Midday: Aus shares break through 5,300

Market Reports

The Australian share market has broken through the psychologically significant barrier of 5,300 and is on track for a weekly gain after Wall Street snapped a losing streak overnight. Leaping at open local stocks have since pulled back from highs but most sectors are still on positive ground. A stronger oil price has fuelled gains in the energy sector and health stocks are also upbeat while the supermarket giants, Woolworths Limited (ASX:WOW) and Wesfarmers Limited (ASX:WES), are weighing down consumer staples.  
 
Figures
 
The S&P/ASX 200 index has added 10 point to 5,304 at noon. On the futures market the SPI is 1 point higher. 
 
Company news
 
Shares in Perpetual Limited (ASX:PPT) have risen 1.02 per cent after the wealth manager won final regulatory approval from New Zealand for its proposed takeover of The Trust Company Limited (ASX:TRU)
 
Shares in G8 Education Limited (ASX:GEM) remain in a trading halt though the child care services provider today announced it has contracts in place to buy 29 childcare and education centres across New South Wales, Tasmania and Victoria. 
 
Shares in Programmed Maintenance Services Limited (ASX:PRG) have gained 3.45 per cent after scoring a $100 million contract to provide services to Heerema Marina Contractors for its work on the Ichthys LNG Project. 
 
Shares in Mirabela Nickel Limited (ASX:MBN) have shed more than half of their value after informing the market one of its two customers plan to shut down its smelting facilities from November due to adverse nickel market conditions.
 
Best and worst performers
 
The best performing sector is energy gaining 151 points to 14,411. Shares in Linc Energy Limited (ASX:LNC) have risen 5.28 per cent and trading at $1.70. Shares in Senex Energy Limited (ASX:SXY) and Santos Limited (ASX:STO) are also stronger. 
 
The only major sector in the red is consumer staples, falling 49 points to 10,006. Shares in Wesfarmers Limited (ASX:WES) have eased 0.72 per cent, trading at $41.51. Shares in Woolworths Limited (ASX:WOW) are also lower while shares in and Treasury Wine Estates Limited (ASX:TWE) are steady at noon. 
 
Gold and the dollar
 
Gold is trading at $US1,323 an ounce. 
The Australian dollar is buying 93.49 US cents.

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