Australian Stock Market Report – Midday 4/24/14
By Juliette Saly, CommSec Market Analyst | April 24, 2014 2:16 PM EST
The Australian share market continues to trade at near six year highs in the early session, despite a negative lead from Wall Street. Investor sentiment has been boosted however by strong earnings reports from Facebook and Apple in the US, after the bell, which has sent both companies' share prices higher in after-hours trade.
At lunchtime in the East, the All Ordinaries Index is up 0.2 per cent, after closing yesterday at its best level since June 2008.
In company news, Resmed in the healthcare sector is higher by 3.7 per cent to $5.29 after delivering record revenue in the March quarter, up 3 per cent to US$398M. Earnings rose by six per cent.
Also in the healthcare sector, shares in Ramsay Health Care (RHC) are lower by one per cent to $45.51 after the company confirmed Chair Paul Ramsay is in hospital in a serious condition.
Bank of Queensland (BOQ) shares are trading without rights to their 32c dividend, sending the company's share price lower by 40c or 3.1 per cent to $12.70.
Material stocks remain well supported today. Shares in Atlas Iron (AGO) are firmer by 4.2 per cent to 99.5c after the company announced record iron ore shipment in the March quarter, although production was down slightly to 2.3 million tonnes.
Transurban (TCL) shares will remain in a trading halt until next Thursday, after a consortium led by the company agreed to acquire Queensland Motorways from the state government for $7.06 billion, above expectations.TCL last traded at $7.27.
So far on the market, 658 million shares have changed hands, with a value of $3.1 billion. 428 are higher, 279 are lower and 315 are unchanged.
Across the Asian region, Japan's NIKKEI Index is lower by 0.1 per cent in the morning session, while the Shanghai Composite in China is weaker by 0.2 per cent.
The Australian dollar a touch higher for US92.92c.
More from IBT Markets:
Follow us on Facebook
Follow us on Twitter
Subscribe to get this delivered to your inbox daily
Most Popular Slideshows
- From Fat To Fit: Celebrities Who Were Overweight Before They Became The Beauties That They Are
- Kendall Jenner Could Be Next Victoria's Secret Angel [PHOTOS]
- Taylor Swift Named People's Best Dressed Stars Of 2014 [PHOTOS]
- Champions League Results: Barcelona Barely Escapes With A Win, Chelsea Fails To Hold On To The Lead [PHOTOS]
Join the Conversation
- Unidentified Benefactor Offers $30M Reward For Identity Of MH 17 Bombers; MAS Criticises Kiwi Author For Suggesting MH 370 Pilot Plotted Death Of Passengers & Crew
- Australian Stock Market Report – Afternoon September 18, 2014
- Australian Stock Market Report – Midday September 18, 2014
- Australian Stock Market Report – Afternoon September 17, 2014
- Financial Intelligence Agency Suspends Sydney Remittance Firm Over Suspicions It Is Used To Finance Terrorism In Middle East
- iOS 8 Release Date Of Sept 17 Has Arrived: Update Begins At 10AM Pacific Time, Upgrade Your iDevices With iOS 7.1.2 First To Install iOS 8
- Google Nexus 6 Release Date on Q4 2014 Confirmed by T-Mobile Featuring Wi-Fi Calling
- Why Samsung Galaxy S5 Is Not The Best Smartphone To Purchase Now? If You Still Want To, Wait For A Month To Get It Cheap
- Apple iPad Air 2, iPad Mini 3 October Release Date Roundup: Freshly Leaked Protective Case Debuts Unique Vent Alongside Camera
- Canadian IS Jihadist Wants to ‘Play Soccer’ with Heads of US Decapitated Soldiers
- Warning to U.S. – ISIS Has Shot Down a Syrian Regime Fighter Jet
- Australia Actively Rallying Support For International Coalition Against ISIS