Sydney, Aug 13, 2007 (ABN Newswire) - The share market moved into positive territory today. The market was propped up by traders looking for value in stocks like BHP and the National Australia Bank. Meanwhile investors also took comfort in an upgraded outlook for the domestic economy given by the Reserve Bank.
The S&P/ASX 200 Index closed up 76 points at 6012, and on the futures market the SPI 200 gained 63 points.
Turning to company news now, Sino Gold says it's agreed to buy gold explorer Golden China Resources. Under the deal, Golden China shareholders will receive one Sino Gold share for every 4.5 Golden China shares. Sino Gold chief executive says the acquisition will further consolidate Sino Gold's position as the leading foreign gold company in China. The deal is said to be worth around $80.7 million. Shares in Sino Gold closed 0.16% higher at $6.41
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