5:30 PM Sydney – Market indexes in Australia gained for the fifth day in a row. The global markets rebound on Friday extended weeklong market advance in Australia, but in thin volume. The Australian government is set to raise as much as $5.5 billion through the public offering of Medibank.
Australian market indexes closed higher for the fifth day in a row.
In thin trading, market indexes extended gains today following the global markets rebound.
Australian dollar weakened to 87.74 U.S. cents and in stock-trading turnover dropped to 619 million shares worth $3.5 billion.
ASX 200 Index jumped 47.70 or 0.9% to 5,319.40 and broader All Ordinaries Index gained 47.25 to 5,307.32.
Investors also gleaned for details in the latest Medibank prospectus filing and the government is likely to raise as much as $5.5 billion through a public offering.
Australian Stock Movers
gained 1.5% to 34 cents after the mining company reported iron ore shipment in the September quarter soared to 3.45 million tons, more than from 0.29 million tons shipped in the last quarter.
tumbled 12.1% to 76.5 cents after the energy company lowered its EBITDA outlook for the year to between $150 million to $160 million and revenues of about $840 million compared to EBITDA of $173.7 million and revenue of $826.3 million a year ago period.
Downer EDI Limited
climbed 3.5% to $4.19 after the engineering company signed an agreement to acquire contractor Tenix Holdings Australia Private Limited for $300 million on a cash and debt free basis.
Transfield Services Limited
surged 26.7% to $1.90 after the infrastructure developer rejected buyout offer of $1.95 per share or approx $1 billion in cash from Spain-based building group Ferrovial Servicios, SA.