Midday: ASX follows global markets higher

Market Reports

Despite dipping into the red at open the Australian share market has crawled onto positive territory and is up 0.3 per cent at noon as the last official day of reporting season is underway.  
Wall Street rose as better than expected US growth figures gave markets a boost. However investors remain wary over the potential of US military action in Syria and the possibility the US Federal Reserve may scale back its stimulus program.
The S&P/ASX 200 index has added 6 points and is trading at 5,098. On the futures market the SPI is 4 points higher. 
Reporting season results
Shares in Harvey Norman Holdings Limited (ASX:HVN) have improved 1.39 per cent on the electrical retailer’s promising outlook despite revealing its net profit dropped 17.5 per cent to $142 million in the 2013 financial year. 
Shares in Evolution Mining Limited (ASX:EVN) have risen 3.89 per cent after the gold miner maintained its maiden dividend payment despite posting an annual loss of $307 million and booking more than $350 million in write-downs. 
Shares in Arena REIT (ASX:ARF) have gained 0.47 per cent after the childcare property trust lifted its annual net profit by 9.8 per cent, forecast earnings growth and flagged potential acquisitions. 

Shares in Centuria Capital Limited (ASX:CNI) have slumped 6.49 per cent despite the diversified funds manager more than tripling its annual net profit to $7.3 million but opting not to pay a final dividend due to costs relating to its new listed property and Asian divisions.
Best and worst performers
The best performing sector is utilities gaining 34 points to 5,428. Shares in Energy World Corporation Limited (ASX:EWC) have risen 2.84 per cent and trading at $0.45. Shares in AGL Energy Limited (ASX:AGK) and SP AusNet (ASX:SPN) are also stronger. 
The worst performing sector is health care, falling 10 points to 13,791. Shares in Ansell Limited (ASX:ANN) have fallen 1.67 per cent, trading at $19.36. Shares in Acrux Limited (ASX:ACR) and Mesoblast Limited (ASX:MSB) are also lower. 
Gold and the dollar
Gold is trading at $US1,407 an ounce. 
The Australian dollar is buying 89.39 US cents.

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