Following positive leads from Wall Street on Friday, the Australian share market opened in the black and is currently tracking 0.7 per cent higher at noon. The financials space is doing the bulk of the heavy lifting with small gains in all of the big four banks; ANZ currently leading the charge up around 1 per cent. The materials space is painting a bit of a mixed picture at the moment with BHP losing just over 1 per cent, but Rio Tinto has added 0.8 per cent.
The S&P/ASX 200 index is 38 points higher at 5,037. On the futures market the SPI is up 45 points.
Company news
DUET Group
(ASX:DUE) is offering stapled security holders, the opportunity to acquire additional stapled securities under a share purchase plan. The share purchase plan aims to raise $30 million and is not underwritten. Funds raised will be applied by DUET towards the acquisition of a 20 per cent interest in DBP. Shares in DUET Group are trading up 0.68 per cent at $2.23.
Vicinity Centres Limited
(ASX:VCX) has announced the commencement of the $350 million redevelopment of Mandurah Forum in Western Australia. The redevelopment is the next major project in the company’s $3.1 billion development pipeline. Shares in Vicinity Centres are trading 0.8 per cent higher at $3.16.
Best and worst performers
The best performing sector is Utilities, gaining 1.9 per cent to 7,025. Shares in APA Group have risen 3.31 per cent and trading at $8.73. Shares in Spark Infrastructure and AGL are also stronger.
The worst performing sector is Energy, falling 1 per cent to 7,569. Shares in Whitehaven Coal have fallen 3.85 per cent, trading at $0.63. Shares in Worley Parsons and Santos are also lower.
Gold and the dollar
Gold is trading at $US1,219 an ounce.
The Australian dollar is buying $US0.7653.
