The market is up 29. The SFE Futures were up 39 this morning.

Wall Street closed up 122 overnight. The Dow was up 152 at best and down 4 at worst. It was the biggest rise in two months on strong volume. US markets are now up 78% from the March low last year. Oil up $2.15 to $85.44, Gold fell $3 to $1169 and the Aussie dollar improved to 92.98c versus 92.42c.

In the news today…

  • Macquarie Group (MQG) up 4.61% to 5058c after releasing a slightly better-than-expected full year net profit of $1.05bn, up 21% from last year. Analysts expected on average $1.02bn.
  • Woolworths (WOW) — 3Q Sales Numbers — The numbers were mainly in line with expectations but they warned that FY sales are likely to grow by 3-6%, down from previous forecasts. The stock initially fell 2% but has since recovered to be up 3c to 2694c. Wesfarmers down 2.2%.
  • Woodside Petroleum (WPL) has reiterated 2010 production guidance with oil, gas and condensate output still expected to be between 70m-75m barrels of oil equivalent. WPL up 40c to 4575c.
  • Energy Resources Australia (ERA) said mine production will be in line with previous years but will be “significantly weighted to the 2nd half of the year”. ERA up 48c to 1587c.
  • APN News & Media (APN) — AGM — Says the business is performing ahead of levels seen this time last year on the back of improve advertising conditions. APN up 1c to 245c.
  • Most brokers have maintained their Buy recommendations on ANZ Bank (ANZ) on the back of yesterday’s results. The stock fell over 2% yesterday but is up 5c today to 2425c.
  • ResMed (RMD) up 5.4% to 705c after their 3Q profit result beat analysts’ expectations. Earnings per share came in at 63c a share, the market was expecting 57c.
  • According to Macarthur Coal’s (MCC) chairman, Keith de Lacy, MCC is looking to renew talks with Noble Group in order to acquire Gloucester Coal (GCL).
  • Caltex Australia (CTX) has said they won’t now proceed with their acquisition of 302 Mobil gas stations despite discussions to overcome the ACCC rejection of the CTX proposal to buy them. CTX up 10c to 1168c.
  • Seven Network’s (SEV) shares are suspended with the new company, Seven Group Holdings (SVW), due to begin trading from Friday May 14.
  • The Arrow Energy (AOE) JV with Royal Dutch Shell has received FIRB approval. AOE up 3c to 518c.
  • Stocks hitting fresh 52 week highs include: Eldorado Gold (EAU). Coffey International (COF) on the other hand has hit a fresh yearly low.

The Dow Future were down 27 at midday.

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