Following positive leads, the Australian share market opened higher and is 0.8 per cent up at noon, soaring in early trade on the back of muscular gains from the big four banks, with ANZ leading the way after it reported a swelling half year profit and a lift in its interim dividend.
The S&P/ASX 200 index is 40 points up at 5,166. On the futures market the SPI is 29 points higher.
Company news
Whitehaven Coal Limited
(ASX:WHC) has maintained its full year production guidance after seeing a rise in third quarter coal output. A ramp up in operations at the Narrabri Longwall in New South Wales was the chief driver of a 76 per cent coal production increase, prompting White Haven to reaffirm its full year guidance of 9 million tonnes. Shares in Whitehaven Coal are trading down 0.26 per cent at $1.96.
Beach Energy Limited
(ASX:BPT) says lower gas output at the Moomba plant in the Cooper Basin is behind a third quarter production decline. Gas production fell to 1.81 million barrels from 1.99 million in the previous corresponding period, however beach says the fall was partly offset by a lift in oil production. Shares in Beach Energy are trading down 0.36 per cent at $1.39.
Best and worst performers The best performing sector is Financials excluding real estate investment trusts gaining 124 points to 6,758. Shares in Australia and New Zealand Banking Group
(ASX:ANZ) have risen 3.72 per cent and trading at $31.22 Shares in Suncorp Group Limited
(ASX:SUN) and National Australia Bank Limited
(ASX:NAB) are also stronger.
The worst performing sector is Consumer Staples, falling 70 points to 10,556. Shares in Woolworths Limited
(ASX:WOW) have fallen 1.67per cent, trading at $35.90. Shares in Treasury Wine Estates Limited
(ASX:TWE) are lower, while Metcash Limited
(ASX:MTS) is trading steady.
Gold and the dollar
Gold is trading at $US1,473 an ounce and the Australian dollar is buying $US1.035.
