Aussie shares closed the session almost half a percept up. Following Wall St’s gains on news the Fed will inject economic stimulus into the US through purchasing $US600 billion worth of bonds. At home stocks lifted in the miners with BHP closing at a six month high.
The S&P/ASX200 Index is 23 points higher to finish at 4,745. On the futures market, the SPI200 is up 32 points. To company news: BHP Billiton Ltd (ASX:BHP) has been forced to review its options following the Canadian Government today blocking its planned US$40 billion hostile takeover of the world's largest fertiliser maker Potash Corporation. Responding to the news, BHP says it is disappointed but will cooperate with regulators as it considers its next move. Canada's Industry Minister Tony Clement earlier gave BHP 30 days to make any additional representations and submit any undertakings before a final decision is cast. Shares in the global miner rose following the news, to close 2.56% up at $43.72.
Centro Properties Group (ASX:CNP) has confirmed it is looking to sell its businesses and assets in Australia and the US, as part of its proposed recapitalisation and restructure. The embattled property group says it has received expressions of interests and will now undertake a competitive market process to assess these offers. The announcement comes surrounding speculation Centro is planning to sell its complete $13.5 billion portfolio. Shares Centro Properties Group rose 12.5% to close at $0.18.
Mobile content distributer Medic Vision Ltd (ASX:MVH) has announced its subsidiary, mConnect Group has partnered with Spain’s Real Madrid soccer team to provide mobile applications to its fans. The sports division is now expected to earn over $1 million EBITDA in the next year.
Speaking to The Australian, AGL Energy’s (ASX:AGK) CEO Michael Fraser has cautioned the NSW Government it will compete with the state-owned electricity retailers through building new power stations, if the state’s privatisation plans go-ahead, effectively increasing the price of electricity.
News Corporation’s (ASX:NWS) first quarter net profit has lifted 36% to $777.49 million, led by a strong performance of its cable network and television divisions.
The class action against ANZ Banking Group (ASX:ANZ) has progressed today, with the Federal Court in Melbourne moving to establish a timetable for the case that will seek to retrieve $50 million in fees paid by ANZ’s customers.
In the best and worst performers: The best performing sector at close was Energy with the index rising 243 points to 15,682. The worst performing sector was Financials Excluding Real Estate Investment Trusts with the index falling 45 points to 5,168. The best performing stock in the S&P/ ASX200 was Atlas Iron shares were 7.03% firmer at $2.74. Shares in Sundance Resources and Pacific Brands also closed stronger. The worst performing stock was Lynas Corporation with shares falling 5.12% to close at $1.39. Shares in Energy Resources of Australia and Nufarm closed weaker today.
In commodities, gold is trading at $1354 US an ounce. And light crude is up $0.66 at $85.35 US a barrel.
