Yesterday the Australian shares closed with a three months high, lifted by stronger banks and resources stocks. The benchmark S&P/ASX200 index was up 2.2%, or 81.3 points, at 3752.9, while the broader All Ordinaries index also gained 2.2%, or 80.5 points, at 3698. The financial sector was largely buoyed by the US bank Goldman Sachs’ first quarter earnings.
NewSat Limited (ASX:NWT)(PINK:NWTLY) In response to many queries from shareholders on the subject of NBN, and following the release of Government policy, NewSat wishes to update all shareholders and the market of our position in relation to our plans to launch a satellite In November 2007, we announced our intentions to seriously pursue the opportunity to launch Australia's first non-government/non-foreign owned, predominantly Ka band geostationary satellite.
The Australian market is expected to rise after Easter holiday as metals prices were up overnight. On Thursday the benchmark S&P/ASX200 index gained 52.1 points, or 1.4%, at 3671.6, while the broader All Ordinaries surged 50 points, or 1.4% to 3617.5.
NewSat Limited (ASX:NWT)(PINK:NWTLY) has delivered another strong quarter for the period ending 31st March '09 with an increase in revenue of approximately 40% over the corresponding period last year, and exceeding this year's ambitious targets.
Yesterday the Australian share market is lower after the RBA's rate cut announcement. The S&P/ASX200 index fell 1.3%, or 50.3 points, at 3706.3, while the broader All Ordinaries index was down 1.3%, or 47.9 points, at 3648.9.
NewSat Limited (ASX:NWT) welcomes the Prime Minister Kevin Rudd's announcement yesterday, that the Australian Government will build a high speed broadband infrastructure for the entire country. While the primary vehicle for broadband is a fibre network to the home, the Government estimates that 10 percent of Australians will be provided broadband through other means.
Yesterday Aussie shares closed slightly lower after the massive fall in the US market. The benchmark S&P/ASX200 index ended the day down 0.6%, or 22.3 points, at 3582.1, while the broader All Ordinaries index fell 0.6%, or 21.9 points, at 3532.3. The local market has become more immune to Wall Street’s negative leads in recent days.
