After positive leads the Australian share market lifted this morning and is trading 0.6 per cent higher at noon as speculation circles there could be more stimulus to come from global banks and the local reporting season gains momentum.
The S&P/ASX 200 index is trading 26 points higher at 4,318. On the futures market the SPI is 34 points higher.
Company news
Engineering company UGL Limited (ASX:UGL) has been awarded a $99.45 million resources contract for work at BHP Billiton Limited’s (ASX:BHP) Jimblebar Mine in Western Australia.
Mineral explorer Ampella Mining Limited (ASX:AMX) says the sample preparation laboratory at its wholly owned Batie West Gold Project in Burkina Faso has been commissioned and is fully operational.
Mining company NSL Consolidated Limited (ASX:NSL) has received backing from a major Singapore investment and trading house through $2.5 million in funding and iron ore marketing agreements.
Africa focussed Continental Coal Limited (ASX:CCC) has announced its maiden JORC compliant inferred coal resource at its Kweneng Coal Project in Botswana.
Diagnostic product business Genetic Technologies Limited (ASX:GTG, NASDAQ:GENE) has hit a milestone having scored European approval for its breast cancer risk test BREVAGen.
Best and worst performers
The best performing sector is energy gaining 133 points to 12,607. Shares in Senex Energy Limited (ASX:SXY) have risen 4.3 per cent and trading at $0.67. Shares in Paladin Energy Limited (ASX:PDN) and Whitehaven Coal Limited (ASX:WHC) are also stronger.
The worst performing sector is telco services, falling 23 points to 1,370. Shares in Telstra Corporation Limited (ASX:TLS) have fallen 1.72 per cent, trading at $4.00. Shares in Telecom Corporation of New Zealand (ASX:TEL) are lower while shares in TPG Telecom Limited (ASX:TPM) are flat.
Gold and the dollar
Gold is trading at $US1,611 an ounce.
The Australian dollar is buying $US1.055.