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AMP ups bid; shares lower

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Published on: Monday, December 14, 2009

Australian shares slipped at midday following a mixed result in the US over the weekend.

The S&P/ASX 200 fell 13.4 points or 0.29 per cent to 4,621.8.

The All Ords were 11.7 points or 0.25 per cent lower to 4,639.7.

By industry, industrials were up 5.4 points or 0.14 per cent and utilities added 12.2 points or 0.3 per cent. Energy was down 112.9 points or 0.74 per cent, materials lost 49.4 points or 0.41 per cent and financials dropped 23.5 points or 0.51 per cent.

In mining this morning, BHP Billiton was $0.30 or 0.74 per cent lower to $40.20 and Rio Tinto fell $0.05 or 0.07 per cent to $70.13.

Among the Big Four banks, ANZ dropped $0.04 or 0.19 per cent to $21.26, CBA fell $0.35 or 0.67 per cent to $52.15, NAB lost $0.40 or 1.42 per cent to $27.81 and Westpac was $0.13 or 0.55 per cent lower to $23.43. Suncorp-Metway dropped $0.12 or 1.39 per cent to $8.54.

Among the gold miners, Lihir Gold was $0.02 or 0.62 per cent lower to $3.22 and Newcrest Mining fell $0.15 or 0.43 per cent to $34.87.

To energy, and Woodside Petroleum was on a trading halt ahead of its announcement of a $2.5 billion equity raising. Shares were last at $47.18.

Santos shares fell $0.34 or 2.47 per cent to $13.41. Origin Energy shares were down $0.17 or 1.08 per cent to $15.63,

In retail, Wesfarmers added $0.26 or 0.89 per cent to $29.49 and Woolworths rose $0.46 or 1.71 per cent to $27.29.

In news today, AMP and AXA SA raised its takeover bid for AXA Asia Pacific. The new offer values AXA AP shares at $6.22 per share, a 16 per cent increase from the original proposal of $5.34 per share.

At 12:27pm, AXA shares were up 0.17 per cent to $5.83 and AMP shares gained 0.16 per cent to $6.24.

To Asia, and the Nikkei lost 48.14 points or 0.48 per cent to 10,059.73. The Hang Seng gained 202.07 points or 0.93 per cent to 21,902.11.

Oil was at US$69.87 per barrel and gold was at US$1,115.4 per ounce. The Australian dollar was buying 91.26 US cents, 56.09 pence Sterling, 62.38 Euro cents and 81.36 Japanese yen.  

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