The Australian share market extended gains to open at a fresh 20 month high and is 0.4 per cent up at noon, as investors continue to react positively to favourable economic data from China and the US.
The S&P/ASX 200 index is 20 points up at 4,830. On the futures market the SPI is 14 points higher.
Company news
Leighton Holdings Limited
(ASX:LEI) wholly owned subsidiary Thiess has been awarded a five year Sydney water maintenance contract valued at $175 million. Thiess General Manager Richard Kelleway says the contract win is a milestone for the company, which has been focusing on growing and investing in its core water and infrastructure services capabilities. Shares in Leighton Holdings are trading up 4.82 per cent at $20.00.
Karoon Gas Australia Limited
(ASX:KAR) shares have surged in early trade after the company confirmed an oil discovery at its Kangaroo-1 exploration well in the Santos Basin off the coast of Brazil. Karoon says drilling at the site has uncovered a light oil column, which has been confirmed by multiple geological data analysis. The discovery has bolstered the company’s confidence in the potential of its other prospects in the region. Shares in Karoon Gas are trading up 15.58 per cent at $6.23.
Best and worst performers The best performing sector is Industrials gaining 47 points to 3,712. Shares in Leighton Holdings Limited
(ASX:LEI) have risen 4.82 per cent and trading at $20.00. Shares in Transfield Services Limited
(ASX:TSE) and Toll Holdings Limited
(ASX:TOL) are also stronger.
The worst performing sector is Materials, falling 35 points to 10,679. Shares in Resolute Mining Limited
(ASX:RSG) have fallen 6.02 per cent, trading at $1.41. Shares in Mirabela Nickel Limited
(ASX:MBN) and Beadell Resources Limited
(ASX:BDR) are also lower.
Gold and the dollar
Gold is trading at $US1,664 an ounce and the Australian dollar is buying $US1.044.
