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Date Posted: 7/11/10 17:18:15
In reply to:
Monday 8 November 2010, 11:46
's message, "Qantas at 3-wk low," on 7/11/10 17:07:20
>Australian stocks flat; Qantas at 3-wk low, but miners
>up
>
>Share
>retweet
>EmailPrint..Topics:Commodities MarketStock
>MarketCompany News & Earnings.On Monday 8 November
>2010, 11:46
>(Adds comment, movers)
>
>MELBOURNE, Nov 8 (Reuters) - Australian shares were
>flat on Monday, with Qantas Airways falling to
>three-week lows on concerns over its Airbus A380
>fleet, still grounded after a mid-air engine failure
>on one of the planes last week.
>
>Gains in mining and energy stocks were not enough to
>turn the tide, despite strong prices for copper, gold
>and crude oil, with some blue chips going ex-dividend
>and weighing on the market.
>
>Oil hit a two-year peak, copper prices neared record
>highs and gold advanced. Wall Street posted its fifth
>consecutive week of gains on Friday as U.S. labour
>market data lifted confidence.
>
>Mining heavyweight Rio Tinto rose 1.2 percent to a
>26-month high of A$88.21.
>
>"The market still does feel like it's trending
>higher," said Phillip Weinberg, dealer at Karara
>Capital.
>
>"It feels like we're going to have a good run going
>into Christmas and the end of the year."
>
>The benchmark S&P/ASX 200 index .AXJO was down 3.3 at
>4,797.7 at 0040 GMT, still trading around six-month
>highs. The market gained 1.2 percent on Friday.
>
>New Zealand's benchmark NZX 50 index .NZ50 slipped 2
>points to 3,319.
>
>STOCKS ON THE MOVE:
>
>* Qantas Airways slid 4 pct to a three-week low after
>it decided to keep its Airbus A380 fleet grounded as
>it had found problems on three engines on two planes.
>[ID:nSGE6A6045]
>
>Qantas shares sank to a low of A$2.74, the weakest
>since Oct 20, and last traded down 2.8 percent at
>A$2.78.
>
>0009 GMT
>
>* BHP Billiton climbed 0.3 percent to A$45.41, its
>highest since June 2008. Woodside Petroleum was up 1
>percent at A$46.23 after touching a 6-month high of
>A$46.43.
>
>* Orica , the world's top maker of explosives for
>mines, rose 2.8 percent to A$26.41, a one-month high,
>after it reported a 4.6 percent rise in full-year
>profit, beating market forecasts. See [ID:nSDY7ME65A].
>
>0017 GMT
>
>* Westpac Banking Corp fell 3.6 percent while
>Macquarie Group fell 0.9 percent as those shares
>traded exclusive of dividend on Monday.
>
>0017 GMT
>
>* Leighton Holdings fell 0.1 percent to A$33.16.
>Australian regulators cleared the way for Spanish
>builder ACS to pursue its roughly $5 billion hostile
>takeover of Germany's Hochtief AG . Leighton is
>Hochtief's Australian-listed unit. See [ID:nSGE6A6041]
>
>0014 GMT (Reporting by Miranda Maxwell; Editing by
>Narayanan Somasundaram) ((miranda.maxwell@reuters.com;
>Reuters Messaging:
>miranda.maxwell.reuters.com@reuters.net; +61-3
>9286-1464))
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