Following positive leads from Wall street and some upbeat comments from ECB president Mario Draghi, the Australian share market opened in positive territory and is steaming ahead tracking 1.73 per cent higher at noon. Overnight, Mr Draghi said the ECB would look at additional quantitative easing measures to further stimulate the economy in Europe.
The S&P/ASX 200 index is 93 points higher at 5,357. On the futures market the SPI is up 102 points.
Company news National Australia Bank
(ASX:NAB) is the third of the big four banks to raise interest rates for mortgages by 17 basis points. The standard variable home loan rate will rise to 5.6 per cent on the 12th of November. Westpac and Commonwealth have also made rate hikes but ANZ is yet to move. Shares in NAB are trading up 1.89 per cent at $32.43.
Santos Limited
(ASX:STO) has released its third quarter activities report for the period ended 30 September 2015. The company says third quarter production of 14.5 milion barrels of oil equivalent was 4 per cent higher than the corresponding quarter and 10 per cent higher in the year to date. Shares in Santos are trading up 1.9 per cent at $6.44.
Best and worst performers
All sectors are in positive territory, but the best performing sector is REITs, gaining 2.3 per cent to 1,295. Shares in Westfield have risen 3.21 per cent and trading at $10.28. Shares in Charter Hall and Abacus Property are also stronger.
The sector with the least gains is Healthcare, gaining 1 per cent to 18,248. Shares in Ansell are flat at $19.82. Shares in Ramsay and Estia are higher.
Gold and the dollar
Gold is trading at $US1,166 an ounce.
The Australian dollar is buying 72.15US cents.
