The Australian share market inched into positive territory at open and is 0.17 per cent up at noon despite Wall Street falling amid ongoing fiscal cliff concerns.
The S&P/ASX 200 index is 8 points up at 4,590. On the futures market the SPI is 5 points higher.
Company newsAJ Lucas Group Limited
(ASX:AJL) shares have soared in morning trade following Britain lifting a ban on controversial shale gas exploration.
The mining services company holds a 42 per cent stake in Britain’s only licensed shale gas explorer, Cuadrilla. Shares in AJ Lucas are trading up 26.32 per cent at $0.96.
Australand Property Group
(ASX:ALZ) has rejected an offer for its commercial, industrial and investment property portfolio from fellow property company GPT Group
(ASX:GPT). Australand says the proposal does not provide a compelling value proposition and therefore is not in the best interests of its shareholders. Shares in Australand are trading down0.31 per cent at $3.19.
Best and worst performersThe best performing sector is Consumer Staples gaining 39 points to 8,828. Shares in Metcash Limited
(ASX:MTS) have risen 1.25 per cent and trading at $3.23. Shares in Wesfarmers Limited
(ASX:WES) and Coca-Cola Amatil Limited
(ASX:CCL) are also stronger.
The worst performing sector is Consumer Discretionary, falling 7 points to 1,331. Shares in APN News and Media Limited
(ASX:APN)have fallen 6.35 per cent, trading at $0.29. Shares in Fairfax Media Limited
(ASX:FXJ) and Tabcorp Holdings Limited
(ASX:TAH)are also lower.
Gold and the dollarGold is trading at $US1,695 an ounce and the Australian dollar is buying $US1.052.
