It has been a positive trading session for the Australian share market; following on from yesterday’s post Fed gains the local bourse jumped at the open and is now tracking 0.4 per cent higher at noon. It’s the healthcare space that is leading the charge so far with solid gains in heavyweights CSL and Sirtex. Not such a good start for the materials space however, with some profit taking in the gold space after a spike yesterday upon the announcement that the Federal Reserve would keep interest rates on hold.
The S&P/ASX 200 index is 21 points up at 5,396. On the futures market the SPI is 29 points higher.
Company newsGR Engineering Services
(ASX:GRG) has announced that it has been awarded a contract with Eastern Goldfields Limited
(ASX:EGS) to provide engineering, procurement and construction services associated with the refurbishment of the 1.2Mtpa Davyhurst processing facility. The contract will be delivered on an EPC basis with a value of around $12.5 million. Shares in GR Engineering are trading
down 1.61 per cent at $1.53.
Moly Mines Limited
(ASX:MOL) has made an offer to acquire all of the shares in Gulf Alumina, which has been recommended by the Gulf Board subject to no superior proposal. Metro Mining is the largest shareholder of Gulf Alumina with a 39 per cent interest. Moly Mines has been suspended from trading on the ASX since April 2014.
Best and worst performersThe best performing sector is Healthcare, gaining 0.86 per cent to 21,491. Shares in Estia Health have risen 3.25 per cent and trading at $3.49. Shares in Japara Healthcare and Sirtex Medical are also stronger.
The worst performing sector is Materials, falling 0.4 per cent to 8,862. Shares in Saracen Minerals have fallen 4.87 per cent, trading at $1.42. Shares in St Barbara and Resolute Mining are also lower.
Gold and the dollarGold is trading at $US1,335 an ounce.
The Australian dollar is buying $US0.7631.
