Friday firms up: Aus shares up 0.29% at noon

Market Reports

by Carolyn Herbert

Following another positive lead from Wall Street the Australian share market has once again followed in its footsteps, jumping at the open and gaining 0.29 per cent at noon. The energy space has bounced back today and the financials space, namely the big four banks continue to lead the charge, with CBA breaking the $80 mark. The consumer discretionaries space is faring the worst this session, with the likes of SurfStitch and Slater and Gordon losing 3 and 5 per cent respectively.

The S&P/ASX 200 index is 16 points up at 5,560. On the futures market the SPI is 24 points higher.

Company news

Sirtex Medical has disappointed investors with its latest trading update, saying sales of its liver cancer treatment came in lower than expected in America and Europe. For the remainder of FY17 EBITA is also expected to decline by 16 per cent, compared to a 9 per cent decline in the previous corresponding period. Shares in Sirtex Medical are trading down 40.64 per cent at $15.13.

Australian Dairy Farms Limited (ASX:AHF) says from February next year it will be processing and selling its own milk as Camperdown Dairy Milk. The company says it's a vertical supply path and that it's proud to have delivered this unique product range since the acquisition of CDC eight months ago. Vertical integration will deliver benefits such as cost minimisation and supply segregation. Shares in Australian Dairy Farms are trading up 5.71 per cent at $0.18.

Best and worst performers

The best performing sector is Energy gaining 0.9 per cent to 8,974. Shares in Woodside have risen 2.11 per cent and trading at $30.51. Shares in Beach Energy and Origin Energy are also stronger.

The sector with the least gains is Discretionaries, losing 0.7 per cent to 2,079. Shares in Crown Resorts have fallen 6.15 per cent, trading at $11.30. Shares in Navitas and Aristocrat Leisure are also lower.

IPOs

GetSwift Limited (ASX:GSW) started trading today. The software business company listed at $0.20, opened at $0.265 and is currently trading at $0.275.

Commodities and the dollar

Finally, to gold and the dollar: Gold is trading at $US1,168 an ounce.
The Australian dollar is buying $US0.7454.


 

Carolyn Herbert

Finance News Network
Carolyn joined FNN in August 2015 as the Head of News and also presented the Market at Midday and the Market Wrap. With more than five years of broadcast journalism experience, Carolyn has worked as a finance anchor on the Sky News Business channel and as an anchor and reporter for ABC News. She is also a qualified corporate lawyer specialising in IPOs, takeovers and mergers and acquisitions.