The market is up 23. The SFE Futures were up 37 this morning.

The Dow Jones closed up 95 overnight. The Nasdaq hit its highest level since December 2000. The Fed kept interest rates on hold and said it would end the $600bn bond buying QE2 stimulus program. The gold price rose to a new high above $US1520 an ounce on the Fed’s statement — its eighth record high in nine trading days. The Aussie dollar is now buying 109.18c, up from 107.84c yesterday morning.

Today’s main stories…

  • Computershare (CPU) says it will buy a US share services operation, The Bank of New York Mellon’s Shareowner Services Business, for $US550m ($A509.85m) cash. CPU said the business was the “largest acquisition in Computershare’s history” and provided Transfer Agency and Employee Equity Plan services to US publicly listed companies. JB Were says this is a positive deal for Computershare shareholders, bringing significant operational and strategic benefits. CPU up 7.7% to 962c.
  • Goodman Fielder (GFF) has downgraded its full year profit guidance after a “soft” 3rd quarter but says the outlook for the final quarter looks promising. GFF down 9.1% 106c.
  • BHP Billiton (BHP) CEO Marius Kloppers says that Australia’s export prices could stay at stratospheric levels for another 2 years even if the Chinese economy slows. He said the supply of new iron ore mines could not keep up with Chinese imports, which had grown at 16% for the past 7 years. BHP up 0.5% to 4666c.
  • MAp Airports (MAP) reported first quarter results for Brussels airport and have now reported Q1 results for all 3 of its airports. Brussels traffic growth was strong, up 6.7% in the quarter, and revenue rose 4.1% while costs fell.  MAP unchanged at 297c.
  • Valad Property Group (VPG) has entered a trading halt and said they are “in discussions with a third party in relation to a material transaction regarding the whole of the Valad business”. Valad’s MD Peter Hurley recently departed after the sale of its European business fell over. VPG last traded at 116c.
  • Oil Search (OSH) has reported a 4% fall in production in the first quarter from the December quarter. Operating revenue was down 7%, while the average price received for its oil was up 22% to $US108.58. OSH maintained its full year production guidance.  OSH up 1% to 726c.
  • Telstra (TLS) has secured the online rights to broadcast AFL matches from 2012-2016 for about $100m. This compares to Seven network & Foxtel who will together pay over $1 billion for television rights. Online rights will become more valuable as the national broadband network brings high-speed internet into homes. TLS up 5c to 289c.

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