Sydney, Oct 12, 2007 (ABN Newswire) -
Australian shares fell 0.6 per cent on Friday, ending a five-session winning streak, with recent strong gainers such as the banks falling on concerns that valuations were looking expensive.
At Midday the S&P/ASX200 index is down 27 points to 6,745 and on the futures market the SPI- 200's down 34.
In company news this hour, blood products firm Life Therapeutics has received another acquisition offer for its plasma collection centres. AAP reports the latest unsolicited offer of around $66 million in cash has been made for 12 of the company's 14 centres and a central testing laboratory. The company says its board is now reviewing three offers and will announce its decision once a review process was completed to determine the best interests of its shareholders. The news has sent shares in Life Therapeutics up 7.81 percent to $0.69.
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http://abnnewswire.net/lnk/8E9X0247Babcock and Brown Infrastructure has announced its bought two Finnish concession port operators for a combined enterprise value of $144 million. Together the operators comprise the largest paper port operator and third largest container port operator in Finland. A BBI official says the transaction is one of several in a pipeline of European Port opportunities being considered by the company. BBI now controls a portfolio of five European concession port companies, with operating concessions in eleven ports throughout Europe. Shares in BBI are up 0.9 per cent to $1.675.
Turning now to market indices, the index posting the biggest gain by percentage points is the Materials which is up 21 points to 15,889. Shares in BHP Billiton are up 0.91 per cent to $46.46. Shares in Newcrest Mining and Oxiana are also higher.
The worse performing index by percentage points in the Telco which is down 17 points to 1,623. Shares in Singapore Telecom are down 2.5 per cent to $3.12. Shares in Telstra and Telecom New Zealand are also lower.
In Tokyo, the Nikkei is down 73 points and in New Zealand the NZSX-50 is down 5.
Gold is currently trading at $746.70 US an ounce and one Australian dollar's buying 90.13 U.S cents.
Source: Finance News Network © 2007
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