Market wrap 7 October 2008

October 8th, 2008 • Related • Filed Under

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The All Ordinaries Index ended the day 53.2 points higher to close at 4597.9, after the RBA decided to lower the cash rate by 100 basis points (1%) to 6.0%.

Commonwealth Bank of Australia (CBA) gained 2.6% to close at $45.15 after announcing the commencement of exclusive negotiations with HBOS plc for the acquisition of BankWest.

JB Hi-Fi (JBH) gained 7.6% to close at $11.95 after announcing better than expected earnings in the first quarter (FY09).

Major stock rises:

Stockland (SGP)

$5.70

+7.55%

West Australian Newspapers (WAN)

$9.06

+7.09%

BHP Billiton Limited (BHP)

$31.70

+6.41%

Tabcorp Holdings Limited (TAH)

$8.50

+5.46%

OZ Minerals Limited (OZL

$1.45

+5.43%

Major stock falls:

Babcock & Brown Ltd (BNB)

$1.30

-18.94%

Riversdale Mining Limited (RIV)

$6.61

-9.70%

Newcrest Mining Limited (NCM)

$24.25

-8.28%

Paladin Energy Ltd (PDN)

$3.28

-7.34%

Oil Search Ltd (OSH)

$4.73 

-7.25%

Please Note:

This publication has been prepared to provide you with general information only. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. In preparing this information, we did not take into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision, you need to consider (with or without the assistance of an adviser) whether this information is appropriate to your needs, objectives and circumstances. This information is provided for persons in Australia only and is not provided for the use of any person who is in any other country.

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