The Australian stock market opened higher this morning after Wall Street returned to gains on better-than-expected corporate earnings and encouraging economic data.
GDF Suez SA
Australian shares fell for a second straight session on Thursday as investors were disappointed with the US existing home sales data and not expecting any inspiring results from new home sales. The benchmark S&P/ASX200 index lost 72.2 points, or 1.6 per cent, to 4486.1 points, while the broader All Ordinaries index was off 71.9 points, or 1.6 per cent, at 4509.4.
Alinta Energy Group (ASX:AEJ), formerly known as Babcock & Brown Power, said it has received a number of indicative, non-binding, confidential bids while the power generator is in the process of the restructure of its finance facilities. These bids include bids for both whole of business and parts of the business.
US stocks plunged significantly overnight despite a better-than-expected US manufacturing survey data. Falls in Asia and Europe markets put heavy pressure on the US stocks. Shanghai stocks dropped 5.8% Monday.