Midday: Aus shares open higher

Market Reports

Following positive leads, the Australian share market opened higher and is up 0.65 per cent at noon.

The S&P/ASX 200 index is up 19 points at 4,190. On the futures market the SPI is 25 points higher.

Company news

Gunns Limited (ASX:GNS) has entered into a trading halt after a potential investor pulled out of equity raising. The woodchipper says it’s in discussion with equity investors in respect to the raising. Shares in Gunns last traded at 16 cents.

Westpac Banking Corporation (ASX:WBC) has announced group executive changes. The bank has appointed George Frazis as the new CEO of St George. Peter Clare will take the job as CEO of Westpac New Zealand. Shares in Westpac are trading 0.49 per cent higher at $20.51

Best and worst performers

The best performing sector is Energy gaining 213 points to 14, 206. Shares in Caltex Australia have risen 3.49 per cent and trading at $13.36. Shares in AWE and Worleyparsons are also stronger.

The worst performing sector is Consumer Staples down 20 points 7,288, Metcash dipping 0.49 per cent to $4.05. Shares Coca-Cola Amatil are lower. Shares in Goodman Fielder are steady at noon.

New Zealand

The NZSX50 is up 20 points at noon.  Taking a look at the top four stocks by turnover, Telecom Corporation is at the top of the list with stock 1.72 per cent higher at $2.37, followed by Fletcher Building, Westpac and ANZ.  

Gold and the dollar

Gold is trading at $US1,700 an ounce and the Australian dollar is buying $US1.0626.