News: Midday: ASX higher on dovish US Fed

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    Following strongly positive leads from Wall Street after dovish comments from the Federal Reserve indicating it could be a while before it raises interest rates, the Australian share market opened sharply higher and is 1.14 per cent up at noon. News that National Australia Bank has issued a write down and lowered profit guidance has failed to dampen investor enthusiasm. 
     
    The S&P/ASX 200 index is 59 points up at 5,300. On the futures market the SPI is 60 points higher. 
     
    Looking at economic news: The ABS has reported the jobless rate remains flat at 6.1 per cent after the the economy lost 29,700 jobs. It’s below analyst expectations of 15,500 new jobs. However the ABS was forced to revise its August figures down from growth of 121,000 jobs to just 32,100 jobs after admitting a problem with the data. 
     
    Company news
     
    Sirtex Medical Limited (ASX:SRX) says it is one step closer to making its treatment for inoperable liver cancer commercially available to patients. The study of its SIR-Spheres microspheres therapy has been tested on 500 patients in 100 hospitals globally and is now complete. If the treatment proves to result in remission over the next six months Sirtex will be able to open its study results and analysis to peer review and if confirmed positive the treatment could be elevated to first line therapy. The medical research company says even if the treatment does not live up to expectations the therapy provides a strong basis for further research into its effect on liver cancer. Other studies comparing the effectiveness of its treatment with chemotherapy and other drugs currently on the market are on track or ahead of schedule and Sirtex hopes to announce more results in March 2015.  Shares in Sirtex Medical are trading 0.55 per cent up at $22.00. 
     
    Xero Limited (ASX:XRO) has appointed former Commonwealth Bank chief marketing officer Andy Lark as global CMO. The New Zealand based and dual-listed cloud based, accounting software company is planning a big push into the US and CEO Rod Drury says Lark’s 25 years marketing experience will drive momentum, brand and product through the next phase of growth. Mr Lark has previously held positions with Dell, Sun Microsystems and Nortel and has a long standing consulting relationship with Xero. Mr Lark will take up his new position next month. Shares in Xero are trading 0.16 per cent lower at $18.72. 
     
    Best and worst performers

    All major sectors are higher. The best performing sector is real estate investment trusts, gaining 2 per cent to 1,105. Shares in Goodman Group have risen 4.07 per cent and are trading at $5.49. Shares in Charter Hall and Mirvac are also stronger. 
     
    The sector with the least gains is health, adding 0.3 per cent to 15,179. Shares in Sigma Pharmaceuticals have fallen 0.64 per cent, trading at $0.78. Shares in CSL and Virtus Health are also lower. 
     
    Gold and the dollar

    Gold is trading at $US1,222 an ounce.
    The Australian dollar is buying 88.27 US cents. 
 
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