Sydney, Oct 29, 2007 (ABN Newswire) -
Australian stocks started the week on a stronger note as mining shares jumped on news of Anglo-Swiss miner Xstrata's takeover bid for Jubilee Mines. Also adding to the positive mining sector this morning was the higher cost of oil, hitting a new record peak over $92 US a barrel and strong metal prices.
At Midday the S&P/ASX200 index has gained 66 points to 6,767 and on the futures market the SPI 200's up 70.
Boral said this morning its full-year profit could fall by around 15 per cent because of weak housing markets in the United States and a strong Australian dollar.
The full report is available at the following video and audio links.
Video Link
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http://abnnewswire.net/lnk/N9378475Source: Finance News Network © 2007
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