The market is down 19. The SFE Futures were down 8 this morning.

Wall Street closed down 7 overnight. The big news was the US Senate implementing the biggest financial regulatory change of Wall Street since the Great Depression. The legislation is 2,300 pages long and will be sent to President Barack Obama to sign next week. Goldman Sachs also had a strong finish to the session after agreeing to pay $550m and change their business practices to settle SEC actions. The oil price fell 77c to $76.27c. Gold put on $1.20 to $1208.20 and the Aussie dollar fell slightly to 88.18c from 88.38c yesterday morning. Google down 4% in after hours trade on results.

Main news…

  • There is a chance that the takeover offer for Healthscope (HSP) could be pulled after one of the three member syndicate, Blackstone Capital, withdrew its interest. HSP up 1c to 467c
  • Riversdale Mining (RIV) announced a $337m entitlement offer and share placement after the close of market yesterday. They want to accelerate the development of the Benga coal project in Mozambique. They will issue new shares at 940c a share. RIV last traded at 1030c.
  • CSL Ltd (CSL) announced they will build a $235m biotechnology facility at their existing manufacturing site in Melbourne. The investment will be spread over 4-5 years. CSL down 4c to 3276c.
  • Oz Minerals (OZL) has released their quarterly production numbers. They are on schedule to meet FY copper production guidance and upped their FY gold guidance after strong performance in the previous quarter. They now expect output of 140,000-150,000 ounces, up from 110,000-120,000. OZL up 4c to 115.5c.
  • National Australia Bank (NAB) says they are in talks with AXA and their major shareholder AXA SA to extend the period for NAB to satisfy concerns raised by the ACCC over their $13.3bn takeover offer. NAB up 16c to 2467c and AXA down 5c to 530c.
  • Spark Infrastructure (SKI) has won a contract from NBN to construct an optical fibre network in Willunga, SA. SKI down 3c to 121.5c.
  • Sandfire Resources (SFR) in a Trading Halt. Last traded at 440c a share.
  • David Jones (DJS) has signed a 20 year lease agreement for its Karrinyup store in Perth. DJS up 2c to 468c.
  • Geodynamics (GDY) up 7% to 53c after saying they are moving closer to creating an operating heat exchanger and validating model for its JV with Origin Energy.
  • Stock hitting fresh yearly highs today include: Adelaide Brighton (ABC), Amcor (AMC) and Integra Mining (IGR). Stocks hitting fresh lows include Nufarm (NUF) and Cabcharge (CAB)

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