The Australian share market is up 1.2 per cent at midday after positive offshore leads. All sectors are trading in the black, with miners leading the gains.
The S&P/ASX200 index has gained 55 points and is 4,780 at noon. On the futures market the SPI is 53 points higher.
Company news: David Jones Ltd (ASX:DJS) has introduced 30 new exclusive brands. The new brands include Balmain, Versace Collection, Bloch Loungewear, Canterbury, Witchery Man, Burberry Beauty and Pierre Hardy. The General Manager for Fashion and Beauty says brands such as Simona and Escada have been stopped to make room for the new labels. Shares in David Jones have fallen 0.42 per cent at noon and are trading at $4.71.
Santos Ltd (ASX:STO) shares have entered a trading halt pending an announcement. The halt will remain in place for up to two days pending a statement by the company on its $US16 billion Gladstone liquefied natural gas project in Queensland. The two-train plant will be ready for start up by the end of 2015. Santos will own 30 per cent of the completed project. Santos has revealed in a statement that they expect the announcement "may have a material impact on the price of ordinary shares in Santos". Shares in Santos last traded at $13.16.
Market indices: The best performing sector is Materials with the index lifting 220 points to 14,225. Shares in Intrepid Mines have lifted 7.65 per cent to $2.04. Shares in Medusa Mining and Atlas Iron and have also lifted at noon. The sector with the smallest gains at midday is Consumer Discretionary up by 8 points to 1,510. Shares in AMA Group have eased 7.41 per cent and are $0.125. Shares in Village Roadshow and David Jones have also dropped at midday.
To New Zealand: The NZSX50 has gained 31 points at noon. Taking a look at the top 4 stocks by turnover, Fletcher Building is at the top of the list with stock 1.52 per cent higher at $7.99; followed by Telecom Corporation of New Zealand, ANZ and Westpac.
To gold and the dollar: Gold is trading at $US1,386 an ounce and the Aussie dollar is buying 99.34 US cents.
