Sydney, Sept 27, 2007 (ABN Newswire) - The share market pushed further into record territory this morning?investors flocking back into financial stocks like Macquarie Bank, and Babcock & Brown.

At Midday the S&P/ASX200 index has gained 49 points to 6,531 and on the futures market the SPI 200's up 40.

In company news this hour, Australian broadcaster, the Seven Network, has announced it will buy wireless broadband carrier Unwired Group. The $127 million deal is part of the network's plans to expand in digital media. Seven says the deal will help it deliver its programmes through new technologies. The broadcaster says it will bid 45 cents a share in cash for Unwired, and would increase that to 50 cents a share if it acquired at least 90 per cent of the firm. Seven is Australia's top-rating commercial television station. Seven Network shares are 1.45% higher at $13.31.

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

Video Link

http://abnnewswire.net/fnnlnk/G1415381


Audio Link

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And it's clear skies for Air New Zealand. The carrier is reporting an 8.5 per cent rise in passengers last month?compared to August 2006. The group-wide load factor was strong with just under 80 per cent of seats filled during the month. Short haul routes experienced 6.6 per cent growth, while long haul routes grew by 20.8 per cent. Key changes to the airline's services since August include the start of services from Auckland to London via Hong Kong and from Auckland to Shanghai. Air New Zealand shares are 5.13% higher at $2.05.

Turning now to market indices, all the major indices were up this morning. The index posting the biggest gain by percentage points is the Health Care index, up 186 points at 9,517. Shares in Cochlear are up 3.36% to $78.04 while CSL and Ramsay Health Care are also higher.

The index with the smallest gain by percentage points is the Consumer Staples index, up 21 points to 8,314. Coca-Cola Amatil shares are down 2.84% to $9.23. Goodman Fielder and Lion Nathan shares have also lost ground.

In Tokyo, the Nikkei is up 204 points and in New Zealand the NZSX50 is up 17.

Gold is currently trading at $728 U.S an ounce and one Australian dollar's buying 87.62 U.S cents.

Source: Finance News Network © 2007 http://www.finnewsnetwork.com.au

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