The Australian share market followed offshore markets higher at open, pushing over the 4,900 point threshold and is 0.9 per cent up at noon, with most major sectors trading higher so far today.
The S&P/ASX 200 index is 45 points up at 4,927. On the futures market the SPI is 44 points higher.
Economic news
Retail spending dropped 0.2 per cent in December, below analyst expectations of a 0.3 per cent rise, according to the Australian Bureau of Statistics. Total retail spending reached $21.42 billion in the Christmas month, down from $21.53 billion in November.
Company news
Portable storage company Royal Wolf Holdings Limted
(ASX:RWH) has lifted its first half net profit by 32.1 per cent to $6.6 million, attributed to growth in leasing volumes and revenue across its three product segments. The company will pay shareholders an interim dividend of 4.5 cents per share. Shares in Royal Wolf Holdings are trading up 3.92 per cent at $2.65.
Capitol Health Limited
(ASX:CAJ) expects to lift its half year net profit by 13.7 per cent to a record $1.4 million, driven by operational efficiencies and scale benefits derived from IT infrastructure investment. The healthcare services provider expects strong growth to continue into the second half of the current financial year, based on its current trading performance and its assessment of the market outlook. Shares in Capitol Health are trading 9.09 per cent higher at $0.12.
Best and worst performers The best performing sector is Consumer Staples, gaining 134 points to 9,495. Shares in Goodman Fielder Limited
(ASX:GFF) have risen 4.29 per cent and trading at $0.77. Shares in Metcash Limited
(ASX:MTS) and Wesfarmers Limited
(ASX:WES) are also stronger.
The worst performing sector is Telco Services, falling 10 points to 1,570. The worst performing stocks are all from within the Telco sector, with Shares in Telstra Corporation Limited
(ASX:TLS) falling 0.76 per cent, trading at $4.58. Shares in iiNet Limited
(ASX:IIN) are trading higher while Singapore Telecommunications Limited
(ASX:SGT) is slightly higher at midday.
Gold and the dollar
Gold is trading at $US1,675 an ounce and the Australian dollar is buying $US1.037.
