Australian Markets

Australian Markets News - Daily news about the companies listed on the Australian Sharemarket (ASX). Check the stock market news before starting your day trading!

NewsCorp Profits in the First Quarter

Global media conglomerate, NewsCorp (ASX:NWS) have posted a profit for their first quarter (Q1) of 2010/11 financial year of $US775 million ($A777.49 million) for the three months to September 30, 2010, up 36 per cent from $US571 million ($A572.83 million) in the prior corresponding period, NewsCorp said in a statement on Thursday.

CSR Back in Profit

CSR (ASX:CSR) has seen its books return back to profit, reporting a net profit in the half year to September 30 of $63 million, compared to a $155.6 million loss in the previous corresponding period last year.

Chi-X Australia to rival the ASX

Chi-X is poised to rival the Australian Securities Exchange (ASX:ASX), providing a low cost alternative to the traditional trading model provided by the ASX. Chi-X is a global provider of market infrastructure technologies and trading venues, is preparing to introduce its high-speed, low-cost, intelligent trading model to the Australian market.

Australian Dollar and Billabong AGM

The strong Aussie dollar and a weak order book means Billabong (ASX:BBG) will have its company's earnings remain flat for the current financial year.

ASX - SGX Merger Announcement

Aussie stockmarket, Australian Securities Exchange (ASX:ASX) have announced a merger with the Singapore stock exchange (SGX) on Monday, igniting the share price, closing at $41.75, adding $6.79 or 19.4 percent higher after the trading halt. This merger is a foreign takeover of what is currently our monopoly equities and derivatives trading platform.

Packer Buys into Media: Network Ten

Billionaire media mogul, James Packer bought into Ten Network (ASX:TEN) in a share raid, picking up 15.6 percent or $250 million worth of the media company's shares. The purchase was made through a Packer family private company Prime Capital, a subsidiary of his private company Consolidated Press Holdings. There is a rumour that Packer be pushing for a 20 per cent stake, a move that will allow him to seek board representation at the network.

Tabcorp Plans an Operational Stock Split

Australian gaming company, TabCorp (ASX:TAH) is planning to split its stocks into two: separating its company into two parts – its casino business and its wagering, gaming and Keno enterprise. From July next year, the two separate entities will be listed on the Australian Securities Exchange. The company hopes to raise $430 million to redevelop its casinos and lure punters away from Crown.

RIO and BHP Deal Not Accepted by Regulators

International mining conglomerates, BHP Billiton (ASX:BHP) and Rio Tinto (ASX:RIO), the world's No. 1 and No. 3 mining companies abandoned a plan on Monday, to create the largest iron-ore exporter after regulators from Europe to Asia were concerned it would limit competition.

Santos Capital Raising

Petroleum and Gas company, Santos (ASX:STO) seeking a capital raising, has raised an additional €300 million in its European hybrid issue. The company’s upsized issue totals €1 billion as Santos previously raised €700 million last month from a European hybrid issue through UBS and Deutsche Bank.

Strong Aussie Dollar Can Cut CSL Profits

A strong Aussie dollar can cut into blood products and vaccines producer, CSL (ASX:CSL) by $100 million. At its Annual General Meeting (AGM) on Wednesday, the company reaffirmed its August forecast of fiscal 2011 net profit of between A$980 million and A$1.03 billion, at 2009/2010 exchange rates (at around US 90 cents). 90 percent of CSL's profits are generated offshore.

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