Aust share firmer at noon as CSL soars

Australian shares were firmer at noon as a stronger full-year profit guidance from vaccine supplier CSL helped buoy the broader market.

The local market also bucked a flat lead out of Wall Street based on expectations of a firming Australian dollar.

At 1200 AEDT, the benchmark S&P/ASX200 index was up 34 points, or 0.77 per cent, at 4,458.2 points, while the broader All Ordinaries index had risen 30.6 points, or 0.69 per cent, to 4,474.1 points.

On the ASX 24, the December share price index futures contract was 38 points higher at 4,470 points, with 8,567 contracts traded.

RBS Morgans senior private client adviser Bill Chatterton said CSL's lifting of its full-year profit guidance also helped the broader Australian equities market, as the company's share price hit an all-time high above $50.

"With that result, it stimulates the rest of the market," he told AAP in Brisbane.

CSL shares were up $3.54 to $50.32 at 1200 AEDT, after the company forecast profit after tax in the 2012/13 financial year growing by about 20 per cent, up from $US1.02 billion in 2011/12.

In August, CSL forecast profit growth of about 12 per cent.

Health care stocks are also outperforming the market, rising by 4.31 per cent, Iress data says.

The minerals and metals sector by comparison was 1.04 per cent stronger.

Mr Chatterton said the Australian equities market also bucked the weaker finish in the US, based on speculation the Australian dollar would strengthen.

"That may be in the short term what we're seeing," he said.

"There's some speculation that the Aussie (dollar) is going to go higher so they're jumping back into Aussie securities."

The Australian market is in firmer territory despite a flat lead from Wall Street where the Dow Jones index shed 0.33 per cent and the S&P500 slipped 0.2 per cent.

The NASDAQ technology index, however, advanced 0.33 per cent.

National turnover at 1203 AEDT was 593.379 million securities worth $1.330 billion, with 396 stocks up, 342 down and 302 unchanged.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    0.9322-0.001-0.11%
    AUDUSD=X
    0.5552-0.0003-0.05%
    AUDGBP=X
    0.6750-0.0005-0.07%
    AUDEUR=X
  • Commodities
    Commodities
    NamePriceChange% Chg