Australian Market Overview July 8th 2011
- Updated: 02 April 2012
- Published: 06 July 2011
- Australia's share market stalled amid a lack of buying interest, with investors staying on the sidelines before majorevents including Friday's US jobs data and the Australian Federal Government's carbon tax plans, due Sunday. The AllOrdinaries rose 2.4 points.
- The S&P/ASX 200 firmed half a point. BHP Billiton ($0.03) suspended port and rail operations at its key iron-ore exporthub of Port Hedland in Western Australia after a worker was crushed to death by a crane. Mesoblast ($0.12) said it hasreceived approval from US authorities to begin an advanced trial of a treatment that could boost the number of bonemarrow transplants for patients who cannot find a matched donor.ResMed (-$0.03) said it has bought Irish medicaltechnology company BiancaMed Ltd. for an undisclosed cash amount. Lynas (-$0.06) and Siemens Drive TechnologyDivision will establish a joint venture to produce rare earth magnets for Siemens to use in its energy efficient driveapplications and wind turbine generators. Elders ($0.03) could resume exports of live cattle to Indonesia in early Augustafter the Australian government lifted a suspension on the trade late Wednesday, Chief Executive Malcolm Jackmansaid.
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