Australian Market Report of February 22, 2011 includes: Stonehenge Metals Limited (ASX:SHE) announced that total contained uranium at Daejon Uranium Project in South Korea has increased by 87% to 65 million pounds of U3O8; News Corporation (ASX:NWS) (NASDAQ:NWS) signed letter of intent to acquire 100% of Shine Group; African Energy Resources Limited (ASX:AFR) identifies thick, shallow coal seam in Botswana; Incremental Oil And Gas Limited (ASX:IOG) reported excellent oil discovery in Smoot #1 well.
The Australian stock market opened higher this morning after Wall Street returned to gains on better-than-expected corporate earnings and encouraging economic data.
Australian shares fell significantly this morning after the US and European markets shed on concerns over the euro zone's ability to contain its debt crisis. The S&P/ASX 200 index lost nearly 2 per cent shortly after the market opened. On economic news front, today Australian Industry Group releases performance of service index for April, while Australian Bureau of Statistics publishes building approvals data for March.
Australian stocks rose Wednesday following encouraging earnings result from media group News Corp. At the close, the benchmark S&P/ASX200 index gained 42.6 points, or 0.9 per cent, at 4647.9, while the broader All Ordinaries index rose 44.4 points, or 1 per cent, to 4673.2.
US stocks overnight closed at a new high for the year as the G20 finance ministers and central bankers pledged to keep stimulus measures until a recovery was certain. Dow jumped more than 200 points for the session, with 29 of the index's 30 components finished in the green.
US Stocks declined on Wednesday on a weak sales outlook from P & G and concerns over the service and labour sectors. Economic data showed an unexpected fall in activity in the service sector and larger-than-expected losses of private sector jobs.
Yesterday Australian shares closed lower on concern about the health of US banks. The benchmark the S&P/ASX200 index fell 0.6%, or 23.3 points, at 3867.1, while the broader All Ordinaries index was down 0.6%, or 22.1 points, at 3840.1.
Yesterday the Australian shares closed slightly lower with the benchmark S&P/ASX200 index down 0.3%, or 9.3 points, at 3428.6, while the broader All Ordinaries index declined 0.3%, or 9.7 points, at 3372.6. The market opened higher after the positive lead from the US and UK, but could also be rocked by the earnings of NAB and News Corp.
Ventracor Limited (ASX: VCR)(PNK: VTCRY) announced today changes to the Board of Directors. John Massey has retired as a Director and Chairman of the Board. John Ward has been elected Chairman of the Board of Directors, and William Curran takes on the role of Chairman of the Audit, Risk and Compliance Committee.
News Corporation (ASX: NWS) - 4th Quarter Fiscal 2007 Results - Mr Rupert Murdoch, Chairman and CEO; News Corporation (ASX: NWS) present the following audio webcast regarding "4th Quarter Fiscal 2007 Results". You may also download this audio webcast to your computer or portable audio player.