The market is down 4. The SFE Futures were down 15 this morning.

Wall St. closed down 41. Dow was down 2 at best and down 94 at worst. Metals had a strong session but the Oil price fell $2.33 to $69.71. Gold also fell to $1005. The Aussie dropped to 86.34c versus 86.57c yesterday morning.

A bit quiet on the news front…

  • Talk of Stockland (SGP) launching a bid for GPT Group (GPT) has emerged again. SGP down 6c to 405c, GPT down 0.5c to 66.5c.
  • BHP talking up its pursuit of takeovers. It told The Wall Street Journal to expect something corporate action in the next year. Oz Minerals, Rio Tinto, Woodside and Alumina are all possible targets. BHP down 3c to 3805c.
  • United Group (UGL) will record a loss on two railcar manufacturing contracts in NSW after it was not successful in a dispute involving the state’s rail operator.
  • Premier Investments (PMV) said its FY net profit almost doubled to $82.7m from $41.8m. Revenue came in at $819.2m. Its underlying pretax profit was $108.1m, in line with expectations. It will pay a final dividend of 18c with a special dividend of 20c talking the total dividend for the year to 75c.
  • Babcock & Brown Infrastructure (BBI) said it will continue to asses a second refinancing proposal from a group of international hedge funds. BBI down 3.7%.
  • New Hope (NHC) announces a $1.95bn profit after selling its New Saraji asset. Profit excluding the sale more than doubled to $262.3m. It will pay a final dividend of 4.5c and a special dividend of 72.75c, with line with previous management comments. NHC up 11c to 1.9%.
  • Resolute Mining (RSG) in a trading halt. Last traded at 62c.]
  • Apex Minerals (AXM) in a trading halt. Last traded at 9.8c.
  • Talk of Royal Bank of Scotland Group raising $9bn to add to the ₤12.3bn raised last year in June.
  • The Reject Shop (TRS) goes 23c ex-dividend today. The stock is up 8.8% in the past quarter and up 22.6% in the past year.
  • Cabcharge (CAB) down 1.17% after it admitted to key allegations raised in its anti-competitive case.
  • Companies hitting fresh yearly highs today: ARB Corp (ARP), Centro Retail Group (CER), Centro Properties (CER), Customers (CUS), IRESS Market Technology (IRE), James Hardie (JHX) and Premier Investments (PMV).

The Dow Future are up 12 at midday.

MARCUS PADLEY is the author of the MARCUS TODAY Daily Stockmarket Newsletter.

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