Back in the black: Aus shares 0.56% higher at noon

Market Reports

by Carolyn Herbert

Despite a mixed lead from US markets the Australian share market has opened higher this morning. The local bourse jumped at the open as bargain hunters set in after yesterday’s sell-down, pushing the ASX200 0.56 per cent higher at noon. Sectors are mixed this session, but Materials space is leading the charge with gains in the big miners BHP Billiton (ASX:BHP) and Rio Tinto (ASX:RIO). We’ve also seen the financials space bounce back with gains in all of the big four banks.

The S&P/ASX 200 index is 32 points up at 5,698. On the futures market the SPI is 34 points higher.

Asian markets

Checking in with how Asian markets are tracking now, Japan’s Nikkei has lost 0.45 per cent, Hong Kong’s Hang Seng has lost 0.6 per cent and the Shanghai Composite has gained 0.5 per cent.

Company news

CIMIC Group’s (ASX:CIM) company CPB Contractors with its joint venture partners, has been selected to deliver a new metro railway crossing under Sydney Harbour. The $2.81 billion contract will deliver twin 15.5 kilometre tunnels and associated civil works on Stage two of the Sydney Metro Project. The joint venture comprises CPB Contractors with a 45 per cent interest, John Holland with a 45 per cent interest and Ghella with a 10 per cent interest. Shares in CIMIC Group are trading up 1.3 per cent at $39.98.

Rent.com.au Limited (ASX:RNT) has announced that its Renter Resume feature has now exceeded 125,000 resumes , maintaining a growth rate of over 500 new resumes per day. The company says it sees itself as a voice to the 30 per cent of the population that rent and one of the largest national bodies representing renters. More than 30,000 pet resumes have also been created to date. Shares in Rent.com.au are trading up 5.48 per cent at $0.077.

Best and worst performers

The best performing sector is Materials, gaining 1 per cent to 9,482. Shares in St Barbara (ASX:SBM) have risen 5.22 per cent and trading at $2.93. Shares in Resolute Mining (ASX:RSG) and Evolution Mining (ASX:EVN) are also stronger.

The worst performing sector is REITs, falling 0.8 per cent to 1,386. Shares in Dexus Property Group (ASX:DXS) have fallen 4.73 per cent, trading at $10.06. Shares in Cromwell Property Group (ASX:CMW) and Iron Mountain (ASX:INM) are also lower.

IPOs

Imagion Biosystems Limited (ASX:IBX) started trading today. The research and development company floated with an issue price of $0.20, opened at $0.18 and is currently trading at $0.15.

Commodities and the dollar

Gold is trading at $US1,253 an ounce and the Australian dollar is buying $US0.7545.



 

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