The Australian share market defied the odds of a modest rise at the open and pushed higher than futures expected.
Before the opening bell BHP Billiton
(ASX:BHP) reported its net profit after tax attributable to members rose 192 per cent to US$5.89 billion, for the full year to 30 June 2017 with its shares rising over 1.3 per cent.
Bluescope Steel
(ASX:BSL) also are propping up the Materials space and are 5.8 per cent higher.
Despite that, Industrials are leading over half of the sector higher, while Staples are seeing the most selling so far in the first two hours of trade.
The S&P/ASX 200 index is 9 points up at 5,735 and now tracking 0.15 per cent higher around midday.
On the futures market the SPI is 21 points higher.
Asian markets Japan’s Nikkei has added 0.10 per cent, Hong Kong’s Hang Seng has lifted 0.8 per cent and the Shanghai Composite has fallen 0.2 per cent.
Company newsRural Funds Group
(ASX:RFF) has reported its net profit after tax rose over 9000 per cent to $43.3 million in the full year to 30 June 2017, compared for FY16. Meantime, its revenue rose 57 per cent to $41.3 million over the 12 months to 30 June 2017. Shares in Rural Funds Group
(ASX:RFF) are trading 0.48 per cent higher $2.11.
BrainChip
(ASX:BRN) has been awarded the New Product of The Year for its video analytics. The developer of software and hardware for artificial intelligence was given the accolade by Security Today’s panel of independent judges at an international exhibition in Dallas Texas. The award was specifically awarded to BrainChip for its object and facial recognition software that quickly scales through archived video and live streams. Shares in BrainChip
(ASX:BRN) are trading 2.86 per cent higher to $0.18.
Best and worst performersThe best performing sector is Industrials, gaining 1.24 per cent to 5,749. Shares in Seven Group Holdings Limited
(ASX:SVW) have risen 7.63 per cent and trading at $12.70. Shares in Sydney Airport
(ASX:SYD) and ALS Limited
(ASX:ALS) are also stronger.
The worst performing sector is Consumer Staples, falling 1.11 per cent to 9,427. Shares in Wesfarmers Limited
(ASX:WES) have fallen 2.93 per cent, trading at $41.35. Shares in Graincorp Limited
(ASX:GNC) and Blackmores Limited
(ASX:BLK) are also lower.
Commodities and the dollarGold is trading at $US1,289 an ounce and one Australian dollar is buying 79.39 US cents.
