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STOCKS - AUSTRALIAN SHARES HIGHER AT NOON - NOV 1, 2006.

AsiaPulse News

| November 01, 2006 | COPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

MELBOURNE, Nov 1 Asia Pulse - Banks and mining companies were shoring up the Australian share market at noon, spurred on by the banks' annual results season and a rebound in commodity prices.

St George (ASX:SGB) reported a $A1 ($US.77) billon plus result this morning, slightly above market consensus, helping it lift nine cents to $A32.50, while Westpac (ASX:WBC) reports tomorrow and National Australia Bank (ASX:NAB) on Friday.

At 1205 AEDT the benchmark S&P/ASX200 index was 18.2 points higher at 5402.6, while the all ordinaries gained 17.1 points to 5370.

On the Sydney Futures Exchange, the December share price index contract also jumped 38 points at 5399, on a volume of 10,061 contracts.

Shaw Stockbroking head dealer Jamie Spiteri said St George's result followed the favourable full year report from ANZ (ASX:ANZ) last week.

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Source: HighBeam Research, STOCKS - AUSTRALIAN SHARES HIGHER AT NOON - NOV 1, 2006.

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