Following weak leads from Wall Street, the Australian share market opened in negative territory this morning, but has gained some traction mid way through the session and is currently is 1.03 per cent higher at noon. The financials space is leading the gains with all of the big four banks in positive territory, but the materials space continues to weigh on the index.
The S&P/ASX 200 is up 51 points to 5,093. On the futures market the SPI is 42 points higher.
Company news NewZulu Limited
(ASX:NWZ) has announced it has signed two new leading international partners in Italy and Poland to its NewZulu Content Syndication Platform. The company says it will work closely with both partners to generate revenue through the distribution of NewZulu’s crowd-sourced photo and video content. Shares in NewZulu are trading 13.5 per cent higher to 4 cents.
Phosphagenics Limited
(ASX:POH) says it has reached a key milestone in relation to the development of its Animal Health and Nutrition Business. The drug delivery company says it will conduct its TPM feed efficiency trial on young pigs and monitor their weight gain. Shares in Phosphagenics are trading up 7.14 per cent to 1.5 cents.
Best and worst performers
The best performing sector is Utilities, gaining 1.8 per cent to 6,667. Shares in AGL Energy have risen 3.2 per cent and trading at $16.72. Shares in APA Group and Ausnet are also stronger.
The worst performing sector is Materials, falling 0.4 per cent to 7,706. Shares in Regis Resources have fallen 4.03 per cent, trading at $1.67. Shares in CSR and Independence Group are also lower.
Gold and the dollar
Gold is trading at $US1,146 an ounce.
The Australian dollar is buying 70.24 US cents.
