THIS MORNING
The second half of Wednesday's session saw buyers make some pact on the market, taking advantage of prices that were discounted over the course of the morning. The ASX 200 bottomed out late this morning when it was down by 60 points. By the end of trade this deficit had been wound in and the index ended with a loss of 23 points or 0.45%.
OVERNIGHT MARKETS
US Equities
The difference that allowed the market to turn around from session lows came down to the resource sector. At lunchtime the group was attempting to get traction and in the early afternoon this initiative succeeded, led by gains for BHP Billiton (BHP) whose shares rose to $29.39 a gain of 51 cents or 1.7 and supplemented by Rio Tinto (RIO) which ended at $56.40 a gain of 90 cents or 1.6%. While miners moved ahead, energy stocks remained by and large in the red. Santos (STO) gave up an early improvement to close $7.63 down 7 cents or 0.9%
In company news, energy infrastructure group APA Group (APA) announced the purchase of Queensland's QCLNG pipeline for $5.41 billion. APA will launch $1.839 billion capital raising to assist in the purchase of the pipeline which connects gas fields in the Surat Basin to the QCLNG project on Curtis Island near Gladstone.
The balance of the transaction will be funded by a $US4.1 billion debt facility. Additionally APA highlighted that it was on track to full year pre-tax earnings guidance of between $1.17 billion and $1.19 billion, excluding the impact of the pipeline acquisition. Management sees the acquisition as an avenue to leverage Queensland's growing LNG sector which will become a major exporter in 2015. APA shares were in a trading halt on Wednesday as the group conducted the share placement.
YESTERDAY'S MARKET
Local Markets Update.
This news story is reprinted from www.businessspectator.com.au
Read more details on accounting outsourcing service provider
The second half of Wednesday's session saw buyers make some pact on the market, taking advantage of prices that were discounted over the course of the morning. The ASX 200 bottomed out late this morning when it was down by 60 points. By the end of trade this deficit had been wound in and the index ended with a loss of 23 points or 0.45%.
OVERNIGHT MARKETS
US Equities
The difference that allowed the market to turn around from session lows came down to the resource sector. At lunchtime the group was attempting to get traction and in the early afternoon this initiative succeeded, led by gains for BHP Billiton (BHP) whose shares rose to $29.39 a gain of 51 cents or 1.7 and supplemented by Rio Tinto (RIO) which ended at $56.40 a gain of 90 cents or 1.6%. While miners moved ahead, energy stocks remained by and large in the red. Santos (STO) gave up an early improvement to close $7.63 down 7 cents or 0.9%
In company news, energy infrastructure group APA Group (APA) announced the purchase of Queensland's QCLNG pipeline for $5.41 billion. APA will launch $1.839 billion capital raising to assist in the purchase of the pipeline which connects gas fields in the Surat Basin to the QCLNG project on Curtis Island near Gladstone.
The balance of the transaction will be funded by a $US4.1 billion debt facility. Additionally APA highlighted that it was on track to full year pre-tax earnings guidance of between $1.17 billion and $1.19 billion, excluding the impact of the pipeline acquisition. Management sees the acquisition as an avenue to leverage Queensland's growing LNG sector which will become a major exporter in 2015. APA shares were in a trading halt on Wednesday as the group conducted the share placement.
YESTERDAY'S MARKET
Local Markets Update.
This news story is reprinted from www.businessspectator.com.au
Read more details on accounting outsourcing service provider
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