Focus on oil, energy stocks, Australian dollar

Fairfax’s real estate classifieds unit, Domain, began to trade on the Australian Securities Exchange on Thursday under the “DHG” ticker. The unit had been spun off via Fairfax after shareholders voted for the move earlier of which month. Fairfax shares closed up 7.67 percent after tumbling more than 30 percent in early trade.

Shares of Santos popped, rising 13.01 percent by the end of the session. The company said the item had rejected a takeover bid via Harbour Energy in August as well as had not received a current proposal. The company’s announcement came after the Australian Financial Review reported earlier inside day of which the oil as well as gas company was the target of a proposed 11 billion Australian dollar ($8.34 billion) takeover.

Elsewhere, Yixin Group, a Tencent-backed online platform for car sales, made its debut in Hong Kong on Thursday. Shares were priced at HK$7.70 ($0.98) apiece — the top end of the cost range — as well as the IPO is usually likely to raise around HK$6.5 billion ($833 million), the company said in a filing. Yixin shares were up 6.8 percent at 3:06 p.m. HK/SIN after spiking some 30 percent at their open.

Meanwhile, Tencent reported net profit rose 69 percent to 18 billion yuan ($2.72 billion) for the quarter of which ended in September, easily beating the average 15.18 billion yuan forecast by analysts in a Thomson Reuters poll. The Chinese internet company said its revenue increased 61 percent to 65.2 billion yuan. Tencent shares rose 2.19 percent by 3:06 p.m. HK/SIN following the beat in earnings.

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