The Australian share market closed higher, up almost .7%, Consumer Discretionary stocks leading the gains.
In breaking news, Rio Tinto (ASX:RIO) has just announced record first half underlying earnings of US$5.8 billion, up 125% from the same period in 2009.
To Aussie shares: the S&P/ASX 200 Index is up 24 points to finish at 4,567. And on the futures market, the SPI200 is up 18 points.
To company news around this afternoon: Toll Road operator Intoll Group (ASX:ITO) has agreed to extend the due diligence period for the Canada Pension Plan Investment Board’s proposed $3.5 billion takeover. The Canadian company has offered to purchase all of Intoll’s issued capital for $1.535 per security via a scheme of arrangement, and submitted an indicative, non-binding and conditional proposal on 15 July. Intoll says that it continues to engage with Canada Pension Plan Investment Board and has extended the due diligence period for around one week. Shares in Intoll Group are 1.35% down at $1.46.
Gloucester Coal Ltd (ASX:GCL) has raised $434 million through an institutional placement to fund its acquisition of Noble Group’s Ltd interests in the Middlemount joint venture coal project in Queensland. Gloucester says the entitlement offer will result in the issue of 47 million new shares at the offer price of $9.25 per share. On Wednesday Gloucester reported full year net profit after tax of $36.4 million for the year ended 30 June 2010, down from $90.7 million a year ago. Shares in Gloucester Coal are 10.27% up at $12.42.
Aevum Ltd (ASX:AVE) has clarified the details of Stockland’s (ASX:SGP) $266 million takeover offer, outlining that the offer terms, including price, may not be final and that Stockland’s reserves the right to increase the offer price, though it claims to have no current intention of doing so.
Paladin Energy (ASX:PDN) has advised it has signed a memorandum of understanding with a Chinese Nuclear Plant for sales of uranium and a possible joint venture.
News Corporation (ASX:NWS) has achieved a net profit of $2.74 billion for the year to 30 June, a significant increase from the $3.72 billion loss reported a year ago.
Downer EDI Ltd (ASX:DOW) has signed a six-year contract with Fortescue Metals Group Ltd (ASX:FMG) valued at $3 billion to provide mining services at Fortescue’s Christmas Creek project in the East Pilbara region.
In the best and worst performers: Most sectors closed in the black today. The best performing sector at close was the Consumer Discretionary index, up 17 points at 1,532. The worst performing sector was Telco Services index, down 7 points at 1,113.
The best performing stock in the S&P/ ASX200 was Linc Energy shares rose 7.16% to $1.87. Shares in Paladin Energy and Transpacific Industries also closed higher. The worst performing stock was Singapore Telecommunications, shares fell 2.77% to close at $2.46. Shares in PaperlinX and Tabcorp Holdings also closed weaker today.
In commodities, gold is trading at $1194 U.S an ounce, and light crude is down $0.22 at $82.25 U.S a barrel.
