daytrade diaries... december 17 part 2, page-3

Aussie shares are higher at midday reversing earlier losses led by gains in the materials and following news that NAB is to acquire AXA Asia Pacifics Australian and New Zealand businesses and strong support for Woodside Petroleums capital raising.

All Ordinaries had added 35 points, or 0.78 per cent, at 4,711.

According to data released by the ABS, Australias international merchandise imports fell 2% to $17.55 billion in November.

International industrial resins and specialties group Nuplex Industries Ltd (NPX) says it expects earnings before interest, tax, depreciation and amortisation of between NZ$110 - 120 million. This compares with previous guidance of between NZ$100 - 110 million. Managing director John Hirst says that while demand remains significantly below the peak in financial year 2007/2008, it has generally recovered from the low point of last financial year and gives every sign of a gradual improvement into the foreseeable future. Mr Hirst says Asia remains the stand-out region in terms of growth in both volume sales and profit. Nuplex Industries shares added 5.77 per cent to $2.20.

Woodside Petroleum Ltd (WPL)says it has found "overwhelming support" from institutions for a capital raising, generating $1.7 billion in commitments in the institutional component of the process.

Woodside told the Australian stock exchange on Thursday that more than 93 per cent of eligible institutional shareholders had taken up their entitlements in the 1-for-12 offer, it said.

"The Institutional Entitlement Offer ... will raise gross proceeds of approximately $1.7 billion at $42.10 per new share and received overwhelming support from existing institutional shareholders," Woodside said in a statement.
The best performing sector at midday is the Materials index, up 151 points at 12,357.

The only sector in the red at midday is the Consumer Staples index, down 25 to 7,502.

Gold is trading at US$1,142.15 an ounce and the Aussie dollar is trading at 90.04 US cents.

MHL: Got in .007 yesterday and sold today .009
PPT: Sold Overnight kept
WPL:Bounce trades with small profit twice

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

Risks You Should Be Aware Of

Equity specific asset risk risks associated with the specific investment, for example, quality of the company's directors; the strength of management and key personnel; profitability and asset base; debt level and fixed-cost structure; litigation; competition levels; liquidity of the investment.