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Graincorp says the Federal Government's jeopardised the future of rural infrastructure1 along Australia's east coast by rejecting Archer2 Daniels Midland's takeover proposal. The Treasurer3 Joe Hockey said the multi-billion dollar deal was not in Australia's interests. Business groups and market analysts4 say it sends a message that foreign investment isn't welcomed in this country, Archer Daniels Midland though says he plans to increase its stake in Graincorp.
Graincorp shares plunged5 as much as 26 per cent on the news that the takeover had been rejected by the government. Shares in Graincorp did recover a little, but closed down 22 per cent. Rio Tinto jumped 2.5 per cent after a decision to suspend production at its Gove Alumina facility.
The number of private sector6 credit loans has grown by a third of one percent in October. Figures from the Reserve Bank show that private sector credit grew by 3.5 percent over the year to October. Housing credit stands at 5 per cent for the year, but business loans are only 1.4 per cent higher than a year ago.
Turning to the broader sharemarket. And it fell with a lack of offshore7 leads with Wall Street shut for the Thanksgiving Holiday. The All Ordinaries Index down a quarter of a percent.The ASX 200 Index shed a third of a per cent. Across the region, it's a mixed session. And the Australian dollar has reversed yesterday's gains.
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1 infrastructure | |
n.下部构造,下部组织,基础结构,基础设施 | |
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2 archer | |
n.射手,弓箭手 | |
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3 treasurer | |
n.司库,财务主管 | |
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4 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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5 plunged | |
v.颠簸( plunge的过去式和过去分词 );暴跌;骤降;突降 | |
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6 sector | |
n.部门,部分;防御地段,防区;扇形 | |
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7 offshore | |
adj.海面的,吹向海面的;adv.向海面 | |
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