Positive territory: Aus shares 0.4% higher at noon

Market Reports

by Carolyn Herbert

It has been a positive start to the trading session for the Australian share market, opening in the black and keeping that momentum in the first two hours of trade, gaining 0.4 per cent at noon. While sectors are mostly higher today, Materials are leading the charge, followed by gains in Telcos and Discretionaries. Consumer Staples, Energy and Utilities are all practically flat. 

The S&P/ASX 200 index is 23 points up at 5,789. On the futures market the SPI is 31 points higher.

Asian markets

Checking in with how Asian markets are tracking now, Japan’s Nikkei has added 0.1 per cent, Hong Kong’s Hang Seng has lost 0.3 per cent and the Shanghai Composite is flat.

Company news

APN Outdoor Limited (ASX:APO) says it has successfully retained the Department of Planning, Transport and Infrastructure’s Adelaide Metro contract. The contract encompasses the advertising rights for nearly 900 buses, 24 trams and 136 train cars across the city. APO has held the contract for the past 12 years. Shares in APN Outdoor are trading down 0.22 per cent at $4.58.

Capitol Health Limited (ASX:CAJ) has provided its full year results to the market, reporting a 2.6 per cent increase in revenue to $162.5 million for FY17. The radiology services provider also reported EBITDA of $22.5 million which was ahead of its guidance range. For FY18 Capitol Health expects total operating revenue of $118 to $122 million. Shares in Capitol Health are trading up 5.17 per cent at $0.30.

Best and worst performers

The best performing sector is Materials, gaining 0.7 per cent to 10,362. Shares in Orora Limited (ASX:ORA) have risen 8.79 per cent and trading at $2.97. Shares in Western Areas (ASX:WSA) and Independence Group (ASX:IGO) are also stronger.

The sector with least gains is Consumer Staples, which is flat. Shares in Metcash (ASX:MTS) have fallen 1.12 per cent, trading at $2.64. Shares in Asaleo Care (ASX:AHY) and Woolworths (ASX:WOW) are also lower.

Gold and the dollar

Gold is trading at $US1,276 an ounce. 
The Australian dollar is buying $US0.7901.


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