Following positive leads the Australian share market opened higher and is 0.2 per cent up at noon. Across the local sectors most are trading higher, supported by gains among the Big Four Banks and major miners. The broader materials sector is also strong with the gold-sub index jumping 2.5 per cent.
Figures
The S&P/ASX 200 index is 12 points up at 5,401. On the futures market the SPI is 15 points higher.
Company news Shares in Noni B Limited
(ASX:NBL) have plunged after revealing its sales on a comparable store basis dropped 14 per cent in the first quarter of this year from last year. The company claims they have resisted consumer expectations for discounts in order to maintain higher margins. Shares in Noni B are trading down 13.64 per cent at $0.48.
Takeover target Leighton Holdings Limited
(ASX:LEI) has announced the appointment of Mr Javier Loizaga as Chief Financial Officer of the building and engineering firm. Mr Loizaga is a civil engineer by training and was most recently Co-Chairmen and CEO of N+1 Mercapital, a Spanish investment firm. Shares in Leighton are trading down 0.29 per cent at $20.84.
The best and worst performers The best performing sector is consumer discretionary gaining 18 points to 1,829. Shares in Twenty-First Century Fox Inc
(ASX:FOX) have risen 3.53 per cent and trading at $34.58. Shares in Crown Resorts Limited
(ASX:CWN) and News Corp
(ASX:NWS) are also stronger.
The worst performing sector is utilities, falling 10 points to 5,521. Shares in DUET Group
(ASX:DUE)have fallen 0.48 per cent, trading at $2.07. Shares in AGL Energy Limited
(ASX:AGK) and APA Group
(ASX:APA) are also lower.
Gold and the dollar
Gold is trading at $US1,282 an ounce.
The Australian dollar is buying $US0.924
