Despite losses on Wall St last Thursday before the New Year holiday, Aussie shares are slightly higher at midday.
Energy stocks gained on a rise in the price of oil, with Woodside Petroleum and Santos both up. Woodside reporting that an agreement with PetroChina, for the potential sale of gas, expired last week.
The S&P/ASX200 index is 15 points higher at 4,886 and on the futures market the SPI 200’s up 2 points.
In company news: Oil company Woodside Petroleum Ltd (ASX:WPL) says an agreement with PetroChina Company for the potential sale of 2 to 3 million tonnes a year of LNG from the Browse LNG Development expired on December 31. Woodside says it remains in ongoing discussions with other Asia-Pacific LNG customers in relation to potential sales from its portfolio of Australian LNG developments, including the Browse project. The company says it has also entered into an agreement with Osaka Gas to progress discussions in respect of Woodside projects, including the potential sale and purchase of up to 1.5 million tonnes of LNG per annum from the Browse LNG Development. Woodside Petroleum shares gained 0.4 per cent to $47.39.
Origin Energy Ltd (ASX:ORG) has today confirmed a new field oil and gas discovery at Rockhopper in the Bass Basin. Origin, who is operator of the T/18P joint venture, says wireline pressure data recorded in the Rockhopper well to date confirm the presence of hydrocarbon columns and says that selective wireline sampling has recovered oil from sands and liquids rich gas from others. Origin says that it remains too early to comment on the commercial significance of this new field discovery, but the joint venture is encouraged by the results so far, particularly by the recovery of crude oil from some sands. Origin Energy shares added 0.83 per cent to $16.96.
Turning now to market indices: The best performing sector at midday is the Consumer Staples index up 88 points at 7,897. Shares in AWB advanced 3.54% to $1.17. Shares in Metcash and Foster’s Group are also higher.
The worst performing sector at midday is the Real Estate Investment Trust index, down 5 to 893. Shares in Goodman Group fell 1.57% to $0.625. While shares in Bunnings Warehouse and Westfield Group are also lower at noon.
Looking to New Zealand and the NZSX50 is 9 points higher. Taking a look now at the top stocks by turnover: Westpac heads the list, stock steady at $31.5, followed by Telstra, Telecom of New Zealand, ANZ and Fletcher Building.
To gold and the dollar: Gold is trading at US$1,095.15 an ounce and the Aussie dollar is trading at 89.65 US cents.
