Company news
 
Watpac Limited (ASX:WTP) has been appointed as Stage 1 Managing Contractor by Gold Coast Airport to provide construction and schedule advice for the redevelopment of the airport in Coolangatta. Construction works have an estimated value of $150 million. Shares in Watpac are flat at 84 cents.
 
Azure Minerals Limited (ASX:AZS) says it has made a significant high grade silver discovery at its Alacran project in Mexico. Azure’s Managing Director Tony Rovira has described the results as exceptional and says further follow up work has already been planned on what was a potentially “large, economically significant silver deposit.”Shares in Azure are trading up 23.08 per cent at 2 cents. 
 
Best and worst performers

All sectors in positive territory. The best performing sector is Financials excluding REITs, gaining 1.7 per cent to 6,744. Shares in FlexiGroup have risen 2.85 per cent and trading at $2.53. Shares in Platinum Asset Management and Genworth are also stronger. 
 
The sector with the least gains is Staples, gaining 0.5 per cent to 8,203. Shares in Woolworths have fallen 0.45 per cent, trading at $24.56. Shares in Coca-Cola Amatil were lower, while Select Harvests were higher. 

IPOs

Timah Resources Limited (ASX:TML) started trading today. The renewable energy generation company floated with an issue price of 20 cents, opened at 24.5 cents and is currently trading at 24.5 cents.    
 
Gold and the dollar

Gold is trading at $US1,105 an ounce.
The Australian dollar is buying $USD0.7133.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.