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At midday the S&P/ASX200 index was up 18 points, while the All Ordinaries added 23.
In US trading on Thursday, Wall Street made a partial recovery from Wednesday’s sharp losses. The market was lifted by better than expected sales figures from retail heavyweight WalMart, and by Dow Chemical’s $15 billion takeover agreement with rival Rohm and Haas.
The Dow Jones closed up 81 points, while the Nasdaq composite added 22.
In Asian trading today, Japan’s Nikkei was down 55 points at midday, while Hong Kong’s Hang Seng slipped 21.
In ASX news this morning, National Australia Bank confirmed that it’s in talks to buy investment bank ABN AMRO’s Australian and New Zealand operations, which are being sold off following its parent company’s takeover by Bank of Scotland late last year.
However NAB cautioned that there was no certainty of a transaction resulting from the talks. Separately the bank also said it was to issue almost 35 million shares through a dividend reinvestment plan, and that it might have to make additional provisions for its $1.1 billion collateral debt exposure.
In other news, Queensland Gas today raised its takeover offer for oil and gas explorer Roma Energy, following a rival bid for the company by fellow explorer Bow Energy.
Queensland Gas upped its initial bid by a cent, and is now offering 11 cents and 0.0177 shares for every Roma share held. The company has also declared its offer unconditional. Shares in Queensland Gas rose more than six per cent this morning.
Finally, energy major AGL today said that it is to invest $37 million in coal seam gas exploration in Queensland, under a farm-in agreement with explorer Galilee Energy.
AGL said that it’s to partner Galilee Energy in a CSG production-pilot, exploration and appraisal programme in the Galilee Basin, and that the two companies have also entered into a 10-year gas marketing agreement.
In individual share price movements on the ASX earlier today resource stocks led the market. At midday BHP Billiton was up $1.24, Fortescue Metals gained 36 cents, Rio Tinto put on $3.15 while Woodside Petroleum added $2.25.
The major banks all went the other way in morning trade though. At noon ANZ was down 28 cents, Commonwealth Bank fell 37, National Australia Bank shed 73 cents, while Westpac lost 22.
Other blue chips were also mostly negative at midday. AMP was down 11 cents, News Corp lost 13, Telstra was the exception adding four cents, while Woolworths lost 34.
In US trading on Thursday, Wall Street made a partial recovery from Wednesday’s sharp losses. The market was lifted by better than expected sales figures from retail heavyweight WalMart, and by Dow Chemical’s $15 billion takeover agreement with rival Rohm and Haas.
The Dow Jones closed up 81 points, while the Nasdaq composite added 22.
In Asian trading today, Japan’s Nikkei was down 55 points at midday, while Hong Kong’s Hang Seng slipped 21.
In ASX news this morning, National Australia Bank confirmed that it’s in talks to buy investment bank ABN AMRO’s Australian and New Zealand operations, which are being sold off following its parent company’s takeover by Bank of Scotland late last year.
However NAB cautioned that there was no certainty of a transaction resulting from the talks. Separately the bank also said it was to issue almost 35 million shares through a dividend reinvestment plan, and that it might have to make additional provisions for its $1.1 billion collateral debt exposure.
In other news, Queensland Gas today raised its takeover offer for oil and gas explorer Roma Energy, following a rival bid for the company by fellow explorer Bow Energy.
Queensland Gas upped its initial bid by a cent, and is now offering 11 cents and 0.0177 shares for every Roma share held. The company has also declared its offer unconditional. Shares in Queensland Gas rose more than six per cent this morning.
Finally, energy major AGL today said that it is to invest $37 million in coal seam gas exploration in Queensland, under a farm-in agreement with explorer Galilee Energy.
AGL said that it’s to partner Galilee Energy in a CSG production-pilot, exploration and appraisal programme in the Galilee Basin, and that the two companies have also entered into a 10-year gas marketing agreement.
In individual share price movements on the ASX earlier today resource stocks led the market. At midday BHP Billiton was up $1.24, Fortescue Metals gained 36 cents, Rio Tinto put on $3.15 while Woodside Petroleum added $2.25.
The major banks all went the other way in morning trade though. At noon ANZ was down 28 cents, Commonwealth Bank fell 37, National Australia Bank shed 73 cents, while Westpac lost 22.
Other blue chips were also mostly negative at midday. AMP was down 11 cents, News Corp lost 13, Telstra was the exception adding four cents, while Woolworths lost 34.
