Aust stocks open lower despite Wall St rally, =2 Sydney

AAP General News (Australia)
08-24-2000
Aust stocks open lower despite Wall St rally, =2 Sydney

In the media sector, News Corp was 14.5 cents softer at $22.65 and its preferred scrip
was 4.3 cents lower at $19.19.

Publishing and Broadcasting, which yesterday announced a record full-year net profit
of $323.96 million, gained 23 cents to $14.37 at 1034 AEST.

PBL's results was above market expectations, with the company saying strong results
from the Nine Network, Crown Casino and its magazine division contributed to the record
result.

Seven lifted by 0.5 of a cent to $7.91 and Fairfax also added 0.5 of a cent to $5.15.

In the tech sector, smart card developer ERG soared by 38.4 cents or 3.80 per cent
to $10.50 while ecorp slipped by eights cents or 3.15 per cent to $2.46.

Ecorp said yesterday it was comfortable with analysts forecasts going into the 2001
financial year after posting a $28.266 million net loss for 1999/2000.

NAB gained 0.5 of a cent to $25.69 and Commonwealth added 13.8 cents to $29.05.

Westpac slipped by 11 cents to $12.74 and ANZ was two cents firmer to $13.23 at 1039 AEST.

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KEYWORD: AUST STOCKS OPEN

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