MARKET NEWS

Shares continue to rise
02/07/2015 12:47 PM

The share market is on track for a third consecutive day of gains.

The main indices were more than one per cent higher in early afternoon trade, as markets continue to stabilise after Monday's drastic reaction to Greece's failure to strike a debt deal with its creditors.

Quay Equities head of trading Tristan K'Nell said there was a risk the recent good run for shares - the market also gained one per cent on Wednesday - could lose momentum in afternoon trade.

"After a couple of good days it would not surprise me to see people take some profits ahead of the US non-farm payroll jobs numbers tonight and the uncertainty about what's going to happen in Greece," he told AAP.

"People don't want to be too `risk on' at the moment."

The non-farm payroll data from the US is a key measure of its employment market.

Making news locally, shares in Bonds clothing owner Pacific Brands have soared after the company lifted its full year earnings guidance.

Its shares were up 9.75 cents, or 30 per cent, at 42.25 cents.

In the resources sector, BHP Billiton had gained 16 cents to $26.81, Fortescue Metals was up 1.5 cents at $1.845 while Rio Tinto had slipped 23 cents to $52.78.

The big four banks were higher, with Commonwealth Bank up 72 cents at $86.74, Westpac up 43 cents at $32.81, National Australia Bank up 31.5 cents at $33.785 and ANZ 22.5 cents higher at $32.725.

KEY FACTS

* On Thursday at 1243 AEST, the benchmark S&P/ASX200 index was up 70.4 points, or 1.28 per cent, at 5,586.1 points.

* The broader All Ordinaries index was up 68.1 points, or 1.24 per cent, at 5,574.1 points.

* The September share price index futures contract was up 57 points at 5,535 points, with 20,915 contracts traded.

* National turnover was 886 million securities worth $2.3 billion.

Aust shares open higher
02/07/2015 10:42 AM

The Australian share market is slightly higher following gains on overseas markets as optimism grows that the euro zone and Greece will strike a debt deal.

Global markets moved higher overnight, especially in Europe where Germany's DAX 30 jumped two per cent after Greece proposed a reform deal that was closer to that put forward by its creditors.

The local market was around half a per cent higher in early trade, despite falls in iron ore and oil weighing on resources stocks.

IG market strategist Stan Shamu said the continuing slide in Chinese stocks was also weighing on the market, but investors were looking to take advantage of recent weakness, particularly in high yielding stocks.

"I think we're doing ok, all things considered," he said.

"The yield plays are looking very good, I think after the financial year ended people have started looking at buying the underperformers so you've got a bit of life coming into the big banks and Telstra."

In the resources sector, BHP Billiton lost eight cents to $26.57, while Rio Tinto slipped 12 cents to $52.89 while Fortescue Metals lifted one cent to $1.84.

The big four banks were higher, with the Commonwealth Bank up 56 cents to $86.58, while Westpac picked up 20 cents to $32.58, National Australia Bank climbed 22 cents to $33.69 and ANZ gained 26 cents to $32.76.

Meanwhile, shares in Bonds underwear owner Pacific Brands jumped nine cents, or 27 per cent, to 41.5 cents after it lifted its full year earnings guidance.

KEY FACTS

* On Thursday at 1030 AEST, the benchmark S&P/ASX200 index was up 40.6 points, or 0.74 per cent, at 5,556.3 points.

* The broader All Ordinaries index was up 39.1 points, or 0.71 per cent, at 5,545.1 points.

* The September share price index futures contract was up 27 points at 5,505 points, with 12,336 contracts traded.

* National turnover was 314 million securities worth $666 million.

Aust shares open Thursday
02/07/2015 10:11 AM

The Australian share market has opened higher.

At 1010 AEST on Thursday, the benchmark S&P/ASX200 index was up 7.6 points, or 0.14 per cent, at 5,523.3, while the broader All Ordinaries index was up 8.0 points, or 0.14 per cent, at 5,514.0.

On the ASX 24, the September share price index futures contract was down six points at 5,472, with 9,137 contracts traded.