ASX on mixed leads: Downer EDI, OZL Minerals, MacArthur Coal, BHP, RIO
The Australian stock market is gathering mixed leads in today's trading day as the last-minute decline in the Wall Street trading will have some influence, but analysts are more optimistic.
The China and Japan's manufacturing output are expected to have both risen in the last quarter, which will have significant impact on inputs demand
The ASX/S&P200 index is expected to perform as an impact of the good manufacturing output numbers from China and Japan, who both acquire a large amount of manufacturing inputs from Australia.
On the ASX24 at 0631 AEDT, the December share price index contracted by 25 points to 4,675 points.
Copper futures in New York ended 1.4 percent higher for the December delivery at $3.785 a pound-the biggest gain so far since the metal price advanced in end-October.
Here are the companies that were actively traded this morning:
One of Australia's biggest comprehensive engineering and infrastructure management services provider Downer EDI (DOW AU) has won some $455-million in contracts across Australia after acquiring a $190-million passenger rail contract recently.
OZL Minerals Ltd (OZL AU) has received good feed back in its Prominent Hill project.
Shares of Resmed Inc. (RMD AU) dropped by 4.11 percent this morning as of 7:23 A.M.
MacAthur Coal Ltd (MCC AU) responded well to positive financial reports from officers indicating the coal production will end the year at profit sales and record level coal sales at 5.3 million tones after scaling back to full production
BHP Billiton Ltd. (BHP AU) rose 0.9 percent to A$42.30 in Sydney. Its American depositary receipts gained 0.9 percent in New York trading.
Rio Tinto Group (RIO AU), on the other hand, advanced 0.4 percent to A$82.99 in Sydney with the prospect of increasing capital costs in its Pilbara mining project in Westerm Australia.
Crude oil for December delivery rose 1.9 percent to $82.95 a barrel in New York.
Woodside Petroleum Ltd. (WPL AU), Australia's second- biggest oil and gas producer, rose 0.7 percent to A$43.79. Santos Ltd. (STO AU) climbed 0.7 percent to A$12.71.
National Australia Bank Ltd. (NAB AU) moves as Australia's largest lender targets to market seven-year bonds in pounds, according to a Bloomberg report.
Platinum Australia Ltd. (PLA AU) received a downgrade fro "neutral" to "underperform" by Macquarie Group Ltd.
Transpacific Industries Group Ltd. (TPI AU bid for the New South Wales Government's waste- management business WSN Environmental Solutions will soon be receiving funding as arranged by credtors.