It has been a stellar start to the trading session after the Federal Reserve decided to keep interest rates on hold. The local bourse followed strong leads from Wall Street and jumped at the open and is now tracking 0.75 per cent higher at noon. It is a sea of green across most sectors with the materials space leading the charge, in particular the gold stocks after the price of the precious metal rallied following the much anticipated rates decision.
The S&P/ASX 200 index is 40 points higher at 5,380. On the futures market the SPI is 44 points higher.
Company newsOz Minerals Limited
(ASX:OZL) has announced that it is withdrawing from its Jamaican exploration joint ventures in Bellas Gate and Rodinia. It has also entered into a Heads of Agreement to transfer all interests in Jamaica to Caruba Copper Corp. The company says the reason for the transfer is because the drill intersected grades were not the types of deposit the copper miner was looking for. Shares in Oz Minerals are trading up 2.91 per cent at $6.36.
Charter Hall Group
(ASX:CHC) has gone into a trading halt pending the release of an announcement by the property fund manager. The company says the announcement relates to the sale by a substantial security holder of its interest in CHC. Charter Hall last traded at $5.38.
Best and worst performersThe best performing sector is Materials, gaining 2.55 per cent to 8,891. Shares in Saracen Minerals have risen 10.11 per cent and are trading at $1.50. Shares in Resolute Mining and Newcrest Mining are also stronger.
The worst performing sector is Utilities, falling 0.49 per cent to 7,084. Shares in AGL have fallen almost 1 per cent, and are trading at $17.18. Shares in Duet Group and APA Group are also lower.
Finally, to gold and the dollar: Gold is trading at $US1,334 an ounce.
The Australian dollar is buying $US0.7634.
Thanks for watching the Market at Midday, I’m DC. In the meantime, have a terrific afternoon.
