Show your support by donating any amount. (Note: We are still technically a for-profit company, so your
contribution is not tax-deductible.)
PayPal Acct: 
Feedback: 
Donate to VoyForums (PayPal):
| Sunday, May 17, 07:38:09am | [ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, [3], 4, 5, 6, 7, 8, 9, 10 ] |
| Subject: Stock market advances Herald Sun on or around March 26th--no date | |
|
Author: Smartcard company ERG Ltd was 0.6 cents lower at 10.5 cents as it sold its 100 per cent interest in Belgian-based Proton World to micro-chip manufacturer STMicroelectronics (ST) for $110 million. |
[
Next Thread |
Previous Thread |
Next Message |
Previous Message
]
Date Posted: Thursday, April 17, 10:37:20pm In reply to: Newspapers reporting result--March 7 2003 SMH 's message, "Noteholders have tickets to ride" on Thursday, March 06, 08:38:56am http://www.heraldsun.news.com.au/common/story_page/0,5478,6190567%5E462,00.html Stock market advances Agencies MINER MIM Holdings today raced higher in a rising local market, rebounding with global bourses as prospects appeared to brighten for the US-led military action to topple Iraqi leader Saddam Hussein. "We're travelling not too badly," ABN Amro Morgans senior client adviser Tony Dennis said. "MIM is the big story of the day." Speculation that the Xstrata-MIM Holdings takeover was making headway sent Brisbane-based MIM's shares up 10 cents to $1.54 at 12.20pm (AEDT). MIM was also the top traded stock by volume, with 23.8 million shares worth $36.6 million changing hands. Mr Dennis said there was also speculation that MIM may also sell its interest in the Alumbrera copper-gold mine in Argentina after moves by BHP Billiton and Rio Tinto to sell their stakes in the mine. Other blue chips moving into positive territory included the major banks, News Corp, BHP Billiton and Rio Tinto. Mr Dennis said the local bourse was still cautious despite the lift in the US market, and all eyes were still very much on the progress of the US-led war in Iraq. At 12.15pm (AEDT), the benchmark S&P/ASX 200 index lifted 21.3 points to 2875.7 while the all ordinaries index rose 19.7 points to 2841.9. On the Sydney Futures Exchange, the March share price index contract was 21.0 points higher at 2872.0 – a 3.7 point discount to the underlying index – on a volume of 12,682 contracts. In New York, the Dow Jones industrials gained 65.55 points (0.80 per cent) to 8280.23, moving higher for the ninth time in the past 10 sessions, in a sign of continued optimism for a quick war. The Nasdaq composite advanced 21.23 points (1.55 per cent) to 1391.01 and the Standard and Poor's 500 added 10.51 points (1.22 per cent) to 874.74. In London, the FTSE 100 closed 18.7 points higher at 3762 points as reassurances that US-led forces in Iraq were progressing as planned soothed worries that troops had been bogged down in recent days. Locally, at 12.21pm (AEDT), market giant News Corp was 37 cents higher at $11.10 and its preferred scrip advanced 33 cents to $9.24. Among other media stocks, Kerry Packer's PBL lifted three cents to $8.00 and Fairfax added six cents to $3.05. Among the major banks, the NAB jumped 71 cents to $31.85, the ANZ found 36 cents at $17.69, Westpac strengthened 35 cents at $15.04 and the Commonwealth put on 32 cents at $25.53. Mr Dennis said investors were swinging slightly into defensive stocks such as the banks at the moment, especially given their current high yields. In the resources sector, BHP Billiton firmed four cents to $9.36 as it said today its subsidiary Rio Algom had agreed to sell its 25 per cent stake in the Alumbrera copper-gold mine in Argentina for $US180 million. Rio Tinto rose 22 cents to $32.65. Woodside Petroleum was 10 cents better off at $10.85 and Santos slipped seven cents to $5.59. Gold stocks were mixed at 1234 AEDT. Newmont was five cents higher at $4.20, Newcrest dipped seven cents to $5.92, Sons of Gwalia found four cents at $1.47 and Lihir shed three cents to $1.32. The price of gold in Sydney was $US329.00 per fine ounce, $US4.25 lower than yesterday's close. Among the Telcos, Telstra was six cents healthier at $4.02 as it said it had seen a significant uptake in broadband customers in the three months to March 31, 2003. Optus-owner Singapore Telecommunications was up two cents at $1.28. Retailer Coles Myer was steady at $6.10 and Woolworths was 11 cents richer at $12.04. Among other stocks, takeover target AMP Shopping Centre Trust was seven cents weaker at $1.72. Smartcard company ERG Ltd was 0.6 cents lower at 10.5 cents as it sold its 100 per cent interest in Belgian-based Proton World to micro-chip manufacturer STMicroelectronics (ST) for $110 million. National turnover at 1245 AEDT was 296.7 million shares worth $876.6 million, with 366 stocks up, 347 down and 233 unchanged. The US markets were choppy throughout the day, getting a lift from US President George W. Bush's comments about progress in Iraq and reports of a popular uprising in the southern Iraqi city of Basra. But stocks pared their gains on news that the US Senate had voted in favor of slashing Bush's program of $US726 billion ($1.22 trillion) of tax cuts in half. Dealers said the market held up well after yesterday's heavy sell-off. "Comments from President Bush about the advance of allied forces gave the market a foundation to improve," said Alfred Goldman at AG Edwards. "The Dow rose to its best level of the day after a report that Iraqis in Basra rebelled against Saddam Hussein's military." World oil prices slipped. New York's benchmark light sweet crude contract for May delivery fell 69 cents to $US27.97 a barrel, after the Basra uprising report reversed gains made earlier in the day. In London, Brent North Sea crude oil for May delivery tumbled $US1.14 to $US24.95. The British defence ministry said Iraqi forces in Basra, the second biggest city in Iraq, had fired mortars against their own people. US airline stocks staged a partial recovery from yesterday's steep declines amid talk the Bush administration will approve a rescue package to help the financially beleaguered industry, which faces more woes in a prolonged war. AAP, AP, AFP [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| AUSTRALIA'S ERG SELLS PROTON WORLD FOR US$65.62 MLN | Business in Asia Today -- March 26, 2003Press Release Source: Asia Pulse | Thursday, April 17, 10:51:40pm |