12 November 2003 12:10
Summary of AAP Finance Wire at 1451 AEDT, Wed, Nov 12
SYDNEY - The Australian share market shook off a shaky start and was firmer to noon thanks to a recovery in the
banking sector. SYDNEY - The Australian dollar was trading almost steady and in a narrow range range at noon, affected
by a public holiday in the United States. MELBOURNE - Spotless Group Ltd chairman Brian Blythe said today that the
services company's trading results for the first half of 2003/04 will be negatively influenced by the strength of
the Australian dollar. SYDNEY - Spotless Ltd managing director and chairman Brian Blythe today called on the Australian
Stock Exchange (ASX) to identify the Committee that set outs its corporate governance guidelines. SYDNEY - Construction
and real estate group Lend Lease Corporation Ltd said today it was comfortable with market consensus forecasts of $230
million in post-tax operating profit for 2004. SYDNEY - Insurance Australia Group said today its view on organic growth
for financial year 2003/04 continues to be seven to nine per cent for the combined business. MELBOURNE - BHP Steel Ltd
said today the first half earnings from its North Star Joint Venture would be substantially lower than the same period
last year. MELBOURNE - BHP Steel Ltd chairman Graham Kraehe said today the company was interested in increasing its
stake in the North Star steel joint venture. SYDNEY - Foster's Group Ltd spin-off ALE Property Group today listed
on the Australian Stock Exchange at a small premium to the issue price of units in the trust. SYDNEY - The surprise rise
in interest rates pushed Australian consumer sentiment down a notch in November after hitting nine year highs the
previous month. SYDNEY - Tasmanian salmon producer Tassal Group Ltd today returned to the Australian Stock Exchange,
listing at a premium to its issue price. SYDNEY - Montec International Ltd today made a solid debut on the Australian
Stock Exchange, listing steady with its issue price. PERTH - Henry Walker Eltin said today it has been awarded a
six-year mining services contract by Ashton Coal Operations at its greenfields coal mine in the Hunter Valley, New South
Wales. SYDNEY - Salary increases throughout the Asia Pacific are at low levels and are expected to remain marginal,
according to a survey. SYDNEY - The Canon Australia Group today posted revenue growth of 9.4 per cent for the third
quarter. SYDNEY - AV Jennings Homes Ltd today said it held sufficient project housing sales and presales of its
development products for a satisfactory second half. SYDNEY - BHP Billiton said today its first appraisal well on the
Shenzi field encountered approximately 500 feet of net oil pay in a 1,2500 foot gross hydrocarbon column. SYDNEY - The
surprise rise in interest rates pushed Australian consumer sentiment down a notch in November after hitting nine year
highs the previous month. SYDNEY - Banks could struggle to make up for a slowdown in mortgage growth by increasing loans
to businesses, according to financial services group KPMG. MELBOURNE - Spotless Group Ltd chairman Brian Blythe said
today that the services company's trading results for the first half of 2003/04 will be negatively influenced by
the strength of the Australian dollar. SYDNEY - Spotless Ltd managing director and chairman Brian Blythe today called on
the Australian Stock Exchange (ASX) to identify the Committee that set outs its corporate governance guidelines. SYDNEY
- Specialist media company Television & Media Services Ltd today said its aggressive debt reduction program put it
in a better financial position to manage new challenges. SYDNEY - Macquarie Airports (MAp) has entered into an agreement
to acquire an additional 4.96 per cent of Southern Cross Airport Corporation Holdings (SCACH), the holding company for
Sydney Airport, from Hochtief Airport. SYDNEY - The Commonwealth Bank today said an $A200 million domestic Medium Term
Note (MTN) had been issued for Bank NederlandsE Gemeenten NV (BNG). SYDNEY - Total hourly rates of pay, excluding
bonuses, rose 1.0 per cent in the three months ending September 2003, seasonally adjusted, the Australian Bureau of
Statistics said. SYDNEY - Wages growth of 1.0 per cent in the three months to September was unlikely to alter inflation
levels but could put upward pressure on wage and labour costs in coming quarters, according to economists. SYDNEY -
Australia lags behind India, the Philippines and China on the issue of pay rises, with some local companies continuing
to project pay freezes, according to a survey. SYDNEY - Corporate Express Australia Ltd today revised down its forecast
2003 net profit after tax. SYDNEY - A surprise rise in interest rates pushed Australian consumer sentiment down a notch
in November from nine year highs in October. CANBERRA - Federal Treasurer Peter Costello today attacked suggestions by a
Labor frontbencher that the government consider wealth taxes and debt financing. CANBERRA - Defence and security would
be the priorities in next year's Budget, Treasurer Peter Costello said today. CANBERRA - Labor's Budget
priorities would be education and health as well as tax cuts, opposition treasury spokesman Mark Latham said today.
CANBERRA - Banks should cut fees and charges as they continue to rake in massive profits, Labor's treasury
spokesman Mark Latham said today. SYDNEY - Investigators may reportedly try to have French terror suspect Willie
Brigitte returned to Australia for prosecution. SYDNEY - The Victorian gambling regulator has reportedly cleared Kerry
Packer's Consolidated Press Holdings over allegations made against a CPH subsidiary in Italy. ADELAIDE - Australian
built cars have scored well in the latest crash test results, but still can't match the best in the world.
MELBOURNE - Thirteen people were taken to hospital this morning after an accident involving two trains at
Melbourne's Spencer Street station, Metropolitan Ambulance said. CANBERRA - Identity fraud is a growing threat that
is costing Australia more than $1 billion a year, according to a federal government report. MELBOURNE - The completion
of the Adelaide-to-Darwin rail link was already opening up the Northern Territory to billion-dollar investment
opportunities, Chief Minister Clare Martin told a Melbourne business breakfast today. CANBERRA - Wages growth picked up
in the three months to September as the jobless rate tumbled, new figures showed today. CANBERRA - Information and
communication technology (ICT) skilled jobs have been cut from the federal government's list of high-demand jobs
for potential migrants. CANBERRA - Business leaders would think again if they faced jail terms of engaging in cartel
activity, the head of the nation's competition watchdog said today. WELLINGTON - Air New Zealand's board will
decide later this week if it will appeal the New Zealand competition watchdog's decision to reject the
airline's proposed alliance with Qantas Airways Ltd. WELLINGTON - Good economic news continued to pour in with
September quarter retail sales numbers coming out today above forecasts at 2.0 percent ahead for the quarter. WELLINGTON
- Whiteware manufacturer Fisher & Paykel Appliances (F&P) improved its net profit by 3 percent to $NZ35 million
for the six months ended September. NEW YORK - EchoStar Communications Corp shares fell almost 13 percent to a
five-month low on Tuesday after the No. 2 U.S. satellite broadcaster posted slower-than-expected subscriber growth at
its Dish Network service and warned it would not have a strong holiday season. WASHINGTON - Mired in a complicated,
unfinished mission in Iraq, President George W Bush paused on Veterans Day to reflect on the sacrifices of 140,000 US
soldiers in Iraq and Afghanistan and to honour soldiers of past wars. MOSCOW - A Moscow court today turned down an
appeal by Russian oil tycoon Mikhail Khodorkovsky's to be released from jail pending trial on tax evasion and fraud
charges. LONDON - A controversy centred on claims that Prince Charles was involved in a sexual incident with a royal
servant provoked accusations of censorship today after WASHINGTON - The US Congress today overwhelmingly approved tough
new sanctions on Syria for its alleged ties to militant extremists and purported efforts to obtain nuclear, biological
and chemical weapons. AAP
[AIW [Asia Africa Intelligence Wire]] |
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