After strong offshore leads the Australian share market jumped more than one per cent this morning, and is just under 1 per cent stronger at noon. Gains across the board have been led by the property trusts. Supermarket giant Woolworths Limited (ASX:WOW) has sunk more than 5 per cent after it posted a full year profit at the lower end of its guidance and warned of subdued trading ahead.
The S&P/ASX200 index has added 37 points and is 4,204 at noon. On the futures market the SPI is 20 points higher.
Reporting season full year results
Shares in Transfield Services Limited (ASX:TSE) have plunged after booking a full year net loss of almost $20 million. The company has declared a final dividend of 9 cents per share.
AGL Energy Limited (ASX:AGK) has recorded a 57 per cent increase in its full year net profit. The electricity and gas provider will pay a fully franked final dividend of 31 cents per share.
IOOF Holdings Limited (ASX:IFL) says its net profit rose 29 per cent in fiscal 2011. The wealth manager has also boosted its final dividend to 22 cents per share, fully franked.
Crown Limited (ASX:CWN) has posted a 15 per cent improvement in its full year net profit. The casino operator has declared a final dividend of 19 cents, 50 per cent franked.
Best and worst performers
Most sectors are higher: The best performing sector is Real Estate Investment Trusts gaining 22 points to 770. Shares in Stockland have risen 4.23 per cent and trading at $2.96. Shares in Dexus Property Group and Abacus Property Group are also stronger. The worst performing sector is Consumer Stables falling 56 points to 7,487. Shares in Woolworths have dropped 5.21 per cent and trading at $25.85. Shares in Goodman Fielder are steady while shares in Foster’s Group are higher.
New Zealand
The NZSX50 is 15 points higher. Taking a look at the top four stocks by turnover, Telecom Corporation of New Zealand is at the top of the list with stock up 0.56 per cent at $2.715 followed by Fletcher Building, Westpac and Freightways.
Gold and the dollar
Gold is trading at $US1,762 an ounce. The Australian dollar is buying $US1.0443 cents.
