Sydney, July 9, 2007 (ABN Newswire) - The Australian share market started the week on a positive note. Energy firms were boosted by a rise in the price of oil, while U.S. linked stocks gained following strong U.S. jobs data.
The ASX 200 Index close up 50 points at 6401, and on the futures market the SPI 200 climbed 43 points.
Turning to company news now, The chief executive's of Peptech and EvoGenix have admitted there proposed joint venture has failed to attract the interest of small investors. Peptech chief executive John Chiplin said at the time that the deal would create a major world player in antibody production. Under the scheme, Peptech is set to acquire 100 per cent of Evogenix in a cash and scrip deal worth $1.12 a share valuing the company at $156 million. Both executives say they now have the hard task of convincing retail investors of the deal's merits before EvoGenix shareholders vote on the proposal on the 9th of August. Shares in EvoGenix were 2.3% lower at 85 cents, while shares in Peptech closed 1.07% higher at $1.41-and-a-half cents
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