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General

Afternoon market wrap: AMP shares sink below $6.00 mark

The All Ordinaries recovered in trading this afternoon to post smaller losses than expected.

Morning market wrap: All Ordinaries under pressure

The All Ordinaries will come under pressure in early trade as investors react to another day of heavy losses on the world’s equity indices.

Westfield Trust buys Sydney Central Plaza for $390 million

Westfield Trust, Australia’s largest listed property trust, has bought Sydney Central Plaza from Coles Myer for $390 million, Coles Myer said today. The deal represents a record for sale for a retail property sale in Australia.

Afternoon market wrap: AMP, Commonwealth lead the All Ords lower

The All Ordinaries lost some territory in trading today, with AMP falling $0.21 to close at a new low of $6.30.

AMP in damage limitation mode after Moody's downgrade

AMP chief executive officer Andrew Mohl has moved to reassure investors that the future of the financial services giant remains sound despite today’s announcement from Moody’s that it has assigned a ‘negative outlook’ to its long term ratings

ASIC "disappointed" with fundraising non-disclosures

The Australian Securities and Investments Commission (ASIC) announced today that it had issued 51 interim stop orders and eight final stop orders on prospectuses or Offer Information Statement (OIS) since July 1 2002

Coles Myer and Westfield in record $390 million property deal

In a record sale for an Australian retail property, Coles Myer announced today that it had sold Sydney Central Plaza to Westfield Trust for $390 million.

Super fund returns at lowest since 1987: InTech

Australia’s growth oriented superannuation funds have recorded their worst 12-month returns since the 1987 stock market crash, according to research house InTech’s latest research.

Bearish investors have the edge on professional advisers: survey

Investors would be better off if they listened to their own advice instead of their financial advisers, a joint survey by Adviser Ratings and the Australian Investors Association (AIA) claimed today.

Merrill Lynch gets three star Aus equities rating: Morningstar

Merrill Lynch Investment Managers (MLIM) has been given a three star Australian equities rating by Morningstar, although future performance is likely to be hampered by the February departure of Steve Gliddon from the team, the ratings house said today.