The ASX has made gains this morning with the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) up 0.68% at midday. The positive start to the day follows a choppy session on Wall Street overnight where US stocks bounced around but remained in positive territory and ended higher.
Global markets have regained some composure after some positive economic data came out of the US overnight. US retail sales data showed a 1.1% improvement in March, representing their biggest gain in one-and-a-half years. The prior reading for retail sales in February was also raised to growth of 0.7% from 0.3%.
As it's the second Tuesday in the month, investors are scrutinising today's release of the Reserve Bank of Australia's minutes from last week's board meeting for clues as to future moves in the cash rate.
Traders appear positive on the outlook for the Australian dollar with analysts suggesting the Aussie will test US95 cents.
Here are the top five best performing stocks in the index at midday today:
- Magellan Financial Group Ltd (ASX: MFG) has rallied 5.6% to $12.02
- OZ Minerals Limited (ASX: OZL) has jumped 4.3% to $3.91
- PanAust Limited (ASX: PNA) has added 3.8% to $1.64
- Independence Group NL (ASX: IGO) has climbed 3.5% to $4.12
- Paladin Energy Ltd (ASX: PDN) has gained 3.4% to 46 cents
These are the five worst performing stocks at midday today:
- Beadell Resources Ltd (ASX: BDR) has sunk 5.2% to 64 cents
- Aquila Resources Limited (ASX: AQA) has fallen 4% to $2.64
- Regis Resources Limited (ASX: RRL) has declined 3.3% to $2.45
- Arrium Ltd (ASX: ARI) has lost 2.1% to $1.29
- Medusa Mining Limited (ASX: MML) has slipped 1.8% to $1.87 cents
