Positive leads this morning followed through with the Australian share market performing higher at noon. Global commodities prices steadied throughout the morning, and the energy and financials excluding REITS helped to support positive results.
The S&P/ASX200 index is up 45 points and is at 4,788 at noon. On the futures market the SPI is up by 47 points.
In economic news, an ANZ survey says job ads in Australian newspapers and on the internet rose 1 per cent in April from March. The results also showed that over the year, total jobs ads were 20.5 per cent higher.
In company news, Origin Energy (ASX:ORG) has bought a 40 per cent interest in Chilean geothermal exploration company, Energia Andina. Origin’s finance and strategy director Karen Moses said the company believes geothermal can provide large scale renewable base load energy, and and Chile has significant potential. Shares in Origin Energy have gained 0.56 per cent and are trading at $16.30.
And Qantas Airways Limited (ASX:QAN) passengers heading away this Friday may face delays as the company faces possible industrial action by its engineers. The Australian Licensed Aircraft Engineers Association (ALAEA) says it’s losing patient with long-running negotiations on a new enterprise agreement. Shares in Qantas were trading up 0.46 per cent at $2.17 at midday.
The best performing sector is Energy, up 263 points to 16,421. Shares in Carnarvon have gained 8.7 per cent and trading at $0.25. Shares in Empire Oil and Emerald have also improved at midday. The worst performing sector is Telco Services, down 3 points to 1,012. Shares in Stratatel are down 7.50 per cent to 0.307. Shares in Hutchison and Telecom NZ are also lower at noon.
To New Zealand, the NZSX50 has gained 11 points. Taking a look at the top four stocks by turnover, Sky Entertainment Group was is at the top of the list with stocks up 0.54 per cent at $3.70 followed by Telecom, Fletcher Building, and Westpac.
To gold and the dollar: Gold is trading at $US1,497 an ounce and the Aussie dollar is buying US$1.705.
