The Australian sharemarket is heading towards positive territory after a flat start, with mining stocks showing some signs of strength. All sectors are trading in the black.
The S&P/ASX200 index has added 14 points and is 4,675 at noon. On the futures market the SPI is 9 points stronger.
In economic news: Japan’s core consumer prices rose 0.6 per cent in April from a year earlier, the first annual rise in more than two years.
Looking at company news: The Commonwealth Bank of Australia (ASX:CBA) and Westpac Banking Corporation (ASX:WBC) have cancelled credit cards because of a potential security breach according to ABC online. The Commonwealth Bank says it detected the potential security breach through its continuous monitoring processes. MasterCard and Visa have been alerted. The Commonwealth Bank is contacting affected customers by SMS and any fees incurred as a result of card cancellations will be fully reimbursed. Shares in the Commonwealth Bank have advanced 0.81 per cent and are trading at $50.81.
Pacific Brands Ltd (ASX:PBG) chief executive Sue Morphet has boldly stated that the future of Australian retailing is online. Ms Morphet added that Australia was three to four years behind other countries in retailing trends, and that the move to online retailing was generational. Shares in Pacific Brands have risen 2.14 per cent at noon and are trading at $0.715.
To the best and worst performers, and all sectors are in positive territory, with Consumer Discretionary at the top of the list, rising 10 points to 1,417. Shares in Centrebet International Ltd have lifted 6.25 per cent and are trading at $1.955. Shares in JB Hi-Fi Ltd and Flight Centre Ltd are also stronger at noon.
The sector with the smallest gains is Financials adding 4 points to 4,339. Shares in Perpetual Ltd have slipped 1.42 per cent and are trading at $27.78. Shares in Mortgage Choice Ltd and Lend Lease Group have also fallen at noon.
To New Zealand: The NZSX50 is 3 points stronger.
Taking a look at the top four stocks by turnover, Fletcher Building is at the top of the list with stock steady at $8.81 followed by Telecom Corporation of New Zealand, Fisher & Paykel Healthcare and Telstra.
To gold and the dollar: Gold is trading at $US1,524 an ounce and the Australian dollar is buying $US1.0659 cents.
