Dubai yesterday said it had received US$10 billion in financing from Abu Dhabi to pay part of the debt held by Dubai World and its property unit Nakheel. The news prompted the Australian market into positive territory in late trade. At the close, the benchmark S&P/ASX200 index rose 0.4 per cent, at 4654, after earlier falling as low as 4608.3. The broader-based All Ordinaries index climbed 16.8 points, or 0.4 per cent, to 4668.2.
Woodside Petroleum Limited
US stocks fell for the second day after a downgrade of technology companies such as Intel. Energy and materials shares also showed losses as commodities prices tumbled.
Wall Street ended its three-day rally after mixed economic data overnight. New claims for unemployment benefits in the US fell for the second consecutive week, but housing starts rose a less-than-expected 1.5 per cent compared with the prior month.
Emergent Resources Limited (ASX:EMG) Announce A Beyondie Project Update And The Appointment Of Mr Dan Podger To Technical Services Geologist
Emergent Resources Limited (ASX:EMG) has appointed former Gindalbie Metals senior geologist Dan Podger to the position of Technical Services Geologist at the Beyondie Magnetite Iron Project.
Perth-based exploration company Emergent Resources Limited (ASX:EMG) (Emergent) is pleased to announce that it has commenced its third-phase drilling program at the company's flagship Beyondie Iron Project in the mid-west region of Western Australia.
Wall Street posted a strong gain overnight with Dow index jumped above 9000 points mark for the first time since January. The market was bolstered by upbeat housing data and favourable corporate earnings.
Otto Energy Limited (ASX:OEL)(PINK:OTTEF) announces the appointment of Mr Paul Moore as the Company's new Chief Executive Officer effective 1 July 2009. Paul Moore (50) has extensive experience in the oil and gas industry with 27 years in operating oil and gas companies, including 17 years in executive management roles. Paul has an international track record in oil/gas field developments and in new business growth.
Yesterday the Australian share market was bolstered by favorable local and overseas economic data. The benchmark S&P/ASX200 index gained 60.9 points, or 1.56 per cent, to 3955.3 points, while the broader All Ordinaries index surged 60.2 points, or 1.55 per cent, at 3948.1 points.
The Australian share market yesterday closed slightly higher with a good lead from Wall Street. The benchmark S&P/ASX200 index gained 12.7 points, or 0.3 per cent, at 3801.1, while the broader All Ordinaries index rose 13.7 points, or 0.4 per cent, to 3795.3. There was a sell-off in late trading as investors drew cash to participate ANZ's capital raising.
Yesterday the Australian share market ended slightly lower dragged by financial stocks. The benchmark S&P/ASX200 was down 10.7 points, or 0.28 per cent, at 3813.9, while the broader All Ordinaries had lost 4.2 points, or 0.11 per cent, to 3804.7.