ASX up 0.06% near noon: Best performing sector is Industrials

By Peter Milios | More Articles by Peter Milios

Australian shares continued their upward trend, gaining 0.3% at the opening following the Reserve Bank's decision to maintain interest rates and emphasise data dependency for future adjustments. Additionally, Perpetual announced the sale of its trustee and advice business to KKR for $2.175 billion, with plans to spin off its $227 billion asset management business pending shareholder approval by February next year.

At 11:30am, the S&P/ASX 200 is 0.06 per cent higher at 7,797.8.

The SPI futures are pointing to a rise of 6 points.

Best and worst performers

The best-performing sector is Industrials, up 0.85 per cent. The worst-performing sector is Financials, down 0.41 per cent.

The best-performing large cap is Pro Medicus (ASX:PME), trading 1.86 per cent higher at $115.20. It is followed by shares in IGO (ASX:IGO) and Fisher & Paykel Healthcare Corporation (ASX:FPH).

The worst-performing large cap is Mercury NZ (ASX:MCY), trading 3.18 per cent lower at $5.79. It is followed by shares in Paladin Energy (ASX:PDN) and National Australia Bank (ASX:NAB).

Commodities and the dollar

Gold is trading at US$2320.80 an ounce.

Iron ore is 1.2 per cent lower at US$118.75 a tonne.

Iron ore futures are pointing to a 1.2 per cent fall.

One Australian dollar is buying 65.74 US cents.

About Peter Milios

Peter Milios is a recent graduate from the University of Technology - majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research.

View more articles by Peter Milios →