Aus shares bounce higher

The local share market saw an early selloff on open this morning but this soon turned positive and by midday it was 0.2 per cent higher.

Both US and European markets finished strongly last week but as debate about Greece’s debt continued over the weekend it seems the uncertainty will continue to cloud this week as well.

The health care sector led the way with Cochlear posting solid gains.

The S&P/ASX 200 index is 14 points up at 5,506. On the futures market the SPI is 14 points higher.

Company news

Mirrabooka Investments (ASX:MIR) has shown its net profit fell 9 per cent to $7.1 million in the 2015 financial year. The listed investment company says operating revenue was up 2.8 per cent to $9.2 million with a final dividend of 6.5c to be paid on the 7th August. Shares in Mirrabooka last traded at $2.71

Metals X Limited (ASX:MLX) is set to acquire the Georges Reward gold mine which will offer synergies to another operation, the Cannon Gold Mine. Metals X is contracted by Southern Gold to mine the Cannon operation and given its physical proximity with Georges Reward, there are a number of synergies in a joint development. Most notably is the potential to operate with one large pit which will offer access to ore that would otherwise have been obstructed by a lease boundary. Shares in Metals X are trading down 2.26 per cent at $1.30

Best and worst performers

The best performing sector is health care, gaining 1.8 per cent to 18,600. Shares in Cochlear Limited (ASX:COH) have risen 6.88 per cent and trading at $84.99. Shares in Mayne Pharma Group Limited (ASX:MYX) and Sirtex Medical Limited (ASX:SRX) are also stronger.

The worst performing sector is energy, falling 0.6 per cent to 10,653. Shares in AWE Limited (ASX:AWE) have fallen 3.03 per cent, trading at $1.28. Shares in Liquefied Natural Gas Limited (ASX:LNG) and Santos Limited (ASX:STO) are also lower.

Gold and the dollar

Gold is trading at $US1,162 an ounce.
The Australian dollar is buying $US0.7430