Midday: Aus shares bounce higher

Market Reports

Following mixed leads, bargain hunters were on the lookout on this Thursday, causing the Australian share market to open higher and sit 1.37 percent up at noon. Energy names have led the relief rally, shrugging off weak overnight oil prices.
 
The S&P/ASX 200 index is 69 points up at 5,067. On the futures market the SPI is 55 points higher.
 
Company news
 
Brickworks Limited (ASX:BKW) has reported a 24 percent slip in net profit to $78.1 million for the year ended 31 July 2015. Impairment charges weighed on the result, which was down from $102.8 million the previous period. Brickworks said earnings are expected to improve in 2016 and pointed to continuing demand and rising prices as a result of a boom in housing construction. Shares in Brickworks Limited are trading down 1.63 per cent at $15.12. 
 
G8 Education Limited (ASX:GEM) is set to lose chairwoman Jenny Hutson. Ms Hutson has resigned in the wake of G8 Education’s failed bid for Affinity Education. Ms Hutson, who will step down on October 15, led the proposed acquisition of Affinity Education which was beaten by a rival offer. Shares in G8 Education are trading down2.91 per cent at $3.00. 
 
Best and worst performers

The best performing sector is REITs, gaining 2.31 per cent to 1,227. Shares in Federation Centres have risen 3.05 per cent and are trading at $2.70. Shares in National Storage and Mirvac Group are also stronger.
 
All sectors are up. The sector with the least gains is Materials, gaining 0.67 per cent to 7,703. Shares in Syrah Resources have fallen 3.17 per cent, trading at $2.44. Shares in Iluka Resources and Western Area are also lower.

Gold and the dollar
 
Gold is trading at $US1,133 an ounce.
The Australian dollar is buying $US0.7022

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