3:00AM New York, 7:00PM Sydney - ASX 200 index gained 1.1% and Resource Pacific accepts Xstrata offer.

Market Sentiment

ASX 200 index rose 1.1% or 54.6 to close at 5,619.10.

The Preliminary market turnover was 1.45 billion shares worth $6.22 billion, with 604 stocks moving up, 588 moving down and 352 unchanged. The most actively traded stock was Broad Investments with 51.23 million shares worth $206.9 million.

Market Driver

The world''s second-largest winemaker, Foster''s Group Ltd''s stock fell 1.5% today after announcing a 6% rise in profit before items to $393.5 million for the six months ended December 31 2007.

The company''s net sales revenue fell 0.5% to $2,356 million while EBITS was 3.5% higher at $635 million and earnings per share were up 9.7% to 20.1 cents.

However the company did not repeat gains from the sale of its Asian breweries a year earlier resulting in net income for the half declining by 28%.

The company blamed slowing consumer demand in the U.S. and a rising Australian dollar weighing down earnings and revenue.

Gainers and losers

Of the ASX 200 index stocks, Boom Logistics led the gainers with a rise of 29.9% followed by increases in Perilya Limited of 23.5%, in APN/UKA European of 11.4%, in Mincor Resources of 8.7%, and in AXA Asia Pacific of 8.5%.

Of the ASX 200 index stocks, Centro Properties led the decliners with a fall of 17.5% followed by losses in Mount Gibson Iron of 8.7%, in Centro Retail Group of 7.5%, in AED Oil Limited of 7% and in Sunland Group of 6.4%.

Debt concerns weighs down Centro''s share

Centro Properties'' share fell 17% today on concerns that it underestimated its maturing debt and also stated that it would increase the amount on its short-term debt.

Centro yesterday won a reprieve after getting an extension of its deadline from Friday to April 30 on its $4.9 billion debt.

Newcrest in $8.1 million loss

Australia''s largest gold producer, Newcrest Mining Ltd today announced an $8.1 million loss for the six months ended December 31 last year.

The loss of 2.1 cents a share was recorded after the gold miner spent $2 billion on bullion at near record prices to meet forward sales contracts.

The company''s profit after-tax profit excluding one-time loss was up 184% to $207.9 million while operating EBITDA was up 80% to $450.4 million. Gold production was up 18%. Newcrest''s share rose 3% after the news.

Oil Search to sell assets