Sharemarket and Market Trading News

Arrow Energy (AOE), one of the renowned coal seam gas producer and explorer of Australia with a current market capitalisation of over AUS$2 billion with resources in south and central Queensland and northern New South Wales was at the number winning company of the 10th week in ASX100 with a gain of 49.4 percent or $1.72 to its stock price closing the week at $5.20 (market capitalisation $3808.4 million).

Oroton (ORL), an upmarket Australian fashion house, has found that even during the global financial crisis, women were still in the market for pricey upmarket handbags and accessories. Sally Macdonald, the Oroton Chief Executive joined Oroton Group in September 2006 when the company reported a $9.4 million loss a result of high costs, underperforming brands and a string of dud acquisition deals under the leadership of controlling shareholders the Lane family.

The rivals of Telstra (TLS), are now stepping up their campaign on the independent senator of Victoria Steve Fielding in an attempt to convince him to change his stance regarding the Telstra bill. They are looking forward to see Mr. Fielding backing the bill before the senate. Chief executives of Macquarie Telecom, TransAct, Optus and Primus have communicated with the Senator and claimed that the legislation have revealed the fact that Telstra is currently posing threat to the industry.