Following positive leads from Wall Street, the Australian share market shot into positive territory at the open and is now tracking 0.8 per cent higher at noon. Big miner BHP is doing the bulk of the heavy lifting this morning, despite the company providing an update to the market on Samarco. The financials space is also making gains; ANZ in particular.
The S&P/ASX 200 index is 40 points higher at 5,157. On the futures market the SPI is 41 points higher.
Company news Navitas Limited
(ASX:NVT) has announced that the agreement with the University of South Australia for its University Pathway Program has been renewed for another ten years until December 2025. Navitas established its relationship with the university back in 2001. Shares in Navitas are trading up 0.22 per cent at $4.59.
Atlas Iron Limited
(ASX:AGO) has announced it has signed a Restructuring Support Agreement and has made an amendment to its existing Syndicated Debt Facility Agreement. On completion of the financial restructuring Atlas would have reduced its term loan debt from US $267 million to US $135 million. Shares in Atlas Iron are trading 17.65 per cent higher at $0.02.
Best and worst performers
The best performing sector is Materials, gaining 2.4 per cent to 6,856. Shares in Alumina have risen 4.78 per cent and trading at $1.09. Shares in Rio Tinto and Bluescope are also stronger.
The worst performing sector is Industrials, falling 0.5 per cent to 4,790. Shares in Aurizon have fallen 9.82 per cent, trading at $4.46. Shares in Austal and Qube Holdings are also lower.
Gold and the dollar
Gold is trading at $US1,074 an ounce.
The Australian dollar is buying $US0.7231
