View in Other Languages 6月23日澳洲股市:全球经济前景下调 Australian Market Report of June 23: Global Economy Outlook Downgraded 6月23日澳洲股市:全球經濟前景下調 オーストラリア市場レポート 6月23日:国際経済見通しの下方修正 تقـريـر سـوق أسـتراليــا الـمالـي 23 حزيران /يونيو : خفض توقعات الإقتصاد العالمي 6월23일 호주 시장보고서: 글로벌 경기전망 하향조정 
Aquila Resources Limited (ASX:AQA) and API Management Pty Ltd (
Aquila Resources Limited (ASX:AQA) and API Management Pty Ltd ("API") which is the manager of Aquila's 50% owned West Pilbara Iron Ore Project, have signed a Cooperation Agreement with Fortescue (ASX:FMG) to investigate the potential for shared development of port facilities at Anketell Point.

Sydney, June 23, 2009 AEST (ABN Newswire) - Wall Street tumbled significantly overnight amid renewed concerned over the economy outlook. The Dow index dropped 200 points after the World Bank downgraded its expectations of the global economy in 2009. Sharp falls in oil and other commodities also hit the resources stocks.

The Australian market closed higher yesterday driven by the news of Xstrata's proposed merger with Anglo-American and NAB's buying Aviva Australia. The benchmark S&P/ASX200 index was up 0.5 per cent, or 18.6 points, at 3918.2, while the broader All Ordinaries index advanced 0.4 per cents, or 16.4 points, at 3910.8.

Key Economic Facts and Figures

The Australian Bureau of Statistics data showed that new motor vehicle sales in Australia jumped 5.4% in May, seasonally adjusted, the biggest increase since early 2005. New car sales reached 75,472 units in May, up from 71,626 units in April.

The economy is expected to record a contraction of 0.9 per cent in 2009 in year-average terms, Dun and Bradstreet (D&B) says in its latest Global Economic and Risk Outlook report. D&B forecast GDP to grow by 0.7 per cent in 2010, and the unemployment rate to reach 8.5 per cent by the end of next year.

M&A News

Gindalbie Metals Ltd (ASX:GBG) said that the Chinese Government has formally approval the company's previously announced A$162.06 million share placement to its joint venture partner Ansteel. Following the placement, Ansteel will hold a 36 per cent stake in Gindalbie. The two companies will be working to complete the placement procedures within the next seven days, Gindalbie said in a statement.

Important Corporate News

Mining service, chemicals and consumer products group Orica Limited (ASX:ORI) says it is still working on a demerger of its consumer products division, but a split is unlikely in the next 12 months. Orica dumped plans to spin off its consumer business in November last year due to financial market concerns.

Construction company Bovis Lend Lease, wholly owned by Lend Lease Corporation (ASX:LLC), has lost a $US72.7 million contract to build a New York school for failing to reveal it was the focus of a criminal probe, according to a newspaper report. US authorities are investigating Bovis Lend Lease for payroll and billing irregularities at five other New York projects.

Australia's APN News & Media Ltd (ASX:APN) has completed an equity sale to raise $A99 million. APN's main shareholder Independent News & Media's 39.1 per cent stake in APN was diluted to about 32 per cent after the share sale.

Telstra (ASX:TLS) executives will have their pay frozen as part of the company's annual wage review. Telstra plans to freeze the salaries of around 300 of its top executives, including section heads, a person familiar with the situation said Tuesday.

Industrial property company Goodman Group (ASX:GMG) has had its long-term, unsecured credit rating reduced from Baa2 to Baa3 by ratings agency Moody's Investor Services. Goodman said the downgrade would increase the non-residential property company group's interest bill by about A$2 million a year.

Aquila Resources Limited (ASX:AQA) and API Management Pty Ltd ("API") which is the manager of Aquila's 50% owned West Pilbara Iron Ore Project, have signed a Cooperation Agreement with Fortescue (ASX:FMG) to investigate the potential for shared development of port facilities at Anketell Point.

Contact

Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net


ABN Newswire
ABN Newswire This Page Viewed:  (Last 7 Days: 20) (Last 30 Days: 68) (Since Published: 17386) 

View in Other Languages 178191738617050163391588515703 (100182)

googlechart