The Australian share market defied weak leads and lifted 0.6 per cent at open but pulled back from highs ahead of noon. The consumer staples sector is leading the gains, boosted by conglomerate Wesfarmers Limited
(ASX:WES) after reporting an 11 per cent rise in its full year net profit.
The S&P/ASX 200 index is trading 19 points higher at 4,300. On the futures market the SPI is 17 points higher.
Company news Breads and spreads producer Goodman Fielder Limited
(ASX:GFF) has dismissed speculation that it has received a takeover offer from its shareholder Wilmar International or any other parties.
Real estate developer Dexus Property Group
(ASX:DXS) has reported a 67 per cent drop on its fiscal 2012 profit but forecast earnings growth in the year ahead.
Cement maker Adelaide Brighton Limited
(ASX:ABC) has increased its half year net profit by 9.8 per cent but warned to expect weakness in the residential and non-residential sectors this year.
Alumina refining company, Alumina Limited
(ASX:AWC) has blamed difficult market conditions for deciding not pay an interim dividend after swinging to a first half net loss of $14.6 million.
Best and worst performers The best performing sector is consumer staples gaining 104 points to 8,272. Shares in Wesfarmers Limited
(ASX:WES) have risen 2.09 per cent and trading at $33.17. Shares in Woolworths Limited
(ASX:WOW) and Metcash Limited
(ASX:MTS) are also stronger.
The worst performing sector is health care, falling 26 points to 9,488. Shares in Primary Health Care Limited
(ASX:PRY) have fallen 2.31 per cent, trading at $3.38. Shares in CSL Limited
(ASX:CSL) are lower while shares in ResMed Inc.
(ASX:RMD) are higher.
Gold and the dollar
Gold is trading at $US1,605 an ounce.
The Australian dollar is buying $US1.05.
