S&P/ASX 200 (INDEXASX:XJO) opened at 6,199 and shot up 30 points in the first 10 minutes of trade, it is up 0.66% to 6239.6 at 1.25pm.
Key US markets remained subdued with the S&P 500 Index (INDEXSP:.INX) flat and the Nasdaq Composite (INDEXNASDAQ:.IXIC) slightly down last night.
While it is a quiet Friday, some the keys pieces of news around the market come from CTX, PDL, PPT, GRR and the BVS-GBT takeover.
[VIDEO] Mid-Session: The Australian sharemarket is rebounding from yesterday’s losses and is firmly in positive territory on Friday. The ASX 200 is lifting around 38 points or 0.6% to 6238 at lunch. https://t.co/zFgWBsKBff #ausbiz— CommSec (@CommSec) April 12, 2019
Caltex shares run on production and margin update
Shares in the fuel supplier ripped 2% higher on the news showing investors were content with their first take on the numbers.
Caltex also took the opportunity to reaffirm its 2019 production guidance.
Pendal and Perpetual update on their funds under management
Fund managers Pendal Group Ltd (ASX:PDL) and Perpetual Limited (ASX:PPT) both provided updates regarding their funds under management (FUM) today.
Pendal, whos shares are flat, revealed an increase of $8.1 billion for the March quarter, which comprised of +$0.2 billion of net flows.
Perpetual released its March quarter FUM update during market hours, revealing a $0.3 billion decrease, largely due to losing a $1.3 billion mandate.
Shares in Perpetual sold off in the 10 minutes proceeding the announcement but buyers stepped in and the stock is now up 4.9% on the day.
Bravura makes a bid for GBST
Shares in GBST are trading up 22% to $2.41.
Grange Resources updates with some good and bad news, shares down
The sell-off is in reaction to a production update from its Savage River open pit iron ore mine that cited lower production rates in the first half of 2019.