Asciano Group
ASX:AIO ISIN:AU000000AIO7
Asciano Group is an Australia-based infrastructure owner, with a primary focus on transport infrastructure, including ports and rail assets, and associated operations and services. The Company’s portfolios include the combination of the Pacific National and Patrick businesses. These two businesses own and operate four container terminals, bulk export facilities, a range of stevedoring equipment and associated services, rail operations and investments in a number of joint ventures. Patrick’s ports operations consist of businesses, which are concerned with the operation and provision of services to importers, exporters, shipping lines and other parties involved in maritime trade. Pacific National is a Australia-based private freight rail operator providing bulk haulage and intermodal container services. It offers specialized services, including express freight forwarding and the haulage of long-distance passenger trains. The Company owns 80% of the Patrick Autocare business.
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News
Australian shares have closed below 4000 points after business confidence sank to a record low. Analysts said the market with thin trading volumes was plagued by the negative sentiment concerning global recession. Resources sector would lead the market lower as oil prices fell below $US60.
The Australia share market closed marginally weaker after a 75 basis point interest rate cut by the RBA boosted the bourse back from earlier sharply lower levels. The deep cut mirrors RBA's worry about the domestic and global economic outlook. Analysts said the Australia market may have hit the bottom last week at about 3600 points, and the Democratic win in the US election will also give a positive lead to the Australia market.
Yesterday the Australian share market closed weaker on lower base metal prices and a profit downgrade by Lend Lease Corporation. The benchmark S&P/ASX200 index had fallen 16.3 points, or 0.33%, to 4887.7, while the broader All Ordinaries index lost 20.4 points, or 0.41%, to 4957.6.
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