The Aussie market is faring well so far today, despite the soft leads provided by Wall Street overnight.
The XJO is presently 30 points (+0.8%) in the green, holding around 4137.
Most sectors are trading to the upside, with financials, IT, and energy stocks the best performers whilst industrials and materials are the laggards.
In company news, Fortescue is down 1.5% despite announcing it expects to maintain its annual iron ore production rate of about 60 million tons in the September quarter.
The group also said that it increased its infrastructure spending budget to US$9 billion from US $8.4 billion, largely to a jump in costs at its Solomon Hub project in Western Australia.
In economic news, the latest RBA minutes showed that the central bank kept borrowing costs unchanged this month as domestic job growth and previous interest-rate reductions helped the local economy weather global disruptions.
“With recent signs that the domestic economy had a little more momentum than had earlier been indicated, members saw no need for any further adjustment to the cash rate at this meeting.”
Around the region, Asian markets are mainly stronger; the Hang Seng (+1.5%) and Nikkei (+0.6%) are the standouts.