The Australian shares closed lower on Thursday despite mining shares were stronger on expectations of higher iron ore prices. The fall was largely due to weakness in financial stocks. The market saw some profit-taking selling in miners in the afternoon. At the close, the benchmark S&P/ASX 200 index fell 22.0 points, or 0.45 per cent, to 4899.4 points, while the broader All Ordinaries index lost 16.3 points, or 0.33 per cent, to 4930.5 points.
Retail Food Group Limited
Yesterday the Australian market proved defiant and held its ground despite massive falls in the US, according to CMC Markets. Interestingly, the share market didn't react too much to the interest rate decision.
Australian shares yesterday closed higher after the lift of commodities prices. The benchmark S&P/ASX200 index was up 38.4 points, or 1.08 per cent, at 3,589.3, while the broader All Ordinaries index advanced 36.1 points, or 1.03 per cent, to 3,531 after a positive lead from Wall Street on Friday.
On 7 September 2007 Retail Food Group Limited (RFG) announced that it had entered into a Scrip & Cash Terms Agreement (SCTA) with the shareholders of The Michel's System Australia Pty Ltd (TMGA), the intellectual property owner and manager of the Michel's Patisserie franchise system.