All Ordinaries breaks 6000: Aus shares 0.7% higher at noon

Market Reports

by Jessica Ellerm

Following positive leads, the Australian share market opened higher and is now tracking roughly 0.7 per cent up at noon. And what is almost a historic moment; the All Ordinaries index has shot past 6000 points for the first time in ten years. The last time the index pushed past this level was in early 2007, just prior to the GFC.

Sectors performing well today include miners and healthcare stocks, with Beach Energy and Galaxy Resources in amongst the top 5 performers in the lead up to lunch.

The S&P/ASX 200 index is 41 points up at 5950. On the futures market the SPI is 44 points higher.

Economic news

Data group Corelogic has reported home price growth continues to slow on a quarterly basis across capital cities, due in part to restrictions on lending and easing market conditions in hot spots like Sydney. Home values rose only 0.4% over 3 months to October

Company news

Cadence Capital Limited (ASX:CDM) has recommenced trading following the successful completion of its share purchase plan and placement, which saw it raise a total of $50 million. A total of over 2000 existing and new shareholders took part in the raise, subscribing for shares at a price of $1.259. Shares in Cadence Capital Limited (ASX:CDM)are trading up 0.39 per cent at $1.28.

IPOs

Registry Direct (ASX:RD1) started trading today. The cloud based shareholder and securities management platform floated with an issue price of $0.20, opened at $0.195 and is currently trading at $0.165.

The best and worst performers

The best performing sector is energy, gaining 1.1 per cent to 9963. Shares in Beach Energy have risen 7.69 per cent and trading at $1.05. Shares in Whitehaven Coal and Origin Energy are also stronger.

The worst performing sector is consumer discretionary, despite still making gains, up 0.4 per cent to 2264. Shares in Myer have fallen 4.25 per cent, trading at $0.73. Shares in Seven West Media and Southern Cross Media Group are also lower.

Gold and the dollar

Gold is trading at $US1269 an ounce and one Australian dollar is buying $US76.58