Following positive leads from Wall Street, the Australian share market opened well into positive territory and is now tracking 1.02 per cent higher at noon. This could be an early start to the Santa Claus rally leading up to Christmas, with the local share market rallying for six out of seven sessions. Miners are doing the bulk of the heavy lifting with BHP and Rio both making gains.
The S&P/ASX 200 index is 52 points higher at 5,250. On the futures market the SPI is up 44 points.
Company news OncoSil Medical Limited
(ASX:OSL) has announced it has strengthened its management team in preparation of the commercialisation of its cancer radiation treatment. Mr David James, who previously worked with Sirtex Medical
(ASX:SRX) will take up the role of Global Head of Manufacturing Operations. Dr Greg Rogers, who has held management roles with Resmed
(ASX:RMD) has been appointed as Manufacturing Engineer Manager. Shares in OncoSil are trading 9.68 per cent higher at 17 cents.
Macquarie Group Limited
(ASX:MQG) has been placed into a trading halt pending a release of an announcement by the company. Macquarie Group says the announcement relates to a proposed transaction and an update to the short term outlook of the company. Shares in Macquarie Group last traded at $77.84.
Best and worst performers
The best performing sector is Materials, gaining 2 per cent to 8,325. Shares in South32 have risen 6.64 per cent and trading at $1.53. Shares in Fortescue Metals and Western Areas are also stronger.
The only sector in negative territory is REITs, falling 0.02 per cent to 1,260. Shares in National Storage have fallen 1.65 per cent, trading at $1.49. Shares in Goodman Group and Westfield Corporation are also lower.
Gold and the dollar
Gold is trading at $US1,145 an ounce.
The Australian dollar is buying 72.03 US cents.
