Aussie shares are higher at midday in quiet trade; following a positive lead from Wall St on stronger than expected US home sales figures for November. Locally the big miners like BHP are leading the gains.
The S&P/ASX200 index is 28 points higher at 4,732 and on the futures market the SPI 200’s up 38 points.
In company news: Australian retail food brand manager Retail Food Group Ltd (ASX:RFG) is to acquire the Big Dad’s Pies franchise system. CEO Tony Alford says Big Dad’s Pies brings to four the number of acquisition transactions announced by the company in the past month and will be wholly funded from cash reserves. In an update the company says its existing debt facilities mature in December 2010 however it has resolved that refinance of its existing facility will be comfortably deferred to the New Year. RFG also forecast first half net profit after tax from core operations for fiscal 2010 in the range of 10% to 15% over the $11.05 million recorded for the first half of fiscal 09. Shares in Retail Food Group are in a trading halt and last traded at $2.56.
Traffic solutions and traffic management company Traffic Technologies Ltd (ASX:TTI) says it has been granted an extension on a $34 million debt facility. The company says Westpac has extended the facility from January 1, 2011 to October 2011. Traffic Technologies says its term facility is $34 million with an interest rate of 5% and the company’s working facility limit is $12 million with an interest rate margin of 3.75%. Traffic Technologies shares gained 4.44 per cent to 4.7 cents
Turning now to market indices: The best performing sector at midday is the Consumer Staples index up 99 points at 7,579. Shares in AWB advanced 1.39% to $1.095. Shares in Coca-Cola Amatil and Woolworths are also higher.
The worst performing sector at midday is the Real Estate Investment Trust index, down 2 to 870. Shares in Bunnings Warehouse fell 2.44% to $1.80. While shares in CFS Retail Property Trust and Mirvac Group are also lower at noon.
Looking to New Zealand and the NZSX50 is 16 points higher. Taking a look now at the top 5 stocks by turnover: Topping the list is Auckland Airport, stock up 1.02% at $1.98 followed by; Telecom of New Zealand, Fisher & Paykel Healthcare, Fletcher Building and Contact Energy.
To gold and the dollar: Gold is trading at US$1,084.60 an ounce and the Aussie dollar is trading at 87.69 US cents.
