Feb. 21 (Bloomberg) -- Australia's S&P/ASX 200 Index gained, led by Australian Gas Light Co. after Alinta Ltd. bid A$8.9 billion ($6.6 billion) for the company.
The S&P/ASX 200 Index advanced 43.6, or 0.9 percent, to 4879.1 at the 4:15 p.m. close in Sydney. About 13 stocks rose for every nine that fell.
New Zealand's NZX 50 Index fell 0.1 percent to 3368.43 at the 5 p.m. close in Wellington.
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.
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.
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.
Brokers have upgraded their recommendations for Woolworths after the company reported a 13 per cent jump in net profit for the year, to $688 million.
Apart from petrol, the retailer's margins have improved due to strong cost cutting, particularly in distribution.
Woolworths is now forecasting growth of up to 15 per cent this year, despite increased competition from rival Coles Myer.
The All Ordinaries ended the day in positive territory -- up 27 points.
The ASX 200 found 26.
Shares in Australian engineering company, United Group Limited, have jumped after the company increased its profits by a third.
Market action from Friday.
EQUITIES
The fortunes of Australia's oil and resource companies are continuing to rise, buoyed by a sudden fall in the Australia dollar and world oil prices which have touched $US40 a barrel for the first time in more than a decade.
Rene Rivkin's once fabulous Midas touch has crumbled like the ash of one of his huge cigars.
Nearly $10 billion was wiped from Australian shares in the biggest sell-off in 14 months yesterday after China unnerved global financial markets with moves to cool its economy.
Over done now in my opinion.
