The Australian share market has crept up from a flat open and is about 0.2 per cent higher at noon following Wall Street’s positive lead, despite lingering caution ahead of a European Union summit tomorrow.
The S&P/ASX 200 index has crept up 11 points as is sitting at 4,024. On the futures market the SPI is 10 points higher.
Company news
BHP Billiton Limited (ASX:BHP) has acquired more Olympic Dam exploration licences in South Australia from listed mineral explorer Copper Range Limited (ASX:CRJ). BHP will pay Copper Range $3 million for four exploration licences and five exploration licence applications. The announcement sent Copper Range shares more than 20 per cent higher in morning trade while shares in BHP are trading 0.2 per cent lower at $30.57.
Shares in Exoma Energy Limited (ASX:EXE) have jumped on news the onshore oil and gas explorer has significantly expanded its Queensland exploration interests. Exoma has accepted four new exploration blocks in Central Queensland from the state government. The company’s joint venture partner, China National Offshore Oil Corporation Gas & Power, will take up a 50 per cent participating interest in each of the four permits. Shares in Exoma Energy have jumped 10 per cent and are trading at $0.11.
Best and worst performers
The best performing sector is Consumer Discretionary gaining 12 points to 11,208. Shares in News Corp (ASX:NWS) have risen 3.42 per cent and trading at $21.50. Shares in Seven West Media Limited (ASX:SWM) and Fairfax Media Limited (PASX:FXJ) are also stronger.
The worst performing sector is Materials, falling 42 points to 9,235. Shares in Ramelius Resources Limited (ASX:RMS) have fallen 4.85 per cent, trading at $0.49. Shares in Iluka Resources Limited (ASX:ILU) and Integra Mining Limited (ASX:IGR) are also lower.
Gold and the dollar
Gold is trading at $US1,574 an ounce.
Te Australian dollar is buying $US1.005.
