Australian Market Report of July 31: To Extend Solid Gains
US stocks broadly surged on Thursday fueled by the better-than-expected earnings reports. The market's rally pushed the major indexes to their highest closes of the year.
US stocks broadly surged on Thursday fueled by the better-than-expected earnings reports. The market's rally pushed the major indexes to their highest closes of the year.
The Board of Foster's Group Limited (ASX:FGL) has approved a $US500 million 3-year syndicated debt facility, following a recent successful road-show and invitation to Asian bank debt markets.
Zhongpin Inc. ("Zhongpin", NASDAQ:HOGS), a leading meat and food processing company in the People's Republic of China, today announced that it has engaged Christensen investor relations to facilitate and help execute its investor and media relations program. Christensen assists companies in achieving fair valuations and strengthening their recognition and investor understanding within the global investment market.
Australian shares yesterday gained on the rise of Wall Street. The benchmark S&P/ASX200 gained 71.1 points, or 1.8 per cent, at 3995.6, while the broader All Ordinaries had gained 70.3 points, or 1.8 per cent, to 3987.8.
Alongside global efforts of transforming the energy paradigm, Asia Pacific is extensively exploring sustainable strategies to incorporate renewable energy and clean technology to stimulate its economy. The threats of energy insecurity and climate change, not only has fuelled the increasing demand for alternative energy but has created an inevitable agenda for governments and industry stakeholders worldwide to act upon.
Yesterday, the Australian stocks closed lower led by weakness in mining and energy sectors following the drop in oil prices. The benchmark S&P/ASX200 index lost 44.5 points, or 1.16 per cent, to 3,783.7 points, while the broader All Ordinaries index was 42.4 points, or 1.11 per cent lower, to 3,784.2 points. Analysts expect the market remains low trading volume as the investors were nervous ahead of the reporting season.
The Australian shares fell in late trading on Monday, pulled by energy sector. The benchmark S&P/ASX200 lost 16.9 points, or 0.43 per cent, to 3886.9, and the broader All Ordinaries was down 16.8 points or 0.43 per cent to 3882.7. Analysts expect the local market remained directionless ahead of the financial year end.