This article is from the Australian Property Journal archive
The ASX Property index has jumped on a rollercoaster ride this week, rising and falling since Monday.
Yesterday, the Property index closed 1.2% lower at 2048.6 points. The All Ordinaries also fell 1.2% to 4929.6 points.
Yesterday’s leader was led by hotel management group Tourism, Hotels and Leisure Limited, which shares closed 4.5 cents higher at 19.5 cents.
Investors bought into TLC, after an announcement from diversified financial services company MFS Limited made a $37 million bid to buy a 17% stake in the TLC.
In addition, MFS has also agreed to acquire the freehold, leasehold and management rights associated with certain properties managed by TLC for $26 million. Both transactions are conditional upon the 90% acceptance level being achieved in the TLC offer.
Both listed MFS entities, MFS Limited and MFS Living and Leisure Group, closed 11 cents and 2.5 cents higher, at $3.88 and 85 cents, respectively.
The other winner yesterday was diversified property group Trinity, which shares closed 5 cents higher at $1.45.
Trinity had a day earlier reported a net profit after tax of $14.30 million, for the year ending June 30, 2006 – 30% above its Prospectus forecast.
Rubicon America Trust filled the last winners spot yesterday, closing 1.5 cents higher at 95 cents.
RAT’s rapid growth spurt has resulted in a record net profit of $49.3 million for the six months to June 30, 2006 – an increase of 235% when compared to last year.
Meanwhile, the losers yesterday were RUN Corp, Axiom Properties and Leighton Holdings.
By Adam Parsons
Yesterday’s Winners
|
Name
|
Volume
|
Open $
|
Low $
|
High $
|
Last $
|
Change $
|
Change
|
|
TH&L LTD FPO
|
339,443
|
0.200
|
0.195
|
0.200
|
0.195
|
0.045
|
30.00%
|
|
MARINER FIN
|
258,313
|
1.270
|
1.270
|
1.350
|
1.315
|
0.065
|
5.20%
|
|
TRINITY CONSOLIDATED
|
75,167
|
1.420
|
1.420
|
1.450
|
1.450
|
0.05
|
3.57%
|
|
MFS LIVING STAPLE
|
274,138
|
0.865
|
0.850
|
0.865
|
0.850
|
0.025
|
3.03%
|
|
MFS LTD FPO
|
929,655
|
3.800
|
3.760
|
3.890
|
3.880
|
0.11
|
2.92%
|
|
PORT BOUVARD
|
135,814
|
3.320
|
3.300
|
3.410
|
3.410
|
0.09
|
2.71%
|
|
GRAND HOTEL GRP
|
75,447
|
0.810
|
0.810
|
0.820
|
0.820
|
0.015
|
1.86%
|
|
FINBAR INTL
|
14,123
|
0.810
|
0.810
|
0.845
|
0.845
|
0.015
|
1.81%
|
|
MORTGAGE CHOICE LTD
|
2,610
|
2.450
|
2.450
|
2.490
|
2.490
|
0.04
|
1.63%
|
|
RUBICON AMERICA
|
2,706,083
|
0.940
|
0.940
|
0.955
|
0.950
|
0.015
|
1.60%
|
Yesterday’s Losers
|
Name
|
Volume
|
Open $
|
Low $
|
High $
|
Last $
|
Change $
|
Change
|
|
RUN CORP LIMITED
|
69,800
|
0.215
|
0.195
|
0.215
|
0.195
|
-0.025
|
-11.36%
|
|
APN PROP FPO
|
23,400
|
2.300
|
2.250
|
2.300
|
2.250
|
-0.12
|
-5.06%
|
|
AXIOM PROPERTIES
|
45,700
|
0.300
|
0.285
|
0.300
|
0.285
|
-0.015
|
-5.00%
|
|
LEIGHTON HOLDINGS
|
678,850
|
17.650
|
17.090
|
17.650
|
17.130
|
-0.81
|
-4.52%
|
|
WRF SECURITIES
|
795
|
0.480
|
0.480
|
0.480
|
0.480
|
-0.02
|
-4.00%
|
|
LV LIVING LIMITED
|
1,087,000
|
0.025
|
0.025
|
0.026
|
0.025
|
-0.001
|
-3.85%
|
|
WESTFIELD GROUP
|
10,979,323
|
17.900
|
17.900
|
18.010
|
17.940
|
-0.67
|
-3.60%
|
|
WENTWORTH MUTUAL
|
3,738,069
|
0.027
|
0.026
|
0.027
|
0.027
|
<div alig |