daytrades april 21 afternoon, page-3

Thanks HLL

Aussie shares are higher at midday buoyed by gains in resource stocks on stronger commodity prices, and a positive lead from US stocks overnight following some better than expected earnings results.

All Ordinaries index had risen 37 points, or 0.75 per cent, to 4,986 points.

In economic news: The Department of Education, Employment and Workplace Relations index of skilled job vacancies fell 6.8% to a read of 44.4 between March and April.

In some more positive news, the Westpac/Melbourne Institute leading index of economic activity rose to 7.2% in February up from 6.9% in January.

And data from the ABS shows that Australias merchandise imports rose 4% in March.

In company news: Zinc, lead and silver producer CBH Resources Ltd (ASX:CBH) says it has received notice from takeover suitor Nyrstar NV that it does not intend to change its current takeover proposal. Nyrstar is in the bidding race for CBH with Toho Zinc, who on Tuesday upwardly revised its offer for the miner. Toho is offering to acquire between 26.5% and 28.5% of shares held by CBH shareholders to give it a stake in the company of no more than 49.9%. Nyrstar says it believes its offer to acquire almost $100 million worth of CBHs convertible notes and all of its shares for 19.5 cents a share, as superior to Tohos and represents the best outcome for shareholders. Shares in CBH Resources fell 6.98% to $0.20.

Macquarie Atlas Roads Group (ASX:MQA) says weighted average traffic rose 1.2% and revenue increased 3.8% across the portfolio during the March 2010 quarter despite poor weather conditions. This compares to traffic growth of 1.1% and revenue growth of 3.5% during the December quarter of 2009. The company says revenue has continued to recover during the quarter, with increases seen on some major roads in the portfolio, reflecting the improving traffic trends and the positive impact of the changes to tolling structures implemented during 2009 and 2010. Macquarie Atlas Roads says some roads in the portfolio experienced revenue and traffic declines following unexpectedly harsh winter conditions during the period. Shares in Macquarie Atlas Roads dropped 0.5% to $0.995.


Global miner BHP Billiton Ltd (BHP) says it produced a total 31,164 tonnes of iron ore during the March quarter, up 11% on the same period last year. However, the result was a 4% drop on the December quarter due to weather related disruptions. Oil production was a standout for the miner, up 26% for the year to date to close to 70 million tonnes, while natural gas output increased 5%. BHP says this is the third consecutive year to date production record for its petroleum products. Copper output, however, slumped 19% as a result of a number of events including the Olympic Dam Clark Shaft Failure, industrial action in Chile and lower grades across other South American mines. The shaft failure at Olympic Dam also had an impact on the miners uranium production which plunged 74%. Lead, zinc, silver and alumina production were all higher compared to the same period last year. In other news BHP says it is cooperating with US authorities in an investigation relating primarily to certain terminated minerals exploration projects, where possible violations of anti-corruption laws have occurred in interactions with government officials.

BHP did not say which country this is related to. BHP earned $7.2 billion in fiscal 2009.

Carpentaria Exploration Limited(CAP) recently announced an agreement with the privately owned BMG to farm-in on Carpentarias 100% owned Burta EL7208 and Little Peak ELA3848 tenements at its Hawsons Iron Project in NSW. The deal has the potential to transform Carpentaria from a minerals explorer to mining house.

Majority of sectors are in the black at midday, however the sector with the biggest gain is the Utilities index, up 79 points to 4,557.

The only sector in the red is Consumer Staples index, down 4 points to 7,668.

Gold is trading at US$1,141.75 an ounce and the Aussie dollar is trading at 93.08 US cents.

MORNING TRADES
CAP:.15c/.165c
CAP: 52c/.55c
MBA: 03c/.033c

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