Skip to main content

Warren Buffet's to invest $US5 billion in investment bank Goldman Sachs

Australian shares closed up today after investors were buoyed by billionaire investor Warren Buffet's decision to invest $US5 billion in investment bank Goldman Sachs.

The move boosted confidence in local financial stocks, with National Australia Bank closing 7.3 per cent higher.

That helped the ASX 200 rise 1.2 per cent to 4,982.

The All Ordinaries index added 51 points to 5,008.

BHP shares closed flat on the share market at $37.87.

Fortescue stocks were down 0.8 per cent to $6.46.

About 5.30pm AEST, gold was worth $US888.20 an ounce.

Oil had dropped to $US107.85 a barrel.

The Australian dollar was worth 83.74 US cents, 45.13 UK pence, 88.96 Japanese yen and 57.06 euro cents.

The Reserve Bank, meanwhile, has joined the latest effort to address the global financial crisis.

It has agreed with the US Federal Reserve to join the central banks of Sweden, Norway and Denmark in pouring $US30 billion into the global system.

Of that the RBA is contributing $US10 billion to create a swap facility to try to address the problems institutions around the world are having in refinancing their US dollar loans.

The facility means local authorised institutions will be able to swap their Australian dollar assets for US dollars and will then be able to pay off their US dollar loans.

In other share market news, BHP Billiton has lost its High Court appeal to prevent Fortescue Metals Group accessing one of its rail lines in Western Australia.

The final decision is still in the hands of the Australian Competition Tribunal, which is expected to hear the matter early next year.

OUR BLOG ON THE NET

  • Australian Stock Watch

    netmillionare.blog. Submit search form. Read Feeds In Browser. Related Links. World Markets Update. Get great free widgets at Widgetbox! Get Updates ...
    netmillionare.blogspot.com/ - 198k - Cached - Similar pages

  • Australian Stock Watch: Coal and Iron ore stocks to rise by 20% by ...

    netmillionare.blogspot.com/2008/04/mount-gibson-iron-bid-news-mgx.html · netmillionare.blogspot.com/2007/12/hot-australian-stocks-shares-for-2008.html ...
    netmillionare.blogspot.com/2007/12/coal-and-iron-ore-stocks-to-rise-by-20.html - 212k - Cached - Similar pages
    More results from netmillionare.blogspot.com »

  • netmillionare.blogspot.com Estimated Worth $2438.2 USD by ...

    netmillionare.blogspot.com valuation by websiteoutlook.
    www.websiteoutlook.com/www.netmillionare.blogspot.com - 25k - Cached - Similar pages

  • Australian Stock Watch on Technorati

    http://netmillionare.blogspot.com/2008/09/asia-stock-markets-tumble-down.html. Stock markets plunged across Asia on Friday, continuing a steep downturn that ...
    feeds.technorati.com/blogs/netmillionare.blogspot.com - 45k - Cached - Similar pages

  • The Australian Index - Music Blogs

    ... in the ma ... n-ore-stocks-to-rise-by-20.html netmillionare.blogspot. com/netmillionare.blogspot.com/2007/10/india-mukesh-ambani-beats-bill-gates-to.html ...
    theaustralianindex.com/music/?s=search&searchterms=%22gates%22&pageNo=10 - 31k - Cached - Similar pages

  • Popular posts from this blog

    Best Australian stock forums online ( finance forums)

    Many traders and investors use forums to share ideas, learn from the more experienced, or simply to stave off boredom during long hours at the computer. Here we list the known universe of forums, complete with costs, member numbers, extra benefits and popular forum topics. Please post a message on Your 2 Cents if your favourite forum isn't listed here, or if you feel that there's more to add about the day-to-day goings on in your online community.Forum
    Cost
    Stock comps
    Forum areas
    Comments
    AussieStockForums.comFreeASX by share code, General, Beginners, Derivatives, Commodities, International, Strategies/SystemsEasy to use, independent forum. Aussie Stock Forums has a group of very active and knowledgeable traders. Private messaging available. Australian forum.
    Chimes in ExileFreeASX stocks, fundamental analysis, technical analysis, commodities, economics, investment tools The forum has a small group of regular contributors that form a genuine community of investor…

    The diggers and dealers forum meet 2011

    The diggers and dealers forum has just begun August 1. Its a three day annual event happening every year  at the WA country town of kalgoorlie.2011 Diggers & Dealers forumBig name brokers  keenly watching the event will be MacquarieDeutsche BankBell PotterGoldman SachsRBS MorgansEvans & PartnersHartleysBlack Swan Euroz.Well most other websites will give you the  finer details of the annual meet and greet that happens at kalgoorlie , so we will just stick with the bare minimum of details  and focus on the more enjoyable bits  of information that the dealers require to strike a good deal while in town.Bare detailsWebsite : Diggers & DealersEvents : Program and scheduleWatering holes and entertainment at Diggers and dealers forumPubs , clubs  and skimpy (barmaids) culture in kalgoorlie . There are about 25 pubs in Kalgoorlie-Boulder area and for a city that stretches just 67sq km the number of pubs makes for  a good choice on drinking holesand entertainmentExchange Hotel ( Pa…

    List of Australian blue chip stocks

    Australian shares gained 0.6 percent on Wednesday led by blue chip miners and financials on strong resource price


    The biggest Blur chip stocks traded on the ASX, in terms of their market capitalisation, include:
    BHP BillitonCommonwealth Bank of AustraliaTelstra CorporationRio TintoNational Australia BankAustralia and New Zealand Banking GroupRio tintoWestpac
    The only stock to do worse than the S&P/ASX 200 is Harvey Norman Holdings Ltd [ASX: HVN]. Even so, it’s a better-than-the-bank 8.3% gain. The others have done much better: Qantas [ASX: QAN] up 36.1%; JB Hi-Fi [ASX: JBH] up 20.5%; Toll Holdings [ASX: TOL] up 25.3%; and Myer Holdings [ASX: MYR] up 37.1%. The benchmark S&P/ASX 200 index rose 27.1 points to trade at 4,977.3 by 2310 GMT. It fell 0.8 percent on Tuesday, its lowest close since February 7.