Woolworths Limited

Overnight Wall Street slumped in late trading with Dow Jones Industrial Average ended the day down 2.5%. Australia's benchmark S&P/ASX-200 share index yesterday advanced almost 4% for a second straight session, bringing the two-day increase to more than 8%, as buyers flooded back into big mining companies.

Overnight Wall Street gained in a late rally early this morning, as investors snapped up beaten-down shares after Wall Street's worst day since the 1987, and consumer companies gained as the price of oil fell.

US political leaders have struck an agreement in principle on a $US700 billion bailout plan to revive the troubled financial system. It is hoped both houses of US congress will vote on the plan within days. Wall Street and European markets have reacted positively to the news, with major indices recording gains of around two per cent.

The Australian share market closed higher yesterday on gains from the financial sector, and following a strong lead from Wall Street over the weekend. The benchmark S&P/ASX200 rose 83.5 points, or 1.69%, to 5014.9, while the broader All Ordinaries gained 79.9 points to 5090.1.

The Australian share market was boosted by banks yesterday after investor confidence returned following a rally overnight on Wall Street. The benchmark S&P/ASX200 index rose 89.2 points, or 1.84%, to 4936.7, while the broader All Ordinaries climbed 85.4 points, or 1.73%, to 5008.7.

The Australia share market plunged just over 2 per cent yesterday to close at its lowest level in two years, after the US reignited world economic jitters by proposing to bail out US mortgage giants Freddie Mac and Fannie Mae.

The sale of one of Australia's leading poultry producers, Bartter-Steggles, has attracted interest from private equity firms and trade players from across the sector. The company is seeking investors to acquire or invest in the business to help fund the growth, development and modernization of the business.