Following a flat start to the day, the Australian share market is 0.3 per cent up at noon.
The S&P/ASX 200 index is 8 points up at 4,346. On the futures market the SPI is 25 points higher.
Company news
Metcash Limited (ASX:MTS) has requested a trading halt, pending a board meeting on Monday relating to impairment charges.
Earlier this month the grocery wholesaler criticised supermarket giants Woolworths Limited (ASX:WOW) and Wesfarmers Limited (ASX:WES)owned Coles, for their 80 per cent market share. Shares in Metcash last traded at $4.30.
Tabcorp Holdings Limited (ASX:TAH ) has welcomed a decision by the High Court, ruling in favour of Racing NSW and Harness Racing NSW. Tabcorp says the judgements will allow the racing industry to decide what price to set for its product and give the flexibility to determine the method by which that price is set. Shares in Tabcorp are trading flat at $2.71.
Best and worst performers:
The best performing sector is Materials gaining 113 points to 11,023. Shares in Rio Tinto Limited (ASX:RIO) have risen 2.04 per cent and trading at $65.67. Shares in Intrepid Mines and Remelius Resources are also stronger.
The worst performing sector is Real Estate Investment Trusts, falling 6 points to 823. Shares in Stockland (ASX:SGP) have fallen 1 per cent, trading at $2.97. Shares in Mirvac and Ardent Leisure Group are also lower.
New Zealand
The NZSX50 is 3 points up at noon.
Taking a look at the top four stocks by turnover, Telecom Corporation of New Zealand is at the top of the list with stock down 1.22 per cent at $2.42, followed by Westpac, Fletcher Building and Ryman Healthcare.
Gold and the dollar
Gold is trading at $US1,661 an ounce and the Australian dollar is buying $US1.0375
