The Australian share market has jumped 0.6 after Wall Street hit fresh records overnight and the European Central Bank’s (ECB) steady rate call lifted European markets. Robust US jobs growth pushed the Dow above the key 17,000 barrier, shot the S&P 500 to its third session of record highs and saw the Nasdaq close 0.6 per cent stronger. On the local bourse the miners are leading most sectors higher, while blue chip banks and Telstra Corporation Limited
(ASX:TLS) are also making gains.
Figures
The S&P/ASX 200 index has moved 33 points higher to 5,524. On the futures market the SPI is 34 points stronger.
Company news
Shares in Evolution Mining Limited
(ASX:EVN) have shot up after announcing record annual gold production. The miner boosted its output by 9 per cent to more than 427,000 ounces gold equivalent, aided by a strong June quarter. Executive Chairman Jake Klein says the record result was achieved from a diverse portfolio of assets, enabling the company to deliver operational predictability. Shares in Evolution Mining are trading 5.48 per cent higher at $0.77.
M2 Group Limited
(ASX:MTU) has reported net organic growth of 71,000 post paid services in the second half and affirmed its full year earnings guidance. The telecommunications services provider says the growth was delivered in all segments including fixed voice, broadband and energy services. M2 has also confirmed it expects to report full year earnings at the mid-point of its guidance when it releases results on August 25. Shares in M2 Group are trading 1.36 per cent higher at $5.98.
Best and worst performers
The best performing sector is materials, advancing 0.9 per cent to 10,139. Shares in Lynas Corporation Limited
(ASX:LYC) have risen 6 per cent and trading at $0.13. Shares in Evolution Mining Limited
(ASX:EVN) and Sirius Resources NL
(ASX:SIR) are also stronger.
The worst performing sector is real estate investment trusts, easing 0.1 per cent to 1,074. Shares in Abacus Property Group
(ASX:ABP) have fallen 3.68 per cent, trading at $2.48. Shares in Charter Hall Retail REIT
(ASX:CQR) and Goodman Group
(ASX:GMG) are also lower.
Gold and the dollar
Gold is trading at $US1,319 an ounce.
The Australian dollar is buying $US0.9354.
