THE share market was 0.6 per cent stronger just after noon, tracking gains on Wall Street after US investors bought financials in anticipation of yet another rate cut by the Federal Reserve.
Archive for January, 2008 Page 2 of 21
LIHIR Gold has lifted its annual gold production by 7.7 per cent to a new record and has forecast a further increase in the current year.
TRANS-TASMAN beer and wine maker Lion Nathan has secured $450 million in debt funding to refinance existing facilities.
AMERICA’S largest mortgage lender, Countrywide Financial Corp, posted a $US422 million ($475.52 million) fourth-quarter loss overnight, hurt by mounting defaults in a sinking housing market.
AUSTRALIA’S biggest retailer Woolworths has lifted its first half sales by 8.6 per cent.
EXPLOSIVES, chemicals and paint maker Orica has agreed to acquire 100 per cent of Strata Control Systems, which provides underground support systems to the mining and tunnelling markets in Australia.
AMERICAN Express’s fourth-quarter profit dropped 10 per cent, with revenue missing analyst forecasts as customers defaulted more often, fanning worries the credit card and travel services company might struggle as the US economy weakens.
SHARES in Allco Finance Group continued to recover today after the finance house said major shareholder, Allco Principals Investments (API), had secured standstill agreements with its two remaining margin lenders.
FINANCIAL markets may be sweating on a US recession, but prices for Australia’s bulk mineral exports, coal and iron ore, are soaring as a spate of supply disruptions reveals just how tight markets are.
THE price of gold shot to a record $US927.77 in London overnight as investors looked for safe havens from financial market turbulence and in response to stoppages at mines in South Africa.
