Rebecca Gredley
(Australian Associated Press)
The local share market is higher with broad-based gains led by a strong information technology sector.
At noon AEDT on Wednesday, the benchmark S&P/ASX200 index was up 36.8 points, or 0.64 per cent, at 5,774.9 with all sectors trading higher.
Info-technology stocks were performing the best, with Wisetech Global, Computershare and Xero all trading higher, led by Xero shares which were up by 2.97 per cent to $30.84.
Gaming stocks regained strength, with Crown Resorts up 1.48 per cent at $11.67, while Aristocrat Leisure gained 1.63 per cent to $22.44.
A lift in copper and oil prices helped boost major miners BHP Billiton and Rio Tinto, despite a further drop off in iron ore prices overnight nearing its four-months lows.
BHP Biliton shares were up 0.19 per cent at $26.55 and Rio Tinto was up 0.22 per cent to $69.32.
The four major banks were trading higher as Westpac and ANZ’s top executives face hours of questioning from the House of Representatives economic committee on Wednesday.
Share in independent ATM operator Stargroup rose 10.53 per cent to 2.1 cents after it said last month’s announcement by major banks abolishing transaction fees from their ATM’s has had little impact on its own network or projected revenues.
But Energy Resources of Australia shares fell 0.85 per cent to 58 cents after it said it has produced 638 tonnes of uranium oxide in the three months to September 30, a 42 per cent jump on the June quarter, when output was impacted by scheduled mill maintenance.
The Australian dollar was traded at 78 US cents at noon, driven by strong consumer confidence figures paired and a poorer performing US dollar due to debate within the US Republican party.
At 1200 AEDT the Australian dollar was trading at 78.02 US cents, up slightly from 77.86 US cents on Tuesday.
ON THE ASX:
* The benchmark S&P/ASX200 was up 36.8 points, or 0.64 per cent, at 5,774.9 points at 1200 AEDT.
* The broader All Ordinaries index was up 36.3 points, or 0.63 per cent, at 5,843.4 points.
* The September SPI200 futures contract was up 38 points, or 0.66 per cent, at 5,756 points.
* National turnover was 1.52 billion securities traded worth $1.53 billion.
CURRENCY SNAPSHOT AT 1200 AEDT:
One Australian dollar buys:
* 78.00 US cents, from 77.86 US cents on Tuesday
* 87.59 Japanese yen, from 87.73 yen
* 65.98 euro cents, from 66.15 euro cents
* 59.01 British pence, from 59.13 pence
* 109.94 NZ cents, from 110.17 NZ cents
GOLD:
The spot price of gold in Sydney at 1200 AEDT was $US1,290.22 per fine ounce, up from $US1,286.62 per fine ounce on Tuesday.
BOND SNAPSHOT AT 1200 AEDT:
* CGS 4.50 per cent April 2020, 2.0143pct, from 2.01pct on Tuesday
* CGS 4.75pct April 2027, 2.7813pct, from 2.779pct
Sydney Futures Exchange prices:
* December 2017 10-year bond futures contract was at 97.135 (implying a yield of 2.865pct) from 97.14 (2.86pct) on Tuesday
* December 2017 3-year bond futures contract was at 97.83 (2.17pct) from 97.84 (2.16pct),.
(*Bond market closes taken at 1630 AEDT previous local session; currency closes taken from 1700 AEDT previous local session)
