The local share market is steady at midday with energy stocks like Woodside Petroleum and Santos gaining on stronger oil prices, financial stocks trading mixed however after some disappointing results from U.S. banks.
The S&P/ASX200 index is up 7 points at 4,867 and on the futures market the SPI 200’s up 7 points.
Making headlines at midday: Electronics and furniture retailer Harvey Norman Holdings Ltd (ASX:HVN) says sales from its franchised complexes, commercial divisions and other sales outlets in Australia, New Zealand, Slovenia and Ireland for the three months to September 30 rose 4.3 per cent compared to the same period last year, totalling $1.5 billion. Sales at stores open more than a year for the period rose 2.1 per cent compared to last year. In Australia sales form franchised Harvey Norman complexes, commercial divisions and other sale outlets rose 5.8 per cent. Harvey Norman shares fell 6.51 per cent to $4.45.
Linc Energy Ltd (ASX:LNC) has appointed Anton Rohner as Chief Financial Officer effective from November 2009. Mr Rohner replaces former CFO Rob Stratford who finished with the company prior to the end of his probation period. Mr Rohner comes from Macquarie Bank where he held the position of Managing Director for Renewable Energy and Utilities and has been responsible for securing developments in renewable energy and utilities through Asia and Africa. Linc Energy shares dropped 0.87 per cent to $1.71.
Turning now to market indices: The best performing sector at midday is the Energy index which gained 147 points to 17,055. Shares in Caltex Australia advanced 2.07 per cent to $11.34. Shares in Santos and Woodside Petroleum are also higher at midday.
The worst performing sector at midday is the Real Estate Investment Trust index, down 6 points at 939. Shares in CFS Retail Property Trust lost 1.44 per cent to $2.05. Shares in Stockland and Westfield Group are also lower.
Looking to New Zealand and the NZSX50 is up 17 points. Taking a look at the top five stocks by turnover on the NZSX50: Fletcher Building tops the list, stock up 1.14 per cent at $7.98, followed by Telecom of New Zealand, South Canterbury Finance, Sky City and Auckland Airport.
To gold and the dollar: Gold is trading at $1053.30 US an ounce and the Aussie dollar is trading at 92.68US cents.
