Following solid leads from Wall Street overnight, the Australian share market started the session in positive territory and is now tracking 0.99 per cent higher at noon. Today it’s the blue chips are doing most of the heavy lifting with gains in the big banks, Telstra and BHP and Rio Tinto.
The S&P/ASX 200 index is 47 points higher at 5,277. On the futures market the SPI is up 65 points.
Company news Santos Limited
(ASX:STO) has announced the first shipment of liquefied natural gas from its $18.5 billion GLNG project at Curtis Island. The first cargo will be delivered to South Korea in the coming weeks. Santos Managing Director David Knox says today’s announcement was the culmination of an historic journey for the company. Shares in Santos are trading up 2.72 per cent at $5.49.
Mesoblast Limited
(ASX:ASX) has agreed with Celgene Corporation to extend for a period of six months Celgene’s right of first refusal with respect to Mesoblast’s stem cell product. The product is used for the treatment of certain oncologic diseases, inflammatory bowel diseases and organ transplant rejection. Shares in Mesoblast are trading up 6.83 per cent at $3.44.
Best and worst performers
The best performing sector is REITs, gaining 1.5 per cent to 1,257. Shares in Goodman Group have risen 2.26 per cent and trading at $5.89. Shares in Westfield and Investa Office Fund are also stronger.
The sector with the least gains is Materials, rising 0.3 per cent to 8,426. Shares in Iluka Resources have fallen 8.7 per cent, trading at $6.72. Shares in Northern Star and Evolution Mining are also lower.
Gold and the dollar
Gold is trading at $US1,182 an ounce.
The Australian dollar is buying 73.10 US cents.
