THE Australian stock market is expected to start the first day of trading for this year in a positive mood, with analysts predicting continued strong confidence in the local bourse.
“We expect another positive year for the local share market, supported by solid global growth, continued expansion of the Australian economy and favourable valuations,” CommSec equities economist Mr Carl Jensen said.
SAN FRANCISCO, Dec. 13 -- Software maker PeopleSoft Inc. announced Monday that it had agreed to be acquired by Oracle Corp. in a $10.3 billion deal, ending one of the longest and nastiest takeover battles in recent corporate history.
Dec. 7 (Bloomberg) -- Australia's S&P/ASX 200 Index rose, paced by Metcash Trading Ltd. after Citigroup Inc. raised the stock's rating, saying the company's offer to buy Foodland Associated Ltd. would increase its earnings growth.
Australia's groceries market is set for another big takeover bid.
Wholesaler and retailer Metcash Trading wants to acquire the Australian business of the West Australian-based Foodland.
It has made an off-market offer of $7.18 per share, valuing Foodland Australia at $846 million.
Melbourne's 2004 spring racing carnival has delivered a record turnover to gaming and wagering business Tabcorp.
Tabcorp managing director Matthew Slater has told the company's annual general meeting that overall revenue in the first four months of the financial year is up 7 per cent on a normalised basis.
Australian miner WMC Resources LTD said Wednesday that known mineral resources at its Olympic Dam mine in South Australia state have increased by 29 percent to 3.8 billion metric tons (4.19 billion U.S. tons) as a result of recent drilling.
Total copper resources increased by 7 million metric tons (7.72 million U.S. tons) to an estimated 42.7 million metric tons (47.07 million U.S. tons), uranium resources by 230,000 metric tons (253,531.53 U.S. tons) to an estimated 1.4 million metric tons (1.54 million U.S. tons), and gold resources about 24 percent to an estimated 55.1 million ounces.
The Murdoch family's long-term control of its media empire is less certain this week after News Corporation's largest investor moved to almost double his voting stake.
The US investor John Malone announced that his Liberty Media group had signed a swap deal with Merrill Lynch in which the broker bought 8pc of News Corporation's voting shares and gave Liberty the right to buy them next year.
Foster's Group Limited (FGL) said today that while market conditions in the US remained highly competitive and challenging, they were seeing improvement in the supply of wine in the key US market. The company’s chief executive officer Mr Trevor O'Hoy also told shareholders at its AGM that Fosters was targeting above 10% normalised earnings per share growth from the full 2006 financial year.
Oct. 25 (Bloomberg) -- Australian's benchmark S&P/ASX 200 index had its biggest drop in two months, led by BHP Billiton, on concern that record oil prices will slow economic growth and demand for metals.
The S&P/ASX 200 Index shed 23.10 points, or 0.6 percent, to 3686.80 as of 10:39 a.m. in Sydney.
Westfield Group and Multiplex Group today announced they had agreed on a cash offer for UK property holding company Duelguide of £585 million ($1.44 billion).
The offer for the holding company of Chelsfield has an enterprise value of about £2.1 billion. Multiplex's share of the cash offer is 25 per cent, or £146.25 million.
