Australian Stock Market Blog (ASX)

St George faces ratings downgrade

Wed, 20 Aug 2008 22:34:49 +0000

ST GEORGE Bank has suffered a blow to its bargaining position in its agreed $18 billion merger with Westpac after the revelation in a US debt-funding document that its credit rating could be downgraded if the union does not proceed.

Virgin hits the gym

Wed, 20 Aug 2008 22:34:44 +0000

WHEN Richard Branson decided to add health clubs to his sprawling Virgin empire, he stipulated two important criteria.

Macquarie to sell airport stakes

Wed, 20 Aug 2008 22:34:39 +0000

MACQUARIE Airports will sell part interests worth $1.5 billion in Brussels and Copenhagen airports to turn around a dismal first half loss of $274.3 million.

US adds to Centro’s woes

Wed, 20 Aug 2008 22:34:34 +0000

SHOPPINNG centre group Centro has been walloped by the slumping US retail sector, with its US arm posting a quarterly loss of nearly $US300 million ($344.5 million).

Babcock & Brown bosses tipped to step down

Wed, 20 Aug 2008 22:34:19 +0000

BABCOCK & Brown hierarchs Phil Green and Jim Babcock are expected to fall on their swords today, as the financial group begins the unenviable task of digging itself out of a deep debt-lined pit.

Brambles shares tumble on growth fears

Wed, 20 Aug 2008 13:32:55 +0000

BRAMBLES, the world’s biggest pallet supplier, missed analyst estimates with a 7 per cent rise in annual net profit from continued operations, sending its shares down over 13 per cent.

Share market closes in the black

Wed, 20 Aug 2008 13:32:31 +0000

THE share market closed firmly in the black after a stronger commodity prices drove resources sector higher, helping to ovecome a negative lead from Wall Street.

QGC, Sunshine Gas in $830m merger

Wed, 20 Aug 2008 10:32:28 +0000

COAL seam gas producer Queensland Gas Company has agreed to an $830 million merger with Sunshine Gas, the proponent of a rival liquefied natural gas development.

China’s share market surges almost 6pc

Wed, 20 Aug 2008 10:32:21 +0000

CHINESE share prices surged 5.89 per cent by midday today amid speculation that the authorities will soon launch new measures to boost the ailing stock market, dealers said.

Oil prices rise on talk of output cut

Wed, 20 Aug 2008 10:32:14 +0000

WORLD oil prices rose in Asian trade today on fresh supply concerns after key producer Venezuela indicated it could ask OPEC to cut output, dealers said.