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Markets

Market report: Tuesday, April 12

Markets

The Australian share market is building on early gains to be around 0.5 per cent higher at noon, as the big banks recover from recent falls and the major miners lift.

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At 1200 AEST, Commonwealth Bank was up 63 cents at $71.33, National Australia Bank had added 50 cents to $25.43, Westpac had gained 39 cents to $28.81, and ANZ had risen 44 cents to $22.69.

But shares in Australian companies exporting vitamins, long-life milk and other consumer goods have fallen sharply in early trading over fears of the impact of a changed tax policy in China.

KEY FACTS:

* At 1201 AEST, the benchmark S&P/ASX200 index was up 27.9 points, or 0.57 per cent, at 4,959.4 points.

* The broader All Ordinaries index was up 26.7 points, or 0.53 per cent, at 5,039.9 points.

* The June share price index futures contract was up 37 points at 4,939 points, with 14,720 contracts traded.

* National turnover was 903.6 million securities traded, worth $1.27 billion.

AAP

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