Share market hits a new five month high
The share market is at its highest level in more than five months as gains among the banks and several consumer-related
stocks offset weakness in the mining sector.
The share market is higher after morning trade.
The benchmark S&P/ASX200 index was up 0.2 per cent at 5,903.7 points at 1200 AEDT, its highest level since May 2.
Mining stocks were lower due to weaker base metal prices and caution triggered by the fraud charges levelled against Rio Tinto.
Rio was down 2.3 per cent at $69.26, BHP Billiton was down 2.2 per cent at $26.58, and South32 was 1.9 per cent weaker at $3.17 after reporting a dip in production for most of its commodities in the September quarter.
Woodside Petroleum had dropped 1.8 per cent to $29.245 after the oil and gas giant posted a fall in third quarter production and lowered the top end of its full year guidance range.
Santos lifted its full year production and sales guidance for the second time this year, and its shares were up 0.95 per cent at $4.27.
ANZ was the strongest of the four major banks, up one per cent, while QBE Insurance had gained 2.4 per cent to $10.865 and Macquarie Group was one per cent higher at $93.84.
Domino's Pizza was 3.6 per cent stronger at $49.41 after buying a pizza chain in Germany, and infant formula supplier Bellamy's Australia continues to gain ground, up 4.3 per cent at $11.89.
The Australian dollar jumped on better-than-expected jobs figures for September, trading at 78.67 US cents at 1200 AEDT, up from 78.45 US cents on Wednesday.
The unemployment rate fell to 5.5 per cent as the total number of people with jobs rose by 19,800, due mainly to a rise in part-time positions.
ON THE ASX
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