Midday: Aus shares track 0.4% higher at noon

Market Reports

Despite a Friday the 13th sell-off on Wall Street, the Australian share market has managed to gain some momentum in the first two hours of trade and is now tracking 0.4 per cent higher at noon. The healthcare and financials sectors are doing the bulk of the heavy lifting so far with gains across all of the big four banks. Not such a stellar session for the materials space, it’s mixed at the moment with gains in BHP but losses in Rio Tinto. There’s currently a sea of red for the energy space today with losses across the board; in particular Santos which has shed around 1.5 per cent. 
 
The S&P/ASX 200 index is 21 points higher at 5,350. On the futures market the SPI is up 15 points. 
 
Company news

Yowie Group Limited (ASX:YOW) says it has raised $32 million via a placement of more than 35 million shares at 90 cents each to domestic and international investors. The company says the funds will be used primarily for the continued rollout of the Yowie chocolate product in the US. Shares in Yowie are trading up 3.08 per cent at $1.01. 
 
Helloworld Limited (ASX:HLO) has announced an improvement in forecast TTV for the FY17 year to between $5.3 billion and $5.4 billion. The company says it will provide earnings guidance in August and the increased TTV comes about as the result of a merger with the AOT Group. Shares in Helloworld are trading 2.08 per cent higher at $2.45. 
 
Best and worst performers

The best performing sector is Healthcare, gaining 2.46 per cent to 21,396. Shares in Sonic Healthcare have risen 6.18 per cent and trading at $21.65. Shares in Primary Healthcare and Sirtex are also stronger. 
 
The worst performing sector is Energy, falling 0.5 per cent to 8,010. Shares in Whitehaven Coal have fallen 2.05 per cent, trading at $0.71. Shares in Santos and Beach Energy are also lower. 
 
Gold and the dollar

Gold is trading at $US1,274 an ounce.
The Australian dollar is buying $US0.7275. 
 
 

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?