Following positive leads from Wall Street, the local share market has had a bumper start to the trading week; shooting up at the open and now tracking 0.8 per cent higher at noon. Most sectors are in the black, but today it’s materials and energy that are leading the charge. We’ve also seen bargain hunters step in and pick up the big four banks, with ANZ the best of the bunch, gaining more than 1.5 per cent.
The S&P/ASX 200 index is 38 points higher at 4,804. On the futures market the SPI is up 53 points.
Company news
Monash IVF Group Limited
(ASX:MVF) says one of its ultrasound clinics in Sydney’s CBD was impacted by a significant fire yesterday. The company says the fire and smoke damage will impact ultrasound services in that location. The clinic was not operating at the time and there were no reported injuries. The cause of the fire is still being investigated. Shares in Monash IVF are trading up 0.68 per cent at $1.47.
Bradken Limited
(ASX:BKN) has announced that following an extensive search process, Mr Paul Zuckerman has been appointed as Chief Executive Officer of the company, effective from the start of March. Mr Zuckerman was most recently Chief Executive of Fletcher Building’s laminate and panels division, a global business with turnover exceeding $1 billion. Shares in Bradken are trading up 0.99 per cent at $0.51.
Best and worst performers
The best performing sector is Materials, gaining 3.8 per cent to 6,709. Shares in Amcor have risen 8.26 per cent and trading at $13.24. Shares in BHP Billiton and Western Areas are also stronger.
The worst performing sector is Telcos, falling 2.7 per cent to 1,963. Shares in Telstra have fallen 2.96 per cent, trading at $5.41. Shares in Spark NZ and Vocus are also lower.
IPOs Tesserent Limited
(ASX:TNT) started trading today. The internet security company floated with an issue price of $0.20, opened at $0.21 and is currently trading at $0.21.
Gold and the dollar
Gold is trading at $US1,232 an ounce.
The Australian dollar is buying $US0.7119.
