Csr Limited

Lithium Power International Ltd (ASX:LPI) (OTCMKTS:LTHHF) is pleased to advise the appointment of Mr. Russell C Barwick Dip. Min Eng, FAusIMM, FAICD, as non-executive Director as at today's date.

The Australian stock market opened lower on Wednesday after US stocks dropped and oil and metals prices slipped overnight.

The Australian shares rebounded strongly from early losses on Tuesday, helped by the Reserve Bank of Australia's decision to keep interest rates steady at 4.5 per cent. At the close, the benchmark S&P/ASX200 index was 54 points, or 1.3 per cent higher, at 4276.1, after hitting a 12-month low at opening. The broader All Ordinaries index gained 49.1 points, or 1.2 per cent, to 4299.7.

CSR Limited (ASX:CSR) said Tuesday it has entered into an agreement to sell its Asian Business to Danish stone wool producer Rockwool Group for A$128 million.

The Australian share market gave up its early gains to finish 0.3 per cent lower on Monday while Asian markets were weaker. The benchmark S&P/ASX200 index was down 16.6 points, or 0.39 per cent, at 4,222.1, while the broader All Ordinaries index shed 14.3 points, or 0.34 per cent, to 4,250.6.

CSR Limited (ASX:CSR) said it has agreed to sell its sugar and renewable energy business, Sucrogen, to Singapore listed agribusiness Wilmar International Limited (SIN:F34) for A$1.75 billion.

The Maryborough Sugar Factory Limited (ASX:MSF) is now in a position to proceed to the next stage of the planned joint venture with Bundaberg Sugar Limited, a subsidiary of Belgium's sugar mills group Finasucre, after advice from Australia's Foreign Investment Review Board (FIRB).

Australian building materials and sugar producer, CSR Limited, now can move on its plan to separate its sugar and renewable energy business, after the Federal Court accepted an appeal from CSR in relation to lower court's ruling to block the company's demerger proposal in February.

Wall Street overnight fell on the unexpected drop of the private sector employment data, which raised investors' concern over the key nonfarm payroll figures to be released on Friday. Asian markets were mostly lower Wednesday. Japan's Nikkei index closed slightly lower with a 0.1 per cent fall on the last day of the current fiscal year for most Japanese companies. China's Shanghai Composite and Hong Kong's Hang Seng Index both lost 0.6 per cent. Today China is due to release PMI figures for the manufacturing sector.

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.