The Australian stocks market was slightly lower in early trade, while Wall Street delivered a flat lead overnight. Yesterday the local market posted a strong gain of 1.2 per cent, led by materials and energy stocks.
The Australian share market opened slightly lower on Wednesday with weakness in financial stocks. Wall Street has provided a flat lead to the local market. Mining stocks were mixed while commodities prices were firmer. Gold miners gained after gold price hit a record high overnight in London and New York.
The Australian share market today started with a modest drop at opening while the US and UK markets closed overnight for public holidays. The local market could be driven by the economic data due out today, particularly the Reserve Bank of Australia's decision on official interest rates.
iSOFT Group Limited (ASX:ISF), Australia's largest listed health information technology company today announced the appointment of Dr. James (Jim) Fox as Deputy Chairman. This decision affirms the Board's commitment to the continual process of review and development of the Company's overall corporate governance position and the composition of the Board.
Singapore-based low-cost airline Tiger Airways (SIN:J7X) booked S$28.2 million net profit for the fiscal year ended March 31 2010, representing a S$75.7 million turnaround from a net loss of S$50.8 million in previous year. The strong annual result was supported by a 28.6 per cent revenue growth and a 53.8 per cent increase in passenger numbers.
Australian shares opened stronger this morning on bargain hunting, despite Wall Street overnight fell on worries over the effectiveness of the bailout plan for eurozone and fears over China's further move to tighten monetary policy. Yesterday China's data showing that inflation in the country is rising prompted declines in most Asian markets.
Virgin Blue Holidngs (ASX:VBA) and Air New Zealand (NZE:AIR) confirmed that the two carriers have been in ongoing discussions for several months regarding commercial cooperation on Trans Tasman markets, but no agreement has been reached.
