The Australian share market opened the trading week in the black, following a rise in the iron ore price and more record leads from Wall Street with the Dow surging 165 points on Friday. The S&P/ASX 200 soared this morning before balancing out just before midday.
Telcos are topping the charts with Telstra, TPG and Vocus all outperforming today. Several banks are carrying out well, including ANZ, AMP, NAB, Macquarie and Westpac all pulling the Financials sector along. The Energy sector is also up, with AGL, Santos and Woodside in the green. Consumer Staples is down, with Woolworths and Wesfarmers lower, while Discretionary is up, pulled along by Fairfax and Aristocrat.
The S&P/ASX 200 index is 6 points higher sitting at 5913. On the futures market the SPI is 4 points higher.
Company newsLink Administration Holdings
(ASX:LNK) has received all the regulatory approvals to acquire customer management and administration service company Capita Asset Services. Link Group will be snapping up the company from Capita, with the purchase expected to go ahead on next Friday 3rd November. Shares in Link Administration Holdings
(ASX:LNK) are trading half a per cent higher to $8.04.
Telecommunications company Vocus Group
(ASX:VOC) has achieved its Q1 FY18 targets after increasing its east coast expansion. As a result the company confirms it will achieve its guidance for the year. Vocus also successfully secured 4 Federal Government tenders in the first quarter and secured two other tenders in the second quarter. Shares in Vocus Group
(ASX:VOC) are trading 1.07 per cent higher to $2.84.
Best and worst performersThe best performing sector is Telcos, gaining 1.45% to 1268. Shares in Telstra have risen 1.42% per cent to $3.57. Shares in TPG and Vocus are also stronger.
The worst performing sector is Consumer Staples, falling 0.6 per cent to 9707. Shares in Graincorp have dropped 1.53 per cent to $8.37. Metcash and Wesfarmers are also lower.
Gold and the dollarGold is trading at $US1,276 an ounce and one Australian dollar is buying 78.07 US cents.
