Aussie shares are half a per cent higher at midday, despite a flat lead from Wall St, with gains in the resource sector helping to support the market today.
The S&P/ASX200 index is up 23 points at 4,649 and on the futures market, the SPI200 is up 10.
In economic news: The Westpac Melbourne Institute Index of consumer sentiment has delivered a read of 113.2 in September, falling from 119.2 in August, and representing a 5.1 per cent drop from the same time last year.
The Australian Bureau of Statistics has reported that new motor vehicle sales in August increased 0.3 per cent to 84,999 units, from a downwardly revised 84,739 units the month before.
The Department of Education, Employment and Workplace Relations skilled vacancies index was 46.2 points in September, a 16 per cent increase over September 2009.
To company news: Charter Hall Retail (ASX:CQR) has extended its Australian debt maturity from February 2012 to September 2015. The company says its Australian multi-currency debt facility, which has a limit of $225 million, was drawn to $107.9 million on 30 June. Charter Hall Retail says the extension and restructure of its Australian debt facility enables the company to proactively refinance debt and provide security of funding across its assets. Shares in Charter Hall Retail are 1.69% up at $3.00.
Gold and nickel producer Focus Minerals Ltd (ASX:FML) has trebled its fiscal 2010 net profit on record production. The miner says a ramp-up of production at the company’s refurbished processing plant underpinned a record $10.9 million net profit, compared with a profit of $3.1 million in fiscal 2009. Production increased 50 per cent to over 62,000 ounces, while revenue rose 70 per cent to $73.7 million for the year to 30 June. Shares in Focus Minerals are 5.77% up at $0.055.
Turning now to market indices: Most sectors are in the black at midday. The best performing sector is the Real Estate Investment Trusts, with the index up 7 points to 896. Shares in Dexus Property Group are up 1.2% to $0.845. Shares in Westfield Group and CFS Retail Property Trust are also higher. The worst performing sector at midday is the Utilities sector, with the index down 3 points to 4,417. Shares in Duet Group dropped 1.67% to $1.765. Shares in Energy Developments and Challenger Infrastructure Fund also lower at midday.
To New Zealand now and the NZSX50 is 3 points higher. Taking a look at the top 4 stocks by turnover: At the top the list is Fletcher Building with stock up 0.24% at $8.50 followed by; Telecom of New Zealand, Auckland International Airport and Goodman Property Group.
To gold and the dollar: Gold is trading at $1269 US an ounce and the Aussie dollar is trading at 93.94 US cents.
