Following positive leads the Australian share market opened higher and is 0.8 per cent stronger at noon.
The S&P/ASX 200 index is 34 points up at 4,181. On the futures market the SPI is 37 points higher.
Company news
Mirvac Group (ASX:MGR) has obtained planning approval for its landmark residential apartment development at Harold Park in Sydney. Since its marketing launch last year 180 of the 296 apartments and terraces in the first residential precinct have been sold off the plan. Shares in Mirvac Group are trading up 0.76 per cent at $1.33.
Dual listed Elemental Minerals Limited (ASX:ELM) has announced the completion of its Phase 2B Resource Expansion Drill programme in the Republic of Congo. The explorer for potash resources says the completion of the expansion program is an important step to finalising the inputs for the pre-feasibility study due for release in September. Shares in Elemental Minerals are trading up 4.07 per cent at $0.64.
Best and worst performers
The best performing sector is materials gaining 116 points to 9185. Shares in Ramelius Resources Limited(ASX:RMS) have risen 4.59 per cent and trading at $0.57. Shares in Iluka Resources Limited (ASX:ILU) and Newcrest Mining Limited (ASX:NCM) are also stronger.
The worst performing sector is Utilities, falling 26 points to 5,052. Shares in AGL Energy Limited (ASX:AGK) have fallen 1.13 per cent, trading at $15.80. Shares in SP AusNet (ASX:SPN) and Spark Infrastructure Group (ASX:SKI) are also lower.
Gold and the dollar
Gold is trading at $US1,613 an ounce.
The Australian dollar is buying $US1.04.