daytrade diaries... september 25 part 2, page-5

The Australian share market was almost half per cent lower at noon, dragged down by weaker commodities prices.

All Ordinaries fell 20 points, or 0.44 per cent, to 4688.

Some analysts are saying "We're seeing quite a lot of selling. The market was a little nervous,"

Retailer and brand manager OrotonGroup Ltd (ORL) has reported a 16.1 per cent increase in full year net profit today. Net profit for the 12 months to July 25 came to $19.4 million up from $16.7 million the year before. Revenue rose 10.6 per cent to $135.6 million compared to $122.6 million with sales at stores open more than a year up 8 per cent from last year.

Commercial television provider Ten Network Holdings Ltd (TEN) says major shareholder Canwest Global Communications Corp has completed the sell-down of its 50.06 per cent interest in Ten. Ten says Macquarie Capital Advisers underwrote and managed the sale to a broad range of institutional and sophisticated investors at a $1.30 a share.

This represents a discount of 5 per cent to the closing price of Ten shares before it went into a halt on September 24 of $1.365. Settlement of the transactions is expected to occur on October 1.

Global miner Rio Tinto Ltd (RIO) says it will rebuild a smelter furnace at its Kennecott Utah Copper operation in the U.S. Rio says the rebuild is scheduled for October 2009 and May 2010.

The miner says the Kennecott Utah Copper operation is the second largest copper producer in the U.S. and also has valuable gold, molybdenum and silver streams.
Majority of sectors are in the red at midday, however the best performing sector is the Telco Services index which is steady at to 1,124. Shares in SP Telemedia advanced 2.68 per cent to $1.15. Shares in Pipe Networks and Reverse Corp are also higher at noon.

The worst performing sector at midday is the Materials index, down 227 points at 11,203. Shares in Arafura Resources lost 7.79 per cent to $1.065. Shares in Extract Resources and Cudeco are also lower.

Gold is trading at $996.45 US an ounce and the Aussie dollar is trading at 86.36 US cents.


25 September

UK Bus Investment Final, 2Q
US Durable Goods, Aug
US Fed Gov Warsh's speech
US G20 meeting concludes in Pittsburgh
US New Home Sales, Aug
US University of Mich Consumer Confidence, Sept

AEC Ex-Div. 10c
FUT Annual General Meeting (12:30 PM)
GRT Ex-Div. 2c
HTM Annual General Meeting (09:00 AM)
IDL Ex-Div. 1c
LYL Ex-Div. 20c
MMZ EGM (01:00 PM)
MSL Ex-Div. 4.25c
REX Annual General Meeting

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

Did you know?

Look at risk before profit when entering positions - It is well understood that profitable day traders will look at the loss potential of a trade before they look at how much they can profit from a trade.