Implant maker Cochlear has posted a massive 240 percent jump in first-half net profit on a strong rise in sales. The Sydney based firm has posted a 71.4 million dollar profit after tax. That’s up from 21 million dollars over the same period last year. Last year’s result was dragged down by one-off provisions related to a legal dispute over patents. The rise in profit was boosted by 18 percent growth in revenue. 

 

OK. Let’s go to the market. Trade was strong on the US market overnight. The Dow was up almost one percent. The Nasdaq, S&P 500 were also trading high. But in London, the FTSE closed down a touch. Checking commodity prices. West Texas Crude is trading 50 US dollars a barrel. Tapis is 59 US dollars a barrel. And gold this morning is worth 1234 US dollars an ounce. The Aussie dollar is buying 78 US cents, 69 Euro cents and 51 pence sterling.