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Market Update : 
Australian Trade Deficit, Construction Ease
Author: Darlington Musarurwa
123jump.com
Last Update: 6:55 PM ET March 04 2010


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Australian trade deficit eases to A$1.1 billion in January. Linc is reviewing offers for three properties that it estimates are worth $1.5 billion. Telstra Corp hired bankers for its bond offering in Europe. Australian building industry expands at a slower pace in February.

 
BHP Billiton plc added 1.4% to A$42.28.

CSR Limited gained 3.0% to A$1.68 on the speculation that Bright Food may raise its bid for the company’s unit.

Henderson Group Plc rose 0.9% to A$2.10 after the money manager was upgraded to “buy” from “hold” at Goldman Sachs JBWere Pty.

Mirabela Nickel Ltd the mineral explorer rose 3.0% to A$2.36.

Newcrest Mining Limited the gold producer climbed 1.6% to A$33.50.

Paladin Energy Ltd fell 3.2% to A$3.62 after the uranium explorer was downgraded to “sector perform” from “outperform” at RBC Capital.

Panoramic Resources Limited increased 6.1% to A$2.43 after the mining company was upgraded to “outperform” from “sector perform” at RBC Capital.

Ramsay Health Care Limited dropped 1.7% to A$12.73 after the private hospital operator was downgraded to “equalweight” from “overweight” at Morgan Stanley.

Rio Tinto Limited advanced 0.7% to A$74.40 after the mining company said it is in discussions with Russia''s OAO Norilsk Nickel about the future of their joint venture, according to a Dow Jones report.




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