Energy Developments Limited

Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) wishes to announce a number of changes to the Board and leadership team.

The Australian sharemarket extended last week's losing streak as latest report of China's growing manufacturing activity raised fears on a new round of credit tightening by the Chinese government. The S&P/ASX200 fell 45.5 points, or 1 per cent, to 4524.1, while the broader All Ordinaries index today lost 52.1 points, or 1.1 per cent, at 4544.8.

US stocks closed higher overnight as Dubai World said it was in discussions with banks to restructure US$26 billion in debt and the talks were proceeding on a constructive basis. Global markets strongly rebounded yesterday as investors realised that Dubai's trouble might be a regional problem.

Wall Street hit new highs for the year over optimism of the corporate earnings. The rise was led by Caterpillar as a broker said the company was among the best-positioned companies to benefit from improving global growth and spending on construction, infrastructure and commodities.

US stocks rose overnight as commodities prices jumped. Kraft Foods' US$16.7 billion takeover bid for Cadbury boosted the market confidence on a rebound in merger and acquisition activities, despite Kraft's offer was rejected.

Last Friday, the Australian shares ended higher for the first time in a week. The benchmark S&P/ASX200 index gained 7.5 points, or 0.19 per cent, to 3,899.6 points, and the broader All Ordinaries index advanced 7 points, or 0.18 per cent, at 3894.4 points.