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Midday market wrap: Australian shares tumble in early trade

Australian shares were trading lower Thursday morning, following losses overnight in US markets. US indexes were dragged lower in response to the earlier sharp rise in bond yields and disappointing earnings reports from Ford Motor Corporation and Lucent ...

POF advises unitholders of alternative takeover proposal

WITH AAP  |  THURSDAY, 17 JUL 2003
Principal Office Fund (POF) today advised unitholders of its alternative proposal to the hostile $1.5 billion takeover bid from Investa Property Group. In a letter to unitholders, Principal said its alternative proposal is set out in a Third Supplementary ...

Midday market wrap: Australian bonds hammered

The Australian bond market was sharply weaker Wednesday morning, following overnight Congressional testimony by US Federal Reserve chairman Alan Greenspan. Despite pledging to maintain the fed funds rate at low levels 'for a considerable time', bond ...

S&P announces addition to the S&P/ASX Indices

Standard & Poor's announced it has made an addition to the S&P/ASX 200 Index, as a result of United Energy Ltd's removal from the Indices yesterday. As of 22 July 2003, Amity Oil Ltd (AYO) will be added to the Index. In a statement released to the market ...

Midday market wrap: Australian shares modestly higher

The Australian share market opened modestly higher, following another night of strong gains in US markets. At midday, the All Ordinaries index was 7.9 points higher at 3,061.3. The major banks all posted good advances in morning trade, while News Corporation ...

Afternoon market wrap: shares quiet in late trade

The Australian share market traded quietly in the afternoon session, with the All Ordinaries eventually finishing 7.6 points higher at 3,061.0. The advance was led by the banking and resources sectors, and followed gains overnight in US and European ...

Afternoon market wrap: Stocks end square

The Australian share market clawed back early losses to end the day broadly square, and despite sharp losses overnight on US exchanges. The late rally was led by the major banks, all of which finished up on the day. But News Corporation, BHP and Rio ...

Afternoon market wrap: Shares up, Australian dollar down

AAP  |  THURSDAY, 10 JUL 2003
The Australian share market strengthened modestly in afternoon trade, the All Ordinaries eventually closing 14.4 points higher at 3,022.7. Cyclical stocks, especially resources and media, continued to drag the market higher, while banks and property ...

Midday market wrap: Defensives drag local shares lower

AAP  |  WEDNESDAY, 9 JUL 2003
The Australian share market moved lower in Wednesday morning trade, as investors continued to exit bank stocks and utilities and head towards more cyclically sensitive alternatives. The financial sector lost one percent in early trade, with Westpac ...

POF reiterates rejection of Investa Properties takeover

Principal Office Fund has reiterated its rejection of Investa Properties Ltd's current takeover offer, after Investa yesterday declared its bid free from all defeating conditions. Principal said the offer undervalued the company and was highly conditional. ...