The Australian share market has rebounded out of a week in the red and is trading 1 per cent stronger at noon. The gains come after the Dow Jones Industrial Average closed above the 16,000-mark for the first time. Weaker US data temporarily overshadowed concerns about a wind down in US economic stimulus.
While the price of gold is fairly unchanged the local gold miners have lifted from yesterday’s steep declines. Energy stocks have continued to travel higher on the back of higher oil prices, leading the charge as all major sectors are trading on positive ground.
Figures
The S&P/ASX 200 index has spiked 51 points and is sitting at 5,339. On the futures market the SPI is 50 points higher.
Stocks to watch
Shares in Goodman Group
(ASX:GMG) have gained 1.43 per cent after the property investor revealed its made a $1.5 billion bid for 34 Brazilian industrial assets with its Brazilian JV partner WTGoodman.
Shares in Senex Energy Limited
(ASX:SXY) have leapt 6.25 per cent, and its project partner Cooper Energy Limited
(ASX:COE) is 3.49 per cent higher, after the oil and gas explorers announced a new oil discovery at the Worrior oil field in South Australia’s Cooper Basin.
Shares in Fisher & Paykel Healthcare Corp Limited
(ASX:FPH) have dropped 1.19 despite the New Zealand- based medical equipment manufacturer reporting a record first-half profit and maintaining its annual profit outlook.
Shares in DataDot Technology Limited
(ASX:DDT) have jumped 22.22 per cent after the manufacturer of asset identification solutions inked a Canadian joint venture to market its products in the country.
Best and worst performers
All the major sectors are buoyant: The best performing sector is energy, shooting up 208 points to 13,553. Shares in Senex Energy Limited
(ASX:SXY) have risen 6.25 per cent and trading at $0.85. Shares in Horizon Oil Limited
(ASX:HZN) and Aurora Oil & Gas Limited
(ASX:AUT) are also stronger.
The sector with the fewest gains is real estate investment trusts, adding 9 points to 1,017. Shares in Cromwell Group
(ASX:CMW) have fallen 0.25 per cent, trading at $1.01. Shares in Commonwealth Property Office Fund (ASX:CPA are lower while shares in GPT Group
(ASX:GPT) are trading steady at noon.
Gold and the dollar
Gold is trading at $US1,243 an ounce
The Australian dollar has climbed back about $US0.92 and is buying $US0.9237.
