Referenced Stocks

Australian Stock Market Report – Midday 7/3/2012

By International Business Times,  July 02, 2012, 11:13:59 PM EDT

MIDDAY REPORT
(11.30am AEST)

Following a slightly stronger start to the trading session, the All Ordinaries Index (XAO) is currently unchanged. The energy sector was the best performer yesterday after oil prices shot up by 9.5 pct. Today, the oil and gas producers are holding the market back most significantly.

The S&P/ASX 200 Energy index is down 0.83 pct or 100.7 pts to 12039.1. Australia's second largest oil and gas producer, Woodside Petroleum (WPL) is down 1.95 pct or 65 cents to $31.17 while the smaller Santos ( STO ) is 1.1 pct or 12 cents weaker to $10.79. STO was first listed on the ASX back in 1954 and has a market capitalisation (number of shares on issue multiplied by the current share price) of $10.29 billion. The company provides natural gas to markets in Asia and Australia and has developed a number of oil and Liquefied Natural Gas ( LNG ) projects across the region. WPL is around 2.5 times larger than STO (in market cap terms).

Read More on International Business Times




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: LNG, STO



Latest News Video

EHarmony Looking to Matchmake in Jobs Market
EHarmony Looking to Matchmake in Jo...
Car Plows Into Parade Crowd, Dozens Injured
Car Plows Into Parade Crowd, Dozens...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.43 0.07  0.52%
CSCO $ 24.24 0.35  1.48%
MSFT $ 34.87 0.79  2.32%
F $ 15.08 0.44  3.01%
ARUN $ 13.10 4.51  25.61%
SIRI $ 3.50 0.05  1.45%
GE $ 23.46 0.19  0.82%
S $ 7.32 0.04  0.55%