The Australian share market is higher at midday up .4%, buoyed by positive comments from the RBA.
The S&P/ASX200 index is up 18 points at 4,457 and on the futures market, the SPI200 is up 12.
In economic news: The RBA’s minutes from the August 10 Monetary Policy Meeting showed the boards expectations for the economic outlook remain unchanged, although there is still some uncertainty on the global outlook.
To company news: Primary Health Care Ltd (ASX:PRY) has posted 21.7% net profit growth to $134 million for the 12 months to 30 June, though earnings are expected to fall to the lower end of guidance for the year ahead. The medical centre operator has also advised that earnings before interest, tax, depreciation and amortisation fell to $331 million, from $355 million in 2009. Primary Health Care has declared a final dividend of 10 cents fully franked, bringing the total dividends for the year to 25 cents per share. Shares in Primary Health Care are 2.1% down at $3.27. GWA International Ltd (ASX:GWT) has reported a steady net profit for fiscal 2010 of $48.5 million, up 0.4% on the year before, attributing write downs for asset sales for the result. The building fixtures supplier says sales revenue increased by 7.1% to $657 million for the 12 months to June 30. A stable final fully franked dividend of 8.5 cents per share has been announced. Shares in GWA International are 0.34% up at $2.99.
Turning now to market indices: Most indices are in the black, with the best performing index the Telco Services sector, up 6 points to 1,013. Shares in Amcom Telecommunications are 1.61% higher at $0.315. Shares Telstra and Telecom of New Zealand also higher at noon. The worst performing index is the Consumer Staples sector, down 3 points to 7,657. Shares in Coca-Cola Amital dropped 0.84% to $11.85. Shares in Graincorp and Woolworths are also lower at midday.
To New Zealand now and the NZSX50 is down 14 points. Taking a look at the top 4 stocks by turnover: Fletcher Building heads the list with stock down 0.69% at $7.18 followed by; Telecom of New Zealand, Contact Energy and Sky City Entertainment Group.
To gold and the dollar: Gold is trading at $1224 US an ounce and the Aussie dollar is trading at US 89.74 cents.
