The local bourse was buoyed by a raft of strong earnings results with Telstra, Fairfax, Goodman and Crown Resorts all reporting positive profit results.
The S&P/ASX 200 index is 35 points up at 5,550. On the futures market the SPI is 34 points higher.
Company news
Singapore Telecommunications Limited’s (ASX:SGT) SINGTEL’s Australian arm Optus has reported a 1.8 per cent dip in first quarter net profit.
Shares in QRxPharma Limited (ASX:QRX) have plunged more than 50 per cent on the news they will halt development of Moxduo.
Best and worst performers
The best performing sector is health care, gaining 2.3 per cent to 14,790. Shares in Mesoblast limited (ASX:MSB) have risen 4.46 per cent and trading at $4.22. Shares in CSL Limited (ASX:CSL) and Sirtex Medical Limited (ASX:SRX) are also stronger.
The worst performing sector is materials, falling 0.1 per cent to 10,245. Shares in Mount Gibson Iron Limited (ASX:MGX) have fallen 2.11 per cent, trading at $0.70. Shares in OZ Minerals Limited (ASX:OZL) and Western Areas Limited (ASX:WSA) are also lower.
