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Afternoon market wrap: AMP drags index lower

... to edge lower during the afternoon session, and was helped to a 9.10 point loss over the day as a whole by a 4.3% fall on AMP shares. The troubled insurance and financial services giant, no stranger to bad news of late, received more late on Tuesday ...

Standard & Poor's downgrades AMP's financial operations

Standard & Poor's (S&P) has announced downgrades to all of AMP's business units in the wake of its proposed demerger. AMP Life has been lowered to A+ from AA-; AMP Group Holdings and AMP Bank to BBB+ from A-; Pearl Assurance and National Provident Life ...

Centro hails Takeovers Panel victory on ART

Centro Properties has warmly welcomed a decision by the Takeovers Panel that will prevent AMP Life from exercising any pre-emptive rights over the interest held by AMP Shopping Centre Trust (ART) in five major shopping centres. The panel had ruled that ...

Midday market wrap: All Ordinaries gain slightly

The All Ordinaries gained 0.4 per cent in trading at lunch with a rise of 12.7 points to 2958.20. AMP shares fell 3.5% to $5.25, while Promina shares went into reverse gear, losing 0.5% or $0.01 to $1.97. Embattled wine maker Southcorp lost 2.9% or ...

Morning market wrap: Dow Jones at four-month high

... in London as the FTSE-100 moved back up towards the 4,000-point mark. Domestically investors will be keeping an eye on both AMP and Promina to see if yesterday's upward momentum can be repeated. All Ordinaries: 2945.50 (+0.00) Dow Jones: 8727.73 (+122.13) ...

Afternoon market wrap: All Ordinaries close higher

The All Ordinaries closed trading in positive territory by 6.6 points to finish at 2952.10. AMP shares continued the downward swing, losing 4.2 per cent of their value or $0.23 to $5.21. Winemaker Southcorp also lost 3.6% of it share value to close ...

Midday market wrap: Promina shows no stage fright on debut

... book-build set a price of $1.80 on the newly-listed insurance and financial services group. By lunch it was trading at $1.89. AMP also continued to find support from investors after a torrid week last week. It rose by $0.10 to climb to $5.38 during the ...

Morning market wrap: AMP remains in the spotlight

There will be a strong focus on AMP shares again this week ahead of what is likely to be a lively AGM on May 15. The stock rallied somewhat to finish at $5.28 on Friday and will have been buoyed by gains in the US and UK after the close of the Australian ...

Afternoon market wrap: Promina and AMP lead the index higher

... Ordinaries index finished the day 17.30 points higher after somewhat running out of steam during the afternoon session, but AMP and the newly-listed Promina group both enjoyed a strong start to the week. Promina finished at $1.98, well above the discounted ...

Midday market wrap: All Ordinaries falls, AMP rebounds

AMP shares rebounded to $5.13 at lunchtime after trading beneath $5.00 during the morning session. Takeover talk boosted shares in the Bank of Western Australia by almost 20% to $4.37, while the major banks were flat to softer. National was the biggest ...