daytrade diaries... august 31 part 2, page-3

The Australian share market was relatively flat at noon as losses in the major miners and other large stocks such as Telstra offset gains in the financial sector.

All Ordinaries index had fallen 6.5 points, or 0.14 per cent, to 4489.54 points.

Some analysts are saying "We're seeing some money flowing out of BHP, Telstra, Woodside and profit-taking in Woolworths, and we're really being held up by the banks and gold producers."

Paper manufacturer PaperlinX Ltd (PPX) has posted a big $798.2 million loss for the year and will not pay a final dividend as a result of unprecedented deterioration in global paper demand. The loss compares to a profit of $72.2 million in fiscal 2008.The result was impacted by $727.9 million in significant items, including impairment charges and a loss on the sale of its Australian paper business.

Resource company Felix Resources Ltd (FLX) has reported a 42 per cent increase in net profit for the year.Net profit for the year to June 30 came to $267.6 million, up from $188.5 million the year before. The company says attributable sales tonnage rose 3 per cent to 4.77 million tonnes over the fiscal 2008 tonnage. Felix says all of its mines performed to expectation during the year.

The best performing sector at midday is the Real Estate Investment Trust index up 8 points to 877. Shares in Mirvac Group up 3.89 per cent at $1.47. Shares in CFS Retail Property Trust and Westfield Group are also stronger at noon.

The worst performing sector at midday is the Telco Services index, down 21 points at 1,153. Shares in Telecom of New Zealand down 4.78 per cent to $2.19. Shares in Telstra and Macquarie Telecom Group are also lower.

Gold is currently trading at $957.30 US an ounce and the Aussie dollar is trading at 84.15 US cents.


CAA-Once the selling dries out reckon it still has a 10c techno target to reach for main platform creation for later.
Shares on Issue 389,262,072
Market Cap ($) 66,174,552
Asset Backing (cents per share) 20
Price To Assets 0.85c

http://www.marketwatch.com/
http://www.thebull.com.au/
http://www.news.com.au/business/

Did you know?

On the Occult
- If astrology worked, all astrologers would be rich.
- A superstition need not be exorcised. It can be enjoyed, provided it is kept in its place.