The Australian share market opened higher today and has been trading in positive territory, currently 0.6 per cent up.
The S&P/ASX 200 index is 31 points up at 4,104. On the futures market the SPI is 32 points higher.
Company news
Speaking at its annual general meeting, Leighton Holdings Limited's (ASX:LEI) chief has affirmed its growth for the future, expecting to report a net profit of between $400 and $450 million for the 2012 financial year. Leighton has suffered more than $200 million in profit write-backs due to problems associated with the Airport Link and Victorian Desalination projects. Some of Leighton’s largest investors have reportedly sold off their shares according to The Australian Financial Review this morning. Shares in Leighton are trading up 2.46 per cent at $17.71.
Ruralco Holdings Limited (ASX:RHL) has booked a net loss of $10 million for its half-year, representing a 2 per cent decline from the year before. The rural and property services group has suffered widely variable weather around the country. In the six months, revenue rose 8.8 per cent from the corresponding period last year and the agribusiness says the recent devaluation of the Australian dollar has boosted its outlook.
Shares in Ruralco are trading flat at $3.12.
Best and worst performers
The best performing sector is Industrials gaining 58 points to 3,435. Shares in Monadelphous Group Limited (ASX:MND) have risen 7.13 per cent and trading at $20.44. Shares in NRW Holdings and Boart Longyear are also stronger.
The sector with the smallest gains is Health Care, gaining 8 points to 8,911. Shares in Ramsay Health Care Limited (ASX:RHC) have fallen 1.04 per cent, trading at $20.90. Shares in Ansell and Cochlear are slightly higher.
Gold and the dollar
Gold is trading at $US1,591 an ounce and the Australian dollar is buying 99.03 US cents.
