Following positive leads from Wall Street, the Australian share market opened in the black and is currently tracking 0.35 per cent higher at noon. Today it’s the energy space leading the charge after a 5 per cent jump in the oil price overnight. The financials sector is also making some small gains, with Macquarie Group the best of the bunch.
The S&P/ASX 200 index is 20 points higher at 5,021. On the futures market the SPI is up 27 points.
Company news Qantas Limited
(ASX:QAN) has reported a surge in underlying profit before tax of $921 million, up from $367 million in the first half last year. This makes the company’s 2015 performance the best in the national carrier’s 95 year history. Qantas domestic, Jetstar and Qantas loyalty all achieved record results for the half. Shares in Qantas are trading down 3.26 per cent at $3.86.
Nufarm Limited
(ASX:NUF) has announced the completion of reviews of the manufacturing footprint and product portfolio. The performance improvement program is on track and management says it remains committed to delivering performance improvement benefits of at least $116 million by full year 2018. Shares in Nufarm are trading up 5.4 per cent at $7.22.
Best and worst performers
The best performing sector is Energy, gaining 1.7 per cent to 7,815. Shares in Worley Parsons have risen 11.08 per cent and trading at $4.41. Shares in Whitehaven and Beach Energy are also stronger.
The worst performing sector is Utilities, falling 1.1 per cent to 6,978. Shares in AGL have fallen 2.89 per cent, trading at $18.13. Shares in Duet Group and Ausnet Services are also lower.
Gold and the dollar
Gold is trading at $US1,209 an ounce.
The Australian dollar is buying $US0.7242.
