Australian shares have continued to climb on positive leads from Wall Street, with the major miners BHP and Rio Tinto pulling the market higher at midday.
The S&P/ASX200 index is 33 points higher at 4,907 and on the futures market the SPI200’s up 39 points.
In economic news: The national employment department’s index of skilled jobs vacancies rose 2.4% in March to a read of 46.7 points – 11.8% higher than a year earlier.
In company news: Wheat exporter AWB Ltd (ASX:AWB) has downgraded its forecast returns for two key grain pools as higher wheat stocks put pressure on global prices. The Australian Financial Review reports that the company has cut the expected return from its eastern grain pool by $8 to $246 per tonne – almost half the record $429 per tonne delivered to growers for the 2007-2008 season. The company is blaming the lower expected return on weaker global grain prices, a higher Australian dollar and rising freight costs. Shares in AWB are down 0.54% at $0.925.
Transfield Services Ltd (ASX:TSE) has secured a $27.7 million contract with the North Carolina Transport Department, increasing its presence in the US. Under the deal, the transport services company will deliver operations, maintenance and construction services for 135 miles of interstate roads in the state. Managing Director and CEO Peter Goode says the company’s North American transport infrastructure business has secured over $800 million worth of contracts this financial year. Shares in Transfield Services are down 1.47% at $4.03.
Turning now to market indices: The best performing sector at midday is the Healthcare index, up 113 points at 8,993. Shares in Sonic Healthcare rose 1.52% to $14.06. Shares in CSL and Cochlear were also higher at noon.
The worst performing sector is the Industrials index, down 34 points to 3,943. Shares in Transurban Group are down 5.63% to $4.86. Shares in Ausenco and Downer EDI are also lower at midday.
Looking to New Zealand and the NZSX50 is 2 points higher. Taking a look at the top 4 stocks by turnover: First in the list is Telecom of New Zealand, stock is down 0.47% at $2.13, followed by, Auckland International Airport, Nuplex Industries and Kiwi Income Property Trust.
To gold and the dollar: Gold is trading at US$1,103.75 an ounce and the Aussie dollar is trading at 91.87 US cents.
