Thumbs Down For WES
Hmmm, went investors yesterday as they studied the annual figures of Wesfarmers, 'this is not good, it's really a resources company with all these other bits attached to it, including Coles"
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Australian Economy
Australia Market Report of August 21: Market Firmed by Profit Reports
The Australian share market had its best day in two weeks yesterday, with the market closing firmly in the black after ovecoming a negative lead from Wall Street.
Midday Market Roundup 21/08/2008
The market is down 44 having been down 61 at worst. Financials down 1.8%. Resources up 0.3% despite gains in BHP and RIO and US oil and energy stocks overnight - BHP and RIO are up 1.0% and 1.5%. Metals mostly down. Nickel stocks up on the back of rising nickel prices overnight. Energy stocks enjoying a 2-day jump in the oil price and coal seam stocks up on the back of a 25.5% spike in Sunshine Gas on a takeover bid from Queensland Gas, the fourth big deal in the Coal Seam Gas sector this year. Some brokers seeing it as a catalyst for the rest of the sector after recent falls. Loads of Results. Babcock & Brown MD resigns. Price down another 23% to 263c….down from a high of 3478c. BBW down 2.06%.
Will QGC Bid Hit Origin Bid?
Will this deal kill BG Group's multi-billion bid for Origin Energy?
Brambles Down On US Fears
Brambles shares were well and truly hammered yesterday by nervous investors after the company's 2008 earnings report and outlook failed to quell fears about its exposure to the troubled US economy and to the giant Wal-Mart retailing chain which is perhaps its most important contract overseas.
Coca Cola Amatil'S Fizzy First Half
Soft drink and alcohol group, Coca Cola Amatil (CCA) says it is on track for high single digit second half earnings growth after posting a surprisingly strong 22% lift in interim profit.
Pac Brands/ Noni B: Tough Times in The Rag Trade
More and more Australian companies are finding themselves in the profit report naughty corner, so far as investors are concerned; both for indifferent 2008 results and/or cloudy 2009 outlooks.
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