Sydney, Sept 20, 2007 (ABN Newswire) -
Australian shares could move even higher today, with financial firms expected to rise and a jump in base metal prices providing support for the overall market.
On Wednesday the S&P/ASX200 rose 2.6 per cent or 164 points to 6,356; it's highest close since hitting an all-time high back in July. On the future's market the SPI200 is up 21.
Turning to currencies, the Australian dollar extended its rally this morning rising three cents in just two sessions. At 8:35 AM the Aussie is buying 85.54 US cents, on the crosses the dollar is buying 99.22 yen, 61.27 Euro cents, and 42.78 British pence.
The full report is available at the following video and audio links.
Video Link
http://abnnewswire.net/fnnlnk/00I252CYAudio Link
http://abnnewswire.net/lnk/HCW6O4D6Making news headlines this morning is Symbion Health. Its shares were up 1.22% to $4.15 on the ASX Tuesday. Symbion is reportedly still in talks with its suitor, Healthscope, after its $2.9 billion bid failed to win enough shareholder support last week. Rival Primary Health Care used its 20 per cent stake in Symbion to kill the offer. But a source close to the deal had said the Symbion and Healthscope are still searching for an alternative deal. Primary said it would welcome any new proposals. Symbion Health saw a return to profitability in 2007.
Dyno Nobel shares last traded down 0.39% to $2.55. The explosives maker has been cleared by the South African Competition Tribunal to acquire a 50 per cent stake in Sasol Dyno Nobel, according to the Australian Associated Press. Dyno Nobel's chief executive said the stake in SDN would give it direct access to the attractive South African market, and would lift earnings per share in the first 12 months. The deal is worth close to $40 million. Dyno Nobel had a banner year in 2005, but saw earnings drop of dramatically in 2006.
The S&P/ASX top 200 company trading ex-dividend today is Challenger Financial Services Group with a 7.5 cent fully franked dividend to be paid on the 19th of October.
To international markets, US markets posted more subdued gains in New York on Wednesday; The Dow Jones Industrials was up 76, the S&P500 gained 9 and the Nasdaq composite advanced 15 points.
European shares rallied once again; London's FTSE was up 177 points; Paris increased 181, and Frankfurt jumped 176.
Asian stocks were mixed; Hong Kong's Hang Sang surged 978 points; Tokyo's Nikkei rallied 580, but China's SSE Composite fell 30.
Back to the US, gold added $5.80 to $729.50 US an ounce for the spot contract on Comex, Silver added 18 cents to $13.11, copper gained 13 cents to $3.58.
And finally, oil rose 42 cents to settle at $81.93 for October light crude in New York.
Source: Finance News Network © 2007
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