Following mixed leads the Australian share market opened higher and is 1 per cent up at noon.
The S&P/ASX 200 index is 38 points up 4,234. On the futures market the SPI is 46 points higher.
Economic news
National Australia Bank has shown business confidence dropped to 1 in February, down from 4 the month before.
The Australian Bureau of Statistics has reported home loan approvals fell 1.2 per cent to 47,768 in January.
Company news
The CEO of Telstra Corporation Limited's (ASX:TLS) owned Sensis has resigned following restructure moves by the telco. Bruce Akhurst is expected to leave in May after 15 years of service. Rick Ellis will be the acting CEO throughout the recruitment process. Shares in Telstra are trading 0.47 per cent up at $3.24.
Macquarie Bank, a unit of Australia's Macquarie Group (ASX:MQG), along with private-equity firm Providence Equity Advisors Mauritius, have reportedly bought a stake in Hathway Cable and Datacom. The Australian says the sale was worth $67.83 million. Shares in Macquarie Group are trading down 0.34 per cent at $26.16.
Best and worst performers
The best performing sector is Health Care gaining 122 points to 8,205. Shares in Sigma Pharmaceutical Limited (ASX:SIP) have risen 4.63 per cent and trading at $0.57. Shares in Biota Holdings and Ansell are also stronger.
The sector with the smallest gains is Consumer Discretionary, rising 2 points to 1,271. Shares in Kresta Holdings Limited (ASX:KRS) is down 5 per cent, trading at $0.19. Shares in AMA Group and Webjet follow at noon.
New Zealand
The NZSX50 is 11 points higher at noon.
Taking a look at the top four stocks by turnover, Fletcher Building is at the top of the list with stock 0.45 per cent higher at $6.72, followed by Telecom Corporation of New Zealand, Chorus and Westpac.
Gold and the dollar
Gold is trading at $US1,701an ounce and the Australian dollar is buying $US1.0522.
