Following a strong finish on US markets after the US Federal Reserve lifted Fed Funds rate for the first time in nearly a decade, the Australian share market is 1.49 per cent higher at noon.
The S&P/ASX 200 index is 70 points higher at 5,099. On the futures market the SPI is also 70 points higher.
Company news
Sonic HealthCare Limited
(ASX:SHL) estimates revenue for FY2017 will be impacted by $50M if cuts to laboratory and imaging services as outlined in the Australian Government’s Mid- Year Economic and Fiscal Outlook come into force. Shares in Sonic HealthCare are trading up 2.12 per cent at $17.83.
DEXUS Property Group Limited
(ASX:DXS) announced a 23.05c distribution for the six months to 31 Dec 2015 representing a 17.1% increase over the same period last year. The increase was due to trading profits for FY16 being recognised in the first half of the financial year, ending 31 December 2015. Shares in DEXUS Property Group are trading up 0.26 per cent at $7.80.
Best and worst performers
The best performing sector is Utilities, gaining 2.6 per cent to 6,784. Shares in AGL Energy have risen 4.16 per cent and trading at $17.26. Shares in Ausnet Services and Spark Infrastructure are also stronger.
The worst performing sector is Energy, falling 0.26 per cent to 7,486. Shares in Liquified Natural Gas have fallen 3.90 per cent, trading at $0.74. Shares in Origin Energy and Oil Search are also lower.
IPOs Megaport Limited
(ASX:MP1) started trading today. The telecommunications, network provider floated with an issue price of $1.25, opened at $2.40 and is currently trading at $2.30.
Gold and the dollar
Gold is trading at $US1,073 an ounce.
The Australian dollar is buying $US0.7204
