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PIF announces $30 million placement

Prime Infrastructure (PIF) has announced the successful placement of 27.3 million stapled securities valued at $30 million, following a trading halt yesterday. The securities were made available to a broad range of investors at $1.10 per security. PIF ...

Midday market wrap: Australian shares up slightly

AAP  |  TUESDAY, 8 JUL 2003
Australian shares surged higher at the open, only to drift lower throughout the morning session. At midday the All Ordinaries index was 6.5 points higher at 3,011.9. In early trade the index briefly pierced the 3,035 level, as investors took heart from ...

Afternoon market wrap: Australian shares close higher

Australian shares closed the day higher, following strong gains overnight in the US. The All Ordinaries ended 13.7 points higher at 3,017.7, led by strong advances among the banks and the energy sector. The market was able to advance despite further ...

Midday market wrap: Dollar surges higher on unchanged rates

The Australian dollar jumped to its highest level in over five years, after the RBA today left short-term interest rates unchanged. Following the absence of any RBA announcement at 9.30am, the dollar surged almost half a US cent. In early afternoon ...

RBA leaves rates unchanged

The Reserve Bank of Australia (RBA) board has decided to leave interest rates unchanged at 4.75 per cent for the 13th consecutive month following its monthly meeting yesterday. The RBA last altered rates with a 25 basis point hike on June 5 2002. Over ...

Tower must seek shareholder approval for GPG capital-raising plan

WITH AAP  |  WEDNESDAY, 2 JUL 2003
Tower must seek shareholder approval if Guinness Peat Group (GPG) underwrites an alternative capital-raising plan, the New Zealand Exchange (NZX) said today. Yesterday, Tower announced a second proposal to raise $210.8 million after investors expressed ...

Farmers' Federation joins rate cut chorus

WITH AAP  |  TUESDAY, 1 JUL 2003
The National Farmers' Federation today became yet another industry group to call for an interest rate cut by the Reserve Bank of Australia (RBA), fearing current interest rates and their upward pressure on the Australian dollar would hurt farmers and ...

RBA board meeting brings mixed forecasts

WITH AAP  |  TUESDAY, 1 JUL 2003
Economists believe the Reserve Bank of Australia (RBA) board is unlikely to cut interest rates when it meets today for the first time since its American counterpart cut US rates to 1 per cent. HSBC economist Anthony Thompson predicted the Reserve would ...

Afternoon market wrap: Shares stronger in late trade

The Australian share market traded higher in afternoon trade, with the All Ordinaries ending the day 21 points higher at 3,018.0. Gains were broadly based, although the energy sector stood out with a 2.1% increase on the day. Oil Search and Santos were ...

S&P rates Mirvac securitisation program

Standard & Poor's Ratings Services today assigned its preliminary AA and A1-plus ratings to the medium-term notes (MTNs) and commercial paper (CP) to be issued by Mirvac Finance Ltd. S&P said that this transaction is among the first of its type in the ...