daytrade diaries... september 1 part 2, page-8

The Australian share market remained in positive territory at noon after gains in the financial sector and among consumer staple stocks.

All Ordinaries had risen 5.3 points, or 0.12 per cent, to 4489.4.

Avoca Resources Ltd (AVO) has reported a $16.3 million loss for the 2009 financial year, a much wider loss than the $1.3 million loss recorded in fiscal 2008.The result was impacted by a $42.2 million depreciation charge associated with the company transitioning from explorer to producer.

Qantas Airways Ltd (QAN) says total group passenger numbers increased 4.6 per cent in July compared to the same period last year.The Qantas group consists of; Qantas Domestic, QantasLink, Jetstar Domestic, Qantas International and Jetstar International.Total domestic yield excluding foreign exchange for the financial year to July 2009 was 12.3 per cent lower compared to the same period last year, with total international yield decreasing 21.4 per cent.

Engineering company GRD Ltd (GRD) has today announced a $5.2 million profit for the six months to June 30 compared to a loss in the first half of 2008. The company is currently the target of a $106 million takeover by London based AMEC.

Australian building approvals rose 7.7 per cent to 12,048 units in July, seasonally adjusted, from an upwardly revised 11,190 units in June, the Australian Bureau of Statistics (ABS) said on Tuesday. In the year to July, building approvals fell 3.9 per cent.

The best performing sector at midday is the Telco Services index up 14 points to 1,147. Shares in IINet up 2.38 per cent at $2.15. Shares in Telstra and Pipe Networks are also stronger at noon.

The worst performing sector at midday is the Real Estate Investment Trust index, down 15 points at 861. Shares in Mirvac Group down 2.03 per cent to $1.45. Shares in Stockland and Westfield Group are also lower.

Gold is currently trading at $952.70 US an ounce and the Aussie dollar is trading at 84.41 US cents.

http://www.marketwatch.com/
http://www.thebull.com.au/
http://www.news.com.au/business/

Did you know?

On Consensus
- Disregard the majority opinion. It is probably wrong.
- Never follow speculative fads. Often, the best time to buy something is when nobody else wants it.