Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is up by 0.30% at lunch. Wesfarmers Ltd (ASX: WES) is up by 5.33% at lunchtime, according to Google Finance.
Indeed, the big news of the day is that Wesfarmers plans to split with Coles and focus on its other businesses which have better growth prospects.
Retail business Premier Investments Limited (ASX: PMV) is up by 6.32% so far today after revealing its half-year report which showed growth in profit. Smiggle and Peter Alexandar were highlights for the company.
Resource company Syrah Resources Ltd (ASX: SYR) has risen by 3.65% on no specific company news.
At the other end of the ASX200, Metcash Limited (ASX: MTS) is down by 4.7% so far after announcing to the market that Scott Marshall has been appointed the new chief executive of supermarkets & convenience after Steven Cain resigned to accept a position at the new Coles company. Metcash said that Mr Cain had been commuting from Melbourne to Sydney each day and the new position will be based in Melbourne.
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