Following a positive lead from Wall Street the Australian share market has lifted 0.4 per cent this morning. Buoyed by gains in the banking sector the benchmark has again risen above the 5,500 despite weakness among energy and mining stocks. Over the week the benchmark index is on track to post a weekly gain despite starting the week with a sell-off.
Figures
The S&P/ASX 200 index has lifted 26 points to 5,506 at noon. On the futures market the SPI is 28 points higher.
Company news
Dual-listed Fisher & Paykel Healthcare Corp Limited (ASX:FPH, NZE:FPH) has reported record full year net profit and operating revenue. The New Zealand-based medical device manufacturer grew its net profit 26 per cent while operating revenue rose 13 per cent in the year to the end of March. CEO Michael Daniell has described the results as pleasing and says they show the increasing use of the company’s products by hospital clinicians and homecare providers. Shares in Fisher & Paykel Healthcare Corp have risen 1.28 per cent and are trading $3.95 at noon.
Shares in Perth-based gold producer and explorer Regis Resources Limited
(ASX:RRL) have retreated after releasing a operating update and production guidance. The company has addressed recent flooding at its Garden Well open pit and confirmed normal mining of ore and waste remains on schedule to start up at the end of next month. Regis Resources says it will now focus on optimising the mining schedules, achieving the best possible steady state mill throughput rates and implementing a review of all operating costs. Shares in Regis Resources have retreated 10.53 per cent and are trading at 2.04 at noon.
Best and worst performers
The best performing sector is real estate investment trusts gaining 10 points to 1,071. Shares in Westfield Retail Trust
(ASX:WRT) have risen 1.25 per cent and trading at $3.24. Shares in Westfield Group
(ASX:WDC) and GPT Group
(ASX:GPT) are also stronger.
The worst performing sector is energy, falling 36 points to 14,333. Shares in Horizon Oil Limited
(ASX:HZN) have dipped 1.33 per cent, trading at $0.37. Shares in Woodside Petroleum Limited
(ASX:WPL) and Whitehaven Coal Limited
(ASX:WHC) are also lower.
Gold and the dollar
Gold is trading at $US1,294 an ounce.
The Australian dollar is buying $US0.9238.
