Business Services Industry
M&A talk reaches Rio, BHP.
Australasian Business Intelligence, May, 2007
Byline: Nina Wan and Peter Wells
May 07, 2007 (The Australian Financial Review - ABIX via COMTEX) -- The Australian sharemarket rallied to another new high on 7 May 2007. The S&P/ASX 200 added 30.8 points to close at 6,335.7, while the All Ordinaries Index finished 33.2 points higher at 6,329.4. Rio Tinto advanced $A4.53 to close at $A91.38 and BHP was up $A0.96 at $A31.56. Takeover target Rinker Group rose by $A0.34 to $A19.23, while Macquarie Bank eased $A0.70 to finish at $A90.30. Overseas markets also rallied, with both the Dow Jones Industrial Average and the Hang Seng Index rising to record highs.
Publication Date: 8 May 2007
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