Following positive leads from Wall Street, the Australian share market has opened in the black this morning and has since gained a modest 0.21 per cent at noon. The materials space has continued to rally after another increase in commodity prices overnight, particularly the gold stocks with the price of gold edging ever closer to the key support level of the US$1200 an ounce mark. The staples space is proving to be the biggest drag on the market, with Bellamy’s shedding another 19 per cent on top of yesterday’s losses.
The S&P/ASX 200 index is 12 points up at 5,784. On the futures market the SPI is 12 points higher.
Company newsBHP Billiton Limited
(ASX:BHP) has been granted a payment extension relating to the dam disaster in Samarco Brazil, in November 2015. BHP and Brazillian iron ore miner Vale now have until the 19th of January to pay $1.2 billion in Brazillian real. The disaster claimed the lives of 19 people after the tailings dam collapsed. Shares in BHP Billiton are trading up 1.4 per cent at $26.39.
Prima Biomed Limited
(ASX:PRR) has announced that its first patient has been dosed for the second cohort of its clinical trial program for IMP321 in combination with Keytruda. The program will involve patients who have unresectable or metastic melanoma. The study will evaluate safety as the primary end point, as well as anti-tumour activity. Shares in Prima Biomed are up 2.86 per cent at $0.04.
Best and worst performersThe best performing sector is Industrials, gaining 0.7 per cent to 5,289. Shares in IPH Limited
(ASX:IPH) have risen 4.27 per cent and trading at $5.37. Shares in Qantas Airways
(ASX:QAN) and McMillan Shakespeare
(ASX:MMS) are also stronger.
The worst performing sector is Staples, falling 0.55 per cent to 8,851. Shares in Bellamy’s Australia
(ASX:BAL) have fallen 15.7 per cent, trading at $4.53. Shares in A2 Milk
(ASX:A2M) and Australian Agriculture
(ASX:AAL) are also lower.
Commodities and the dollarGold is trading at $US1,194 an ounce.
The Australian dollar is buying $US0.7437.
