The Australian share market has lifted at noon trading 0.2 per cent higher following a soft open to the day on mixed offshore leads.
The S&P/ASX 200 index is 10 points up at 4,729. On the futures market the SPI is pointing 11 points higher.
Company news Paladin Energy Limited
(ASX:PDN) shares have been given a boost today after its Canadian division rose following news of a potential Russian acquisition in the uranium sector. A subsidiary of Russian state-owned Rosatom has reportedly placed a $US1.3 billion bid for a stake in Canada’s Uranium One, Inc. (TSE:UUU). Shares in Paladin are trading up 4.21 per cent at $1.11.
Toll Holdings Limited
(ASX:TOL) has revealed a possible cost of about $15 million from its battle with the New Zealand Inland Revenue Department over the use of optional convertible notes to shuffle trans-Tasman income. A key Court of Appeal decision is still pending and could see more than a dozen Australian companies with New Zealand subsidiaries hit with extra tax bills. Shares in Toll are trading up 0.81 per cent at $4.96.
Best and worst performers The best performing sector is health care gaining 109 points to 11,623. Shares in Acrux Limited
(ASX:ACR) have risen 2.43 per cent and trading at $2.95. Shares in CSL and ResMed are also stronger.
The worst performing sector is telco services, falling 3 points to 1,532. Shares in iiNet Limited
(ASX:IIN) have fallen 0.78 per cent, trading at $4.48. Shares in M2 Telecommunications Group and Telstra are also lower.
IPOs Ecosave Holdings Limited
(ASX:ECV) started trading today. Floating with an issue price of $1.00, opening at $1.40 and currently trading at $1.30.
Gold and the dollar Gold is trading at $US1,669 an ounce and the Australian dollar is buying $US1.056.
