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Hello my name is Tristan MacKinnon you're watching Asia business news this is the Australian market report of March the 10th overnight US stocks fell in a choppy trade and hit a fresh low in more than 12 years some banks and other stocks rebounded but the broader US market was down as investors were fearful that the recession is spreading further and lasting longer yesterday the Australian market ended slightly higher the big miners such as bhp and Rio Tinto push the market up despite falls in the banking and finance sector according to CMC markets the benchmark stamp;p/ASX 200 indexes was up nine points or 0.2 nine percent at 3,100 54.5 while the bra ordinaries index rose 10 points to 3,100 21.7 the big miners today are not likely to help the market after the fall of commodity prices and lacking positive news from the US / days key economic facts and figures the dun camp; Bradstreet survey of business expectations found that sixty-five percent of firms expecting declining profits in the June quarter in response to the deteriorating economy and fifty-seven percent of those surveyed anticipated drop in sales moving on to mergers and acquisitions Fortes cue Metals has agreed to sell a further 80 6.8 Australian million of its shares to China Hunan Salon iron and steel group company balance stake in forts cool rise to 17.4 percent after the sale of new shares Rio Tinto has sold the Jacobs ranch thermal coal mine in the U.S. to our coal incorporated for an u.s. 761 million this brings Rio's total asset sales announced this year to 2.5 billion US oil and gas exploring nexus energy expected to reveal the results of its proposals in relation to asset sales and debt raising alternatives Nexus has been searching for a partner to fund the development of the crooks project since Mitsuki of Japan abandoned an u.s. 255 million deals to buy twenty-five percent stake in October Jupiter mines their shadows have overwhelmingly approved a partial takeover by former bhp a billion bras buying Gilbert son under the deal Mr. Gilbert sins powering hearse resources and associated company Red Rock resources will receive new Jupiter equity to boost their combined holding of nineteen point nine percent to fifty-five point five percent the poker machine maker Rustic at leisure said it will avoid underwriting its dividend reinvestment plan most aristocrat shareholders shied away from taking extra shares in the company opting for cash instead of X Limited has failed in this attempt to merge with protein pharmaceuticals protein dumped it's unpopular of a merger plan saying proxy voting had been decisively and ambiguously opposed to the union now for important corporate news center metals said the company remains optimistic that its application to export from Port Lincoln's main Work will succeed the company has completed a development application for us alternative route via proper base south of Port Lincoln but will not progress that before the Benin jetty application is...
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