The Australian share market shot up at the open after positivity from global share markets. It is now tracking 1.3 per cent higher at noon. Pro Medicus (ASX:PME) rose as did Netwealth Group (ASX:NWL) and Nearmap (ASX:NEA). Declines were seen in Evolution Mining (ASX:EVN), and Ingenia Communities Group (ASX:INA). The best-performing sector is Infotech, while the worst performing sector is Materials.
The S&P/ASX 200 index is 89 points up at 6,779. On the futures market the SPI is 89 points higher.
Tower (ASX:TWR) today announced that Tower Insurance Limited has settled its purchase of Youi New Zealand. Ownership of Youi New Zealand’s approximately 34,000 in-force policies have already transferred to Tower. Youi customers remain covered under their existing terms for the remainder of their contract. Shares in Tower (ASX:TWR) are trading 0.8 per cent higher at $0.68.
Best and worst performers
The best-performing sector is Infotech, adding 2.6 per cent, while the worst performing sector is Materials, gained the least at 0.9 per cent.
The best performing stock in the S&P/ASX 200 is Pro Medicus (ASX:PME) rising 4.7 per cent to $23.34, followed by shares in Netwealth Group (ASX:NWL) and Nearmap (ASX:NEA).
The worst performing stock in the S&P/ASX 200 is Evolution Mining (ASX:EVN), dropping 1.9 per cent to $3.68, followed by shares in Ingenia Communities Group (ASX:INA) and Newcrest Mining (ASX:NCM).
Commodities and the dollar
Gold is trading at US$1,531 an ounce.
Iron ore futures are pointing to a lift of 0.6 per cent.
One Australian dollar is buying 69.86 US cents.