Sydney, Aug 20, 2007 (ABN Newswire) - The share market came back with some force today. Investors were spurred on by a Federal Reserve decision late last week to cut the discount rate, easing concerns of a global credit squeeze.

The S&P/ASX 200 Index closed up 262 points to 5933, and on the futures market the SPI 200 soared 314 points.

Turning to company news now, a decision announced by the Federal Treasurer today means CanWest can now convert economic stake in TEN Network Holdings into shares. The move was brought on by the Foreign Investment Review Board and removes the ownership structure that prevented the Canadian owners from achieving foreign ownership of the broadcaster. Treasurer Peter Costello says he has no objection to CanWest Global Communications taking an approximately 56 per cent stake in Ten Network Holdings. Ten Network chief Nick Falloon has welcomed the decision. The network says the exchange arrangement will be completed by the end of the month. Shares in Ten Network Holdings closed 3.98% higher at $2.61

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

Video Link

http://abnnewswire.net/fnnlnk/M4RBLOPP


Audio Link

http://abnnewswire.net/lnk/B3HOR6JX

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>>> ONESTEEL LIMITED
>>> STW COMMUNICATIONS GROUP LIMITED
>>> TEN NETWORK HOLDINGS LIMITED
>>> AGL ENERGY LIMITED
>>> HFA HOLDINGS LIMITED
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