Following strong offshore leads, the Australian share market opened higher this morning and is up 0.76 per cent at noon.
The S&P/ASX 200 index is 38 points firmer at 5,075. On the futures market the SPI is 39 points higher.
In economic news
The ABS has revealed Capital expenditure dropped in the December quarter. CAPEX fell 1.2 per cent to a seasonally adjusted 40.98 billion.
In company news
Treasury Wine Estates Ltd ( ASX:TWE) has turned in a thirty per cent rise in interim profit, to $52.3 million. Investors will receive a half-franked interim dividend of six cents. Treasury wine shares have surged 5.92 per cent to $5.19.
Annual net profit at Yancoal Australia Ltd
(ASX:YAL) has lifted more than thirty per cent to $404.59 million, as revenue dipped. The miner has vowed to push on with cost cutting, but failed to declare a full year dividend. Shares in Yancoal have gained 2.41 per cent to 85 cents.
Best and worst performers The best performing sector is energy, gaining 168 points to 13,388. Shares in Aurora Oil and gas (ASX: AUT) have gained 5.19 per cent and are trading at $3.85. Shares in Beach energy
(ASX:BPT) and Woodside Petroleum
(ASX:WPL) are also stronger.
The worst performing sector at midday is Telcos, falling 11 points to 1567. Shares in M2 telecommunications
(ASX:MTU) have fallen 0.9 per cent, to be trading at $4.42. Shares in Telstra
(ASX:TLS) and iinet ( ASX:IIN) are also lower.
Gold and the dollar
Gold is trading at $US1,596 an ounce.
The Australian dollar is buying $US1.025.
