The Australian share market was higher at noon, led by the resources and energy sectors.All Ordinaries had gained 29 points, or 0.66 per cent, to 4414.
Some analysts are saying "Overall, (it's been) a fairly solid day, particularly the resources sector faring well, recovering from yesterday's weakness.The results from Woodside are helping to pull things up, as well as recovery in Rio."
Also in the news pushing resources and energy, Finance minister Lindsay Tanner expects the federal government will give its final tick of approval to the massive $50 billion Gorgon LNG project, after PetroChina agreed to buy $50 billion of liquefied natural gas from the vast proposed development in Western Australia.
Boral was up 3.9%. Qantas was up 5.4% after reporting pretax profit of A$181 million, near the top end of its A$100 million-A$200 million guidance.
Blood products and vaccines developer, CSL, has reported a 63.3 per cent jump in annual profit and forecast further earnings growth this year, as it starts to meet orders for swine flu vaccine.
Engineering and project management group, Ausenco, says it is well positioned for the future despite challenging markets, after posting a 56.5 per cent fall in first half profit.
Ausenco lost 27 cents, or 6.1 per cent, at $4.17.
Origin Energy Ltd (ASX:ORG) has reported a massive jump in net profit for the 2009 fiscal year to $6.9 billion, up from $517 million the year before. The result includes a gain of $6.7 billion from the investment of ConocoPhillips in the two companies Australia Pacific LNG joint venture. Underlying net profit rose 20 per cent to $530 million for the 12 months to June 30, compared $443 million a year ago.
The best performing sector at midday is the Energy index up 314 points to 15,380. Shares in Eastern Star Gas up 6.19 per cent at $1.115. Shares in WorleyParsons and Centennial Coal are also stronger at noon.
One of the worst performing sectors at midday is the Health Care index, down 5 points at 8,592. Shares in IDT Australia down 9.69 per cent to $1.445. Shares in Cochlear and the ResMed are also lower at noon.
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