Telstra Upsets Market
Telstra upset the market with a less than expected 13% rise in net profit for the 2008 year and a less than expected forecast for the 2009 year.
Companies in the News
Australian Economy
CLS's Big Blood Play
Shares in pharmaceutical maker CSL Ltd, maker of the cervical cancer vaccine Gardasil, have been placed in a trading halt, pending the completion of a huge $1.5 billion capital raising to fund a $3.5 billion deal in the US to expand its dominant presence in the global blood plasma business.
FBU Does Better Than Expected Despite Housing Woes
It's no wonder NZ-based Fletcher Building Ltd stood out with a better than expected rise in profit yesterday: a report that saw the shares jump a solid 4.8% on a day when the market fell 2%.
Midday Market Roundup 13/08/08
The market is down 110 – a fair bit worse than the 33 point fall predicted by the futures this morning. Resources down 2.2% despite BHP being up in the US. Financials flogged following the 5.2% fall in the US financials index overnight.
Mining Boom Continues for Some
On Monday United Group showed the way, and yesterday two other groups dependent in part or in whole on the resources industry for their business growth confirmed that for some in the sector, times are sweet.
China's Inflation Puzzle
Some very mixed news on inflation in Asia.
Commodities: No One Wants Oil and Gold
The slump in global commodity prices, led by oil and gold, is looking ominous for producers, and great for consumers and economies like China, India and the US and Europe.
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