Australian shares ended a wildly volatile day 0.7% lower, as investors ignored an expected approval by the US Senate of the $US700 billion financial-rescue package and instead focused on a vote in the House of Representatives on the matter, which is expected on Friday US time.
Zinc producer CBH Resources was up 0.6 cents at 7.9 cents as it launched a hostile $60 million takeover for Perilya just over two months after the companies terminated a friendly merger. Perilya soared 4.5 cents to 31.5 cents.
Cape Lambert Iron Ore jumped 10.5 cents to 46 cents as its second largest shareholder, Power United, said removing the iron ore explorer's incumbent board was the only way to review its controversial decision to invest in a project in Sierra Leone.
more...
0 comments:
Post a Comment