The Australian market finished mildly higher today in a choppy session.
This afternoon the Reserve Bank increased interest rates by 25 basis points for the third month in a row, as expected. The board said the rate hike would help sustain economic growth. Westpac was the first bank to react and increased its variable loan rate by 45 basis points.
The S&P/ASX 200 Index closed 18 points higher at 4,719 while on the futures market, the SPI200’s up 31.
In economic news out today was the Australian Bureau of Statistics saying that building approvals fell 0.6% in October compared to September.
To company news around this afternoon: Lend Lease (ASX:LLC) has raised its offer for the 57 per cent of Lend Lease Primelife (ASX:LLP) that it doesn't already own to 35 cents per share. The revised offer has been recommended by Lend Lease Primelife’s independent directors. In separate news, the company has won a contract to run a 1.5 billion pound redevelopment project in London. Lend Lease shares gained 9.03% at $9.90.
Transport and logistics company Asciano (ASX:AIO) has signed a $500 million, 12-year contract with coal miner Idemitsu for the haulage of coal from its Boggabri mine in Gunnedah, NSW. The company said the deal delivers growth in volumes, superior returns on capital and high quality earnings for the next 12 years and would require an additional train on its Pacific National’s Hunter Valley fleet. Asciano also said the sale of its Pacific National Tasmania business to the Tasmanian Government is complete. Asciano shares are 3.93% higher at $1.72.
Also making news: Woodside Petroleum (ASX:WPL) workers at the Pluto liquefied natural gas project near Karratha in Western Australia have stopped work for 48 hours to strike because of new `motel-style' accommodation that will be introduced instead of the permanent cabins they have been living in.
Downer EDI (ASX:DOW) said that its mining division has secured $170 million in contracts, taking the value of total mining contracts to over $670 million for the current financial year.
Taking a look at some of the stories covered in our earlier reports: Qantas (ASX:QAN) says passenger numbers increased 6.7% in October to 3.679 million passengers compared to a year ago.
Rio Tinto (ASX:RIO) has completed the sale of Alcan Composites to Schweiter Technologies for US$349 million.
In the best and worst performers: The best performing sector today was the Industrials index, which was up 39 points to 3,781. The worst performing by percentage points was the Real Estate Investment Trust index; which lost 3 points to 877.
The best performing stock in the S&P/ ASX200 was Lend Lease. Shares in Nexus Energy and Elders also improved.
The worst performing stock was Eastern Star Gas as shares lost 6.02% to $0.78. Aquila Resources and Energy World Corp shares also closed lower today.The Australian market finished mildly higher today in a choppy session. This afternoon the Reserve Bank increased interest rates by 25 basis points for the third month in a row, as expected. The board said the rate hike would help sustain economic growth. Westpac was the first bank to react and increased its variable loan rate by 45 basis points.
The S&P/ASX 200 Index closed 18 points higher at 4,719 while on the futures market, the SPI200’s up 31.
In economic news out today was the Australian Bureau of Statistics saying that building approvals fell 0.6% in October compared to September.
To company news around this afternoon: Lend Lease (ASX:LLC) has raised its offer for the 57 per cent of Lend Lease Primelife (ASX:LLP) that it doesn't already own to 35 cents per share. The revised offer has been recommended by Lend Lease Primelife’s independent directors. In separate news, the company has won a contract to run a 1.5 billion pound redevelopment project in London. Lend Lease shares gained 9.03% at $9.90.
Transport and logistics company Asciano (ASX:AIO) has signed a $500 million, 12-year contract with coal miner Idemitsu for the haulage of coal from its Boggabri mine in Gennedah, NSW. The company said the deal delivers growth in volumes, superior returns on capital and high quality earnings for the next 12 years and would require an additional train on its Pacific National’s Hunter Valley fleet. Asciano also said the sale of its Pacific National Tasmania business to the Tasmanian Government is complete. Asciano shares are 3.93% higher at $1.72.
Also making news: Woodside Petroleum (ASX:WPL) workers at the Pluto liquefied natural gas project near Karratha in Western Australia have stopped work for 48 hours to strike because of new `motel-style' accommodation that will be introduced instead of the permanent cabins they have been living in.
Downer EDI (ASX:DOW) said that its mining division has secured $170 million in contracts, taking the value of total mining contracts to over $670 million for the current financial year.
Taking a look at some of the stories covered in our earlier reports: Qantas (ASX:QAN) says passenger numbers increased 6.7% in October to 3.679 million passengers compared to a year ago.
Rio Tinto (ASX:RIO) has completed the sale of Alcan Composites to Schweiter Technologies for US$349 million.
In the best and worst performers: The best performing sector today was the Industrials index, which was up 39 points to 3,781. The worst performing by percentage points was the Real Estate Investment Trust index; which lost 3 points to 877.
The best performing stock in the S&P/ ASX200 was Lend Lease. Shares in Nexus Energy and Elders also improved.
The worst performing stock was Eastern Star Gas as shares lost 6.02% to $0.78. Aquila Resources and Energy World Corp shares also closed lower today.
In commodities, gold is trading at $1,177.35 U.S an ounce and since this morning light crude is down 10 cents at $77.18 U.S a barrel.
In commodities, gold is trading at $1,177.35 U.S an ounce and since this morning light crude is down 10 cents at $77.18 U.S a barrel.
