PERTH: A strong performance from Australian health care stocks has buoyed the Australian sharemarket at noon, offsetting weakness in the major resources stocks.
At 12.05pm (AEST) the benchmark S&P/ASX200 was up 16.6 points, or 0.29 per cent, to 5686.1, while the broader All Ordinaries added 16.2 points, or 0.29 per cent, to 5669.3.
Australian heathcare stocks were buoying the market on Friday after a string of positive announcements from medical giants ResMed, CSL and Vision Eye Institute.
Sleep disorder device supplier ResMed said it was on track to meet its 2020 growth goals, after buying Curative Medical, a privately-held Chinese provider of ventilation and breathing devices to treat sleep disorders.
Meanwhile, market darling CSL won the necessary approvals for its $US275 million acquisition of Novartis’ influenza vaccine business, with the purchase to become a new subsidiary called Seqirus. CSL shot up 2.03 per cent to $98.31.
