Following a record close on the US market markets, the Australian share market opened higher, built on gains over the morning sessions and is now 0.78 per cent higher at noon.
The S&P/ASX 200 index is 44 points higher at 5696. On the futures market the SPI is 38 points higher.
To local economic news out today: The Australian Industry Group/Housing Industry Association has reported a drop in Australia’s Performance of Construction index to 54.7 in September from 55.3 in August, taking the index back to the low in April.
Company news Altura
(ASX:AJM) has successfully completed a placement to international institutional and sophisticated investors, raising $26 million. The company plans to use the funds to progress with the next stage of its lithium project. Stage one of the project is on schedule for the first lithium concentrate sales in the June quarter of 2018. The investors included a global investment fund with the company reporting the placement was oversubscribed. Shares in Altura
(ASX:AJM) are trading up 5.56% to 29c
Digital technology and entertainment company MSM Corporation International
(ASX:MSM) announced it has received mass media exposure for the Megastar app over the past 48 hours. The Megastar app was released on Google Play and the Apple Store in the US, the UK, Australia, Canada, New Zealand and South Africa along with a global media campaign. In this time the Megastar Media Program saw more than 300 pieces of unpaid media coverage generated on TV, online and print, with a global reach of more than 100 million people. Shares in MSM Corporation
(ASX:MSM) are trading 14.29% to 28c
Best and worst performersThe best performing sector is Materials, gaining 1.2 per cent to 10,478. Shares in Galaxy Resources
(ASX:GXY) have risen 4.08 per cent and trading at $3.19. Shares in Sandfire Resources
(ASX:SFR) and Orocobre
(ASX:ORE) are also stronger.
The worst performing sector is Utilities, falling 0.2 per cent to 7864. Shares in AGL Energy
(ASX:AGL) have fallen 0.87 per cent, trading at $22.80. Shares in AUSNET Services
(ASX:AST) and lower and APA Group
(ASX:APA) is marginally higher.
Gold and the dollarGold is trading at $US1,269 an ounce and one Australian dollar is buying $US07793
