Following mixed US leads the Australian share market opened higher and has edged up 0.3 per cent at noon with the health care sector leading the gains.
The S&P/ASX 200 index is 13 points up at 4,315. On the futures market the SPI is 21 points higher.
Company news
National Australia Bank Limited (ASX:NAB) has confirmed it will uphold its pledge of having the lowest interest rates of the big four banks. The comments come a week after the ANZ bank lifted its standard variable rate to 7.42 per cent. All four major banks are anticipated to post earnings of more than $12 million for the first half of the 2012 financial year. Shares in NAB are trading up 1.22 per cent at $24.95.
Mineral sands producer Iluka Resources Limited (ASX:ILU) has discovered an additional heavy mineral at its Sonoran deposit in South Australia. Illuka’s General Manager says the Sonoran discovery is a significant resource addition following on from the Atacama discovery a year ago. Iluka downgraded its first quarter production figures last week due to lower than expected output figures. Shares in Iluka are trading down 1.35 per cent at $16.83.
Best and worst performers
The best performing sector is Healthcare gaining 85 points to 8,831. Shares in CSL Limited (ASX:CSL) have risen 2.01 per cent and trading at $37.00. Shares in Blackmores and Sonic Healthcare are also stronger.
The sector with the smallest gains is Energy, up 3 points to 13,982. Shares in Karoon Gas Australia Limited (ASX:KAR) rose 1.01 per cent, trading at $5.99. Shares in Caltex Australia and Gloucester Coal are also higher.
New Zealand
The NZSX50 is 4 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 up 1 per cent at $2.515, followed by Ryman Healthcare, Fletcher Building and Westpac.
Gold and the dollar
Gold is trading at $US1,650 an ounce.
The Australian dollar is buying $US1.0342 cents.
