Sydney, July 19, 2007 (ABN Newswire) - The Australian share market rallied today. Firmer oil prices lifted energy firms while Macquarie Bank lifted after announcing an upbeat earnings outlook.
The ASX 200 Index closed up 55 points at 6384, and on the futures market the SPI 200 gained 54 points.
Turning to company news now, Macquarie Bank and Publishing and Broadcasting have been given a second extension in their takeover bid for Canadian Casino giant Gateway. The offer was to expire next Wednesday but will now be extended to September 26. Both Macquarie and PBL say they're confident of achieving the required approvals from local regulators. If the joint venture succeeds, New World Gaming as it's to be known will gain a network of nine casinos across Vancouver, Edmonton, and Alberto. Shares in Publishing and Broadcasting closed 0.78% higher at $19.50, while shares in Macquarie finished 0.92% higher at $91.74
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