Sydney, July 16, 2007 (ABN Newswire) - The Australian share market fell into the red today. While there were gains in U.S. focused stocks following some improved U.S. consumer sentiment data, RIO continued to weigh on the market. Many analysts believing the company paid full price for takeover target Alcan.

The ASX 200 Index close down 9 points at 6381, and on the futures market the SPI 200 lost 10 points.

Turning to company news now, Virgin Blue says it's purchased a $61 million Brisbane site for its new national headquarters. Virgin Blue chief Brett Godfrey since establishing at nearby Fortitude Valley in 1999, the company had outgrown its premises. The site at Bowen Hills is currently under construction. The building is due for completion in March next year. Shares in Virgin Blue were 0.84% lower at $2.37

The full report is available at the following video and audio links.

Video Link

http://www.finnewsnetwork.com/asxgen/get_asx.aspx?site=abnnewswire&intro=MBL_Marketwrap.wmv&media=close(Broadband).wmv&content_type=BUSINESS_REPORT&date=20070716


Audio Link

http://www.finnewsnetwork.com/asxgen/get_asx.aspx?site=abnnewswire&media=close.wma&content_type=BUSINESS_REPORT&date=20070716