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Sydney, Oct 1, 2009 (ABN Newswire) - Overnight the US stocks slid over disappointing data in regional economy, as well as worries on the crucial data ahead including personal income, consumer spending, weekly jobless claims, manufacturing and home sales.
The Australian share market closed flat without a catalyst to boost the market. The benchmark S&P/ASX200 index was 9.5 points, or 0.2 per cent lower, at 4743.6 points, while the broader All Ordinaries index lost 7.9 points, or 0.17 per cent, to 4739.3 points.
Key Economic Facts and Figures
The Australian Bureau of Statistics data showed that residential building approvals fell by 0.1 per cent in August after a 6.6 per cent gain in July. Total house approvals rose for the eighth consecutive month, up 4.1 per cent in August, and apartment approvals fell by 10.9 per cent in August after a 28.9 per cent lift in July.
ABS also revealed an encouraging retail spending, which rose by 0.9 per cent after a similar-sized fall in July.
Today the Australian Industry Group/PricewaterhouseCoopers Australian Performance of Manufacturing Index for September is published. The Australian Bureau of Statistics releases its engineering construction activity data for June.
M&A News
Macquarie Group (ASX:MQG) today said in an statement to ASX that it has agreed to buy Fox-Pitt Kelton Cochran Caronia Waller LLC (FPK), a specialist US-based investment bank focused on financial institutions. The transaction consideration consists of US$130 million in equity value, plus US$16.7 million of long-term liabilities, less cash on balance sheet at financial close.
Campbell Brothers Limited (ASX:CPB) said it intends to make a cash offer for all of the issued capital in PearlStreet (ASX:PST), including shares issued following the exercise of PearlStreet options during the offer period. Campbell Brothers proposes to offer PearlStreet shareholders a cash consideration of A$0.56 per share.
Important Corporate News
China's Yanzhou Coal Mining Co. (SHA:600188)(HKG:1171), which is offering A$3.54 billion for Felix Resources Ltd. (ASX:FLX), said it plans to make an initial public offering of the combined Australian business including its Austar coal mine and the operation of Felix within two to three years of a successful takeover.
Pan Pacific Petroleum NL (ASX:PPP) has signed a farm-in deal on a block in the highly prospective Timor Sea, the company said Wednesday. A subsidiary of Pan Pacific Petroleum will buy a 15% stake in a production-sharing contract with three current partners, Bharat Petroleum Corp., Gujurat State Petroleum Corp. and Global Energy.
Mosaic Oil NL (ASX:MOS) was placed in trading halt as the company proposes to commence a placement process which will continue this evening and tomorrow in order to determine an appropriate price and gauge investor support for the raising.
GrainCorp Ltd. (ASX:GNC) said it has reached agreement with Queensland Government-owned logistics company QR Ltd. for the provision of main line trains to service its Queensland export grain port terminals. The contract with QR's bulk freight subsidiary, Australian Railroad Group (ARG), secures three trains for the terminals at Mackay, Gladstone and Fisherman Islands for a period of three years.
Newmont Mining Corporation (ASX:NEM) today announced the first gold pour at its Boddington mine in Western Australia. In addition, the company has trucked its first shipment of copper concentrate from the mine to the port in Bunbury.
The Australian share market closed flat without a catalyst to boost the market. The benchmark S&P/ASX200 index was 9.5 points, or 0.2 per cent lower, at 4743.6 points, while the broader All Ordinaries index lost 7.9 points, or 0.17 per cent, to 4739.3 points.
Key Economic Facts and Figures
The Australian Bureau of Statistics data showed that residential building approvals fell by 0.1 per cent in August after a 6.6 per cent gain in July. Total house approvals rose for the eighth consecutive month, up 4.1 per cent in August, and apartment approvals fell by 10.9 per cent in August after a 28.9 per cent lift in July.
ABS also revealed an encouraging retail spending, which rose by 0.9 per cent after a similar-sized fall in July.
Today the Australian Industry Group/PricewaterhouseCoopers Australian Performance of Manufacturing Index for September is published. The Australian Bureau of Statistics releases its engineering construction activity data for June.
M&A News
Macquarie Group (ASX:MQG) today said in an statement to ASX that it has agreed to buy Fox-Pitt Kelton Cochran Caronia Waller LLC (FPK), a specialist US-based investment bank focused on financial institutions. The transaction consideration consists of US$130 million in equity value, plus US$16.7 million of long-term liabilities, less cash on balance sheet at financial close.
Campbell Brothers Limited (ASX:CPB) said it intends to make a cash offer for all of the issued capital in PearlStreet (ASX:PST), including shares issued following the exercise of PearlStreet options during the offer period. Campbell Brothers proposes to offer PearlStreet shareholders a cash consideration of A$0.56 per share.
Important Corporate News
China's Yanzhou Coal Mining Co. (SHA:600188)(HKG:1171), which is offering A$3.54 billion for Felix Resources Ltd. (ASX:FLX), said it plans to make an initial public offering of the combined Australian business including its Austar coal mine and the operation of Felix within two to three years of a successful takeover.
Pan Pacific Petroleum NL (ASX:PPP) has signed a farm-in deal on a block in the highly prospective Timor Sea, the company said Wednesday. A subsidiary of Pan Pacific Petroleum will buy a 15% stake in a production-sharing contract with three current partners, Bharat Petroleum Corp., Gujurat State Petroleum Corp. and Global Energy.
Mosaic Oil NL (ASX:MOS) was placed in trading halt as the company proposes to commence a placement process which will continue this evening and tomorrow in order to determine an appropriate price and gauge investor support for the raising.
GrainCorp Ltd. (ASX:GNC) said it has reached agreement with Queensland Government-owned logistics company QR Ltd. for the provision of main line trains to service its Queensland export grain port terminals. The contract with QR's bulk freight subsidiary, Australian Railroad Group (ARG), secures three trains for the terminals at Mackay, Gladstone and Fisherman Islands for a period of three years.
Newmont Mining Corporation (ASX:NEM) today announced the first gold pour at its Boddington mine in Western Australia. In addition, the company has trucked its first shipment of copper concentrate from the mine to the port in Bunbury.
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