Sino Gold Limited
iSOFT Group Limited (ASX:ISF) today announces the appointment of Andrea Fiumicelli as Chief Executive Officer following an international executive search initiated in September. He will join the Board effective after today's Annual General Meeting.
Clean Global Energy Limited (ASX:CGV) is pleased to announce the appointments of Wayne Rossiter as Chief Financial Officer and Carl D'Silva as Exploration and Mining Geologist. Wayne Rossiter is a mining engineer and a chartered accountant with extensive experience in the mining and energy sectors. Carl D'Silva is an exploration and mining geologist with experience in PNG, Indonesia and Australia.
The Board of Conquest Mining Limited (ASX:CQT) (PINK:CQMLF) is pleased to announce that Mr Jake Klein has accepted the position of Executive Chairman of the Company. Mr Nicholas Curtis and Mr James (Jim) Askew will also be appointed to the Board as Non Executive Directors. The appointments are subject to shareholder approval and will take effect on the date of an Extraordinary General Meeting (EGM) to be called as soon as practicable.
US shares rebounded on Monday after a losing week hit by a series of disappointing economic reports. The market gained as Goldman Sachs recommended large banks and a report showed service industries returned to growth after 11 months of contraction.
Canada's Eldorado Gold (TSE:ELD) plans to make a scrip takeover bid of Australia based Sino Gold (HKG:1862)(ASX:SGX), offering 0.55 of its shares for each Sino Gold share, valuing China-focused gold miner at A$2.2 billion.
US stocks closed nearly unchanged Wednesday despite a stronger than expected increase of new home sales and a jump in durable goods orders. The market responded to the positive data with a shrug, as investors remained cautious and took their profits after rallies.
Overnight Wall Street was up on economic data, positive earnings and the nomination of Federal Reserve chief Ben Bernanke to serve a second term. The Conference Board's August index of consumer confidence rose for a second month, exceeding economists' forecast.
US stocks surged overnight as the Federal Reserve said the economy was leveling out, and it left interest rates unchanged at the end of its two-day policy meeting.
Wall Street ended the last trading session of July with a positive note on Friday. The Dow increased 0.86% for the week and 8.58% for the month thanks for the better-than-expected earnings reports. The US government reported on Friday that gross domestic product declined by 1% in the second quarter, while economists had expected that number to be around 1.5%. The result gave investors stronger confidence that the worst recession since the Great Depression is likely coming to an end.
The Australian share market yesterday ended higher for a second day, following another rise on Wall Street. The benchmark S&P/ASX200 index gained 57.4 points, or 1.5 per cent, at 3924.5 points, while the broader All Ordinaries index was up 58.7 points, or 1.5 per cent, to 3917.5 points. Trading volumes were still light as the local market was awaiting more upbeat earnings reports from the US to solidify confidence.
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