The Australian stockmarket is higher today.
THE Australian stock has opened marginally higher following a flat performance on Wall Street late last week.
US equities ended Friday little changed after a drop in resource stocks due to further falls in crude oil prices neutralised a rally in the technology and retail sectors.
And, with little global and domestic economic news directing investors, it was no surprise the local share market had a fairly flat open, CMC Markets chief market analyst Ric Spooner said.
“The US market was flat on Friday and there hasn’t been a lot of change in terms of macro news to influence investors since then and this is reflected in our relatively flat open,” he said.
“One exception is the energy sector which is weaker this morning due to the softer oil price.”
Among the energy players, Woodside Petroleum was down 70c, or 2.5 per cent, at at the open, at $27.40.
Santos had lost 8c, or 2.4 per cent, to $3.31 and Oil Search had dropped 10c, or 1.4 per cent, to $7.03.
The big four banks were mixed with ANZ down 11c at $23.29, and Westpac losing 9.5c to $29.685, but the Commonwealth Bank was up 24c at $73.67 and National Australia Bank had lifted 6c to $25.68.
Among the companies to report today was Southern Cross Austereo, which has lifted first-half profit 25.1 per cent. Its shares were up 1c at $1.095 in early trade.
Shares in Brambles climbed 77c to $11.82 after it raised its full-year earnings forecast, and Bluescope Steel lifted 15c to $5.63 after it reported a first-half net profit of $200.1 million, more than double last year’s result.
Shares in private health insurer Nib, which has reported a 5 per cent rise in first-half profit, were up 22c at $3.50.
The benchmark ASX 200 index was up 5 points, or 0.1 per cent, at 4,957.8 points. The broader All Ordinaries index was up 5.3 points, also 0.1 per cent, at 5013.6 points.
AAP
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