Australia’s S&P/ASX 200 Drops, Led by Rinker and James Hardie
Australia’s S&P/ASX 200 Index fell from a record, led by Rinker Group Ltd. as home sales dropped in the U.S., its biggest market.
The S&P/ASX 200 Index lost 10.1, or 0.2 percent, to 4762.4 as of 10:20 a.m. in Sydney. About three stocks fell for every two that gained.
New Zealand’s NZX 50 Index added 0.5 percent to 3373.01 as of 12:20 p.m. in Wellington.
Rinker, the biggest supplier of cement blocks in the U.S., fell 23 cents, or 1.4 percent, to A$16.54. James Hardie Industries NV, the biggest supplier of home siding in the U.S., slid 7 cents, or 0.8 percent, to A$8.93. Both companies get more than 75 percent of their sales in the U.S.
U.S. stocks dropped as sales of previously owned homes declined by a worse-than-expected 1.7 percent last month to the lowest level in eight months, increasing concern the world’s biggest economy will falter in 2006.
The benchmark index is poised for an 18 percent rise this year, after a 23 percent jump in 2004, the best performance in more than a decade.
More: bloomberg.com
Related Travel Information
Australia's S&P/ASX 200 Drops, Led by Rinker and James Hardie
Australia's S&P/ASX 200 Index fell from a record, led by Rinker Group Ltd. as home sales dropped in the U.S., its biggest market.
The S&P/ASX 200 Index lost 10.1, or 0.2 percent, to 4762.4 as of 10:20 a.m. in Sydney. About three stocks fell for every two that gained.
New Zealand's NZX 50 Index added 0.5 percent to 3373.01 as of 12:20 p.m. in Wellington.
Rinker, the biggest supplier of cement blocks in the U.S., fell 23 cents, or 1.4 percent, to A$16.54. James Hardie Industries NV, the biggest supplier of
Australia’s PBL holds up following Packer death
Australia’s Publishing and Broadcasting Ltd is expected to continue to pursue growth through its casino business, with little likelihood of a quick-fire break-up of the news-to-gaming group following the death of media mogul Kerry Packer.
Shares in PBL eased just 2% yesterday after the death of Australia’s richest man, supported by confidence in a management team assembled in recent years and as analysts and fund managers played down prospects of breaking up the A$11.2bn ($8.2bn) group now controlled by Packer’s son.
James Packer, 38, was expected to continue chasing growth through the casino business, which
Australia's PBL holds up after Packer death
Shares in Australia's Publishing and Broadcasting Ltd (PBL) eased just 2 per cent yesterday after the death of media mogul Kerry Packer, supported by confidence in a management team assembled in recent years.
Analysts and fund managers played down the likelihood of any quick break-up of the $A11.2 billion ($NZ12.2 billion) media and gaming group built up by Australia's richest man and now controlled by his son James, PBL's executive chairman.
The younger Packer is widely reported to be less committed to the television business than his father, but analysts said he was
Northbridge
Northbridge lies to the north of the horseshoe bridge which crosses the railway line in William Street, between Perth Station and the Wellington Street Bus Station. It is easy walking distance from the city centre, but it is also within the free transit zone and the Blue CAT Bus goes here. James Street, the second street after the bridge, has become famous for food, but the surrounding streets too are competing hard. Here you will find every type of cuisine imaginable, a microcosm of the ethnic diversity of Perth. There are also pubs and nightclubs.
Albany
Established in 1826, Albany was the first colonial settlement in what is now WA. Albany is proud of its history; the tourist office has information on the dozens of buildings of historic interest. Though surrounded by gorgeous, uncrowded beaches, the city itself is the commercial center of the Great Southern region. Albany offers all of the conveniences—and annoyances—of a small city, with plenty of shops and cafes, but also increasing traffic and congestion, making Stirling Range perhaps a better choice for an overnight stay.
PRACTICAL INFORMATION Albany's main drag is York St. The tourist office is in the Old Railway
