The Australian share market has followed global markets higher and is trading 0.6 per cent stronger at noon, boosted even further by better than expected CAPEX figures. Overnight Americans headed into the Thanksgiving holiday while Wall Street rose on the back of indications the US labour market is showing resilience. This economic optimism has spurred gains across Asian markets today. Locally all sectors are buoyant, supported by most blue-chip stocks moving higher.
Figures
The S&P/ASX 200 index has put on 30 points to sit at 5,363 at noon. On the futures market the SPI is 25 points higher.
Economic news
New private capital expenditure lifted against expectations of a fall in the September quarter. The Australian Bureau of Statistics (ABS) reports CAPEX rose 3.6 per cent to $40.87 billion in the quarter in the three months to September 2013.
Company news
Shares in Origin Energy Limited
(ASX:ORG) have risen 0.64 per cent after the energy company inked an agreement to supply gas to petroleum focussed BG Group's Queensland Curtis liquefied natural gas (LNG) project.
Shares in Charter Hall Group
(ASX:CHC) have firmed 0.27 per cent after striking a deal to sell a 50 per cent interest in the Little Bay Cove residential project in Sydney to Malaysia’s TA Global Development Pty Ltd. While the transaction is subject to approvals media reports speculate the stake is worth almost $98 million.
Shares in Warrnambool Cheese & Butter Factory Co.
(ASX:WCB) have gained 1.19 per cent as the takeover battle for the company escalates. Murray Goulburn has today boosted its bid to $9.50 which now values Warrnambool at $533 million. Shares in rival bidder Bega Cheese Limited
(ASX:BGA) have gained 1.08 per cent after supporting Murray Goulburn's Takeovers Panel application to block rival Saputo's bid.
Shares in Ceramic Fuel Cells Limited
(ASX:CFU) have soared 29.41 per cent after the developer of fuel cell technology agreed to sell a minimum of 1,000 of its BlueGEN units to a Baltic distributor in a deal worth around $30 million.
Best and worst performers
Most sectors are trading stronger: The best performing sector is health care firming 145 points to 14,296. Shares in Ansell Limited
(ASX:ANN) have risen 3.18 per cent and trading at $20.42. Shares in Primary Health Care Limited
(ASX:PRY) and Sigma Pharmaceutical Limited
(ASX:SIP) are also stronger.
The worst performing sector is real estate investment trusts, easing 2 points to 1,020. Shares in Federation Centres Limited
(ASX:FDC) have fallen 1.26 per cent, trading at $2.36. Shares in Cromwell Group (ASX:CMW )and Abacus Property Group
(ASX:ABP)are also lower.
Gold and the dollar
Gold is trading at $US1,238 an ounce.
The Australian dollar is buying $US0.9119, jumping back above $US0.91 on the back of CAPEX figures.
