Business Services Industry

Big three contenders get closer to hitting the share price century.

Australasian Business Intelligence, June, 2007

Byline: Vanessa Burrow

Jun 03, 2007 (The Age - ABIX via COMTEX) -- Shares in three Australian-listed companies came close to breaching the $A100-a-share mark in the past month. Rio Tinto stock recently closed at $A99.69, buoyed by speculation the group had rejected a takeover offer from BHP Billiton, while strong support for its blood plasma products pushed stock in listed biotechnology firm, CSL, to $A97.67. In mid-May 2007, Macquarie Bank shares reached $A98.64, after the investment bank announced a 60 per cent profit increase for the year to 31 March. Market commentators claim retail investors have not been put off by the high share prices of the three companies. As at 1 June 2007, stock in Rio, CSL and Macquarie Bank closed at $A95.89, $A88.80 and $A88.54...

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