Shares in Linc Energy Ltd (ASX:LNC) have been placed in trading halt, pending the announcement of an update on the status of its sale of Australian coal tenements.
Sydney, June 22, 2009 AEST (ABN Newswire) - US stocks closed mixed on Friday with a fall in Dow Jones Industrial Average and rises in Nasdaq and S&P 500 index. All three indexes ended lower for the week. The Dow lost or 3% for the five days, its first weekly loss in over a month.
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.
Key Economic Facts and Figures
The KPMG annual survey of mid-sized Australian private companies said more than half of all the firms in the survey had laid off staff in the previous six months, 27 per cent of firms were asking employees to take long-service leave, 50 per cent had requested workers take annual leave and 20 per cent asked staff to work reduced hours.
The Australian Bureau of Statistics (ABS) Monday releases data on new motor vehicle sales in May.
M&A News
National Australia Bank (ASX:NAB) has acquired Aviva Australia Holdings' wealth management business including its Navigator life insurance operations and investment platform for A$825 million. The purchase is expected to add to earnings per share and return on equity in its first full year after acquisition, excluding estimated integration costs, the bank said in a statement. Aviva Australia Holdings, U.K. insurer Aviva's (LON:AV) Australian assets, will pay a A$40 million dividend ahead of completion of the transaction.
Energy Developments Ltd. (ASX:ENE) Monday said it has received a GBP135 million takeover offer including debt for its U.K and French landfill gas power generation assets. Energy Developments said the offer was received from "an international infrastructure specialist fund manager". The offer is conditional on due diligence, documentation and investment committee approval.
Important Corporate News
Ports and rail operator Asciano Ltd's (ASX:AIO) chief executive Mark Rowsthorn said he can't yet say whether he will fully participate in the company's A$2.35 billion rights issue. The placement will allow Asciano to repay the bulk of a A$2.8 billion loan due to expire next year and reduce its overall borrowings to less than A$3 billion.
Biotechnology company Acrux (ASX:ACR) has signed a marketing and distribution deal for its spray-on treatment for menopausal women, Ellavie, with pharmaceutical company Vifor Pharma owned by Swiss-based Galenica Group (SWF:GALN). Acrux is expected to unveil its first distribution deal for Ellavie in the key European market today.
Santos (ASX:STO) today said that the PNG LNG Project participants have reached alignment on commercial terms with three major LNG buyers in Asian region for sales of approximately 4.3 million tonnes per annum. PNG LNG participants include ExxonMobil(NYSE:XOM), Oil Search (ASX:OSH), Santos, Nippon Oil (TYO:5001), Minerals Resources Development Company, and Eda Oil Limited.
Shares in Linc Energy Ltd (ASX:LNC) have been placed in trading halt, pending the announcement of an update on the status of its sale of Australian coal tenements.
Contact
Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net
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