The market has made sharp gains this morning. Strong trading was seen in Fortescue Metals (ASX:FMG)
, Telstra (ASX:TLS)
, South32 (ASX:S32)
and Beach Energy (ASX:BPT)
At noon, the S&P/ASX 200 was 0.94 per cent or 69.40 points higher at 7451.30.
The SPI futures are pointing to a rise of 66 points.Best and worst performers
The best-performing sector is Materials, up 2.82 per cent. The worst-performing sector is Health Care, down 0.23 per cent.
The best-performing stock in the S&P/ASX 200 is Champion Iron (ASX:CIA)
, trading 5.41 per cent higher at $4.48. It is followed by shares in Fortescue Metals Group (ASX:FMG)
and Omni Bridgeway (ASX:OBL)
The worst-performing stock in the S&P/ASX 200 is Eagers Automotive (ASX:APE)
, trading 2.76 per cent lower at $13.37. It is followed by shares in Ansell (ASX:ANN)
and Fisher & Paykel Healthcare (ASX:FPH)
.Commodities and the dollar
Gold is trading at US$1860.60 an ounce.
Iron ore is 5.3 per cent higher at US$94.20 a ton.
Iron ore futures are pointing to a rise of 1.1 per cent.
One Australian dollar is buying 72.85 US cents.