Despite weak leads from Wall Street, the Australian share market opened in positive territory this morning and is tracking 0.45 per cent higher at noon. The big miners are doing the bulk of the heavy lifting with BHP and Rio gaining more than one per cent in the first hour of trade. The energy space has also made a recovery today after three straight sessions in the red.
The S&P/ASX 200 index is 24 points higher at 5,222. On the futures market the SPI is up 34 points.
Freelancer Limited (ASX:FLN)
has received confirmation of final regulatory approvals for the acquisition of Escrow.com from all the required regulators in the United States. Escrow.com is the leading provider of secure online payments and online transaction management for consumers and businesses on the internet. Shares in Freelancer are trading up 7.59 per cent at $1.70.
Automotive Holdings Group Limited (ASX:AHG)
says its in negotiations to acquire the distribution rights for Higer buses in Australia. The company says Higer produces are range of quality buses and the outcome will benefit existing and future customers of Higer in Australia. Shares in AHG are trading flat at $3.84.
Best and worst performers
The best performing sector is Energy, gaining 1.7 per cent to 8,848. Shares in AWE have risen 7.86 per cent and trading at 76 cents. Shares in Beach Energy and Oil Search are also stronger.
The worst performing sector is Industrials, falling 0.8 per cent to 4,731. Shares in Asciano have fallen 7.03 per cent, trading at $7.93. Shares in Transurban and McMillan Shakespeare are also lower.
Gold and the dollar
Gold is trading at $US1,185 an ounce.
The Australian dollar is buying 73.08 US cents.