NewSat Limited (ASX:NWT) (OTC:NWTLY) Board of Directors is pleased to report the Group performance for the half-year ending 31 December 2009. As announced to the market during the period by the Directors, the business has turned an EBITDA profit for the 6 months with every key financial metric improving significantly in comparison with the corresponding period.
The Australian share market finished almost unchanged on Tuesday as weakness in resources stocks offset gains in the banking sector. Asian markets were lower yesterday ahead of testimony by US Federal Reserve chairman Ben Bernanke. The benchmark S&P/ASX200 index edged up 0.8 points or 0.02 per cent, at 4718.3 points, while the broader All Ordinaries index had slipped 1.7 points, or 0.04 per cent, lower to 4731.
Australian shares rallied on Monday with gains in resources stocks helped to lift the market. The better-than-expected corporate earnings also fueled the rise. At the close, the benchmark S&P/ASX200 index was 82.4 points, or 1.8 per cent higher, at 4717.5, while the broader All Ordinaries index rose 76.4 points, or 1.6 per cent, to 4732.7.
Australian shares and Asian markets Friday were down on the US Federal Reserve's decision to raise the discount rate for the first time since the financial crisis. NAB's flat cash earnings result also weighed on the Australian shares. At the close, the benchmark S&P/ASX200 index declined 19.8 points, or 0.4 per cent, at 4635.1, while the broader All Ordinaries index slid 17.6 points, or 0.4 per cent, to 4656.3. The local market gained 2 per cent for the week.
ABN Newswire stocks to watch today include: Emergent Resources Limited (ASX: EMG), NewSat Limited (ASX:NWT) (OTC:NWTLY), and Iron Road Limited (ASX:IRD).
Asian markets rallied Wednesday led by resources shares. Japan's Nikkei surged 2.7 per cent while Japanese exporters were helped by the weaker yen. Hong Kong market rose 1.3 per cent led by Chinese banks, as investors digested the Chinese government's decision before the Lunar New Year holiday to increase bank reserve requirement. Singapore also resumed trading on Wednesday and posted a 1.3 per cent gain. Today Shanghai and Taiwan markets remained closed.
NewSat Limited (ASX:NWT) (OTC:NWTLY) Australia's largest independent satellite communications company recorded its maiden positive EBITDA for the first half of the 2010 financial year and wishes to advise the market of the appointment of 2 new directors, ratified by the Board of Directors and effective today, further progressing the companies development and growth.
