Following positive leads, the Australian share market opened higher and is a 0.6 per cent up at noon.
Figures
The S&P/ASX 200 index is 30 points up at 5,451. On the futures market the SPI is 33 points higher.
Economic news
The ABS has reported the new car sales fell in March by 0.3 per cent. The National Australia Bank business survey for March has found business conditions lifted slightly, while business confidence slipped.
Company news
Woodside Petroleum Limited
(ASX:WPL) has reported a drop of 0.9 per cent in output for the March quarter down to 23 million barrels of oil equivalent mainly due to lower volumes at its Pluto Gas field.
The oil and gas company however boosted revenue 16 per cent in the period, making $US1.68 billion for the three months to March. The company signed two new sales and purchase agreements with Korea gas and Chubu Electric for LNG sourced from their Pluto project. Shares in Woodside are up 0.63 per cent, trading at $39.84
All sectors are up today
The best performing sector is consumer staples gaining 113 points to 10,018. Shares in Woolworths Limited
(ASX:WOW) have risen 1.60 per cent and trading at $36.92. Shares Metcash Limited
(ASX:MTS) and Wesfarmers Limited
(ASX:WES) are also stronger.
The sector with the least gains is Utilities, gained 12 points to 5,659. Shares in DUET Group
(ASX:DUE) have fallen 0.47 per cent, trading at $2.11. Shares AGL Energy Limited
(ASX:AGK) is lower while APA Group
(ASX:APA) is slightly higher.
IPO Japara Healthcare Limited
(ASX:JHC) started trading today.
The residential aged care providor floated with an issue price of $2.00, opened at $2.41 and is currently trading at $2.55. Japara Healthcare is one of Australia’s largest residential aged care operators, managing 35 aged care facilities and 4 retirement complexes throughout Victoria, South Australia, NSW and Tasmania. They look after more than 3,100 residents.
Gold and the dollar
Gold is trading at $US1,301 an ounce.
The Australian dollar is buying $US0.9372.
