Australian shares have opened modestly higher, all-but single-handedly buoyed by gains from oil and gas producers. The S&P/ASX 200 is 7.5 points or 0.1 per cent higher at 7785.6 at the opening bell. Early in trade, energy stocks are the best performing, up 1 per cent, following gains in oil and LNG overnight. Woodside and Santos are both up around 1 per cent. In a quiet session, none of the other 10 ASX sectors have moved more than 0.5 per cent in either direction.
Stocks in focus Shares in Helia Group are the worst performing, down 8.2 per cent to $3.88 after Commonwealth Bank of Australia flagged potential changes to the companies’ existing lenders mortgage insurance contract. The existing contract represents more than half of Helia’s gross written premium in 2023. Downer EDI has been awarded a new contract by NBN, valued at more than $100 million. Shares added 0.6 per cent to $4.71.