The Australian share market is moderately higher at noon, up 0.1 per cent. Following a mixed overseas lead local sectors are trading mainly in the black.
The S&P/ASX200 index is up 6 points at 4,747 and on the futures market, the SPI200 is up 9.
In economic news: The Westpac-Melbourne Institute index of consumer confidence fell 5.3 per cent to 110.7 points in November, coming in at a five month low. While the Australian Bureau of Statistics has revealed housing finance for owner-occupied housing rose 1.3 per cent in September to 48,333.
To company news: Karoon Gas Australia Ltd (ASX:KAR) has put its shares into a trading halt, pending an announcement on its South American business. Last month the oil and gas explorer said it would raise close to $US1 billion as it launched a share offering of its South American assets in Brazil. Karoon has requested the trading halt until this Friday, or until an announcement is released to the market. Karoon Gas last traded at $9.14.
Warrnambool Cheese & Butter Factory Co. (ASX:WCB) has confirmed it will raise up to $37 million through a placement to Bega Cheese Ltd and a one for six non renounceable entitlement offer. Bega Cheese’s participation in the placement and entitlement offer will give it a 15 per cent stake in Warrnambool through a $22 million investment. Shares in Warrnambool Cheese & Butter Factory have climbed 10.37% and are $3.30 at noon.
Turning now to market indices: The best performing sector is Real Estate Investments Trusts, with the index up 9 points to 856. Shares in Westfield are up 2.16% at $12.31. Shares in CFS Retail Property Trust and Charter Hall Office are also higher.
The worst performing sector at midday is Consumer Staples with the index down 29 points to 8,162. Shares in Goodman Group are down 1.28% at $1.54. Shares in Foster’s Group and Woolworths are also lower at midday.
To New Zealand: The NZSX50 is up 19 points. Taking a look at the top 4 stocks by turnover: Telecom of New Zealand is at the top of the list with stock up 3.3% at $2.19 followed by; AMP, Turners Auctions and Fisher and Paykel Healthcare.
Gold and the dollar: Gold is trading at $US1399 an ounce and the Aussie dollar is buying $US1.0051.
