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Market Update : 
Sydney: Arrow Energy Soars on A$3.3 Billion Bid
Author: Darlington Musarurwa
123jump.com
Last Update: 5:45 PM ET March 08 2010

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Arrow Energy Limited received A$3.3 billion joint bid from Royal Dutch and PetroChina Corp. The coal seam gas explorer soared 47% on the bid. BHP Billiton signs new coking coal contract with JFE Holdings of Japan that tracks spot market prices and is only for a quarter compared to annual increase.

 
BHP Billiton plc added 2.3% to A$43.51 after the mining company fixed 55% price increase for coking coal prices.

Eastern Star Gas Limited surged 12.5% to A$0.81 and Linc Energy Ltd rose 3.5% to A$1.59.

Rio Tinto Limited the miner increased 2.5% to A$76.94 and Santos Ltd the exploration climbed 2.9% to A$13.83.

Woodside Petroleum Ltd the oil and gas producer advanced 1.6% to A$45.25.




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