Despite mixed leads, the Australian share market has risen 0.4 per cent on the back of better than expected US jobs data and positive Chinese inflation figures.
The S&P/ASX 200 index is 19 points up at 4,571. On the futures market the SPI is 17 points higher.
Economic news
The Australian Bureau of Statistics says home loan demand grew below expectations in October, rising by 0.1 per cent to 46,477. The result is below an expected 3 per cent increase. Total housing finance grew by 1.8 per cent to $21.6 billion in October.
Company news
Ten Network Holdings Limited
(ASX:TEN) shares nosedived out of a trading halt this morning, despite the institutional component of the networks $230 million capital raising closing successfully. Ten has raised approximately $167 million through the issue of new shares to institutional investors, priced at 20 cents each. The retail shareholder component of the capital raising will take place in January. Shares in Ten are trading down 5.37 per cent at $0.26.
Macmahon Holdings Limited
(ASX:MAH) shares have entered a trading halt ahead of a release to the market regarding a possible equity raising and strategic update. Trading activity will remain frozen until the announcement is issued or the opening of trade on Wednesday.
Shares in Macmahon last traded at $0.27.
Best and worst performers The best performing sector is Real Estate Investment Trusts, gaining 10 points to 984. Shares in Australand Property Group
(ASX:ALZ) have risen 5.13 per cent and trading at $3.18. Shares in Mirvac Group
(ASX:MGR) and Commonwealth Property Office Fund
(ASX:CPA) are also performing stronger at midday.
The worst performing sector is Healthcare, falling 58 points to 11,607. Shares in Acrux Limited
(ASX:ACR) have fallen 2.55 per cent, trading at $2.87. Shares in CSL Limited
(ASX:CSL) and Primary Health Care Limited
(ASX:PRY) are also lower so far today.
Gold and the dollar
Gold is trading at $US1,706 an ounce and the Australian dollar is buying $US1.048.
