On one of the century’s most significant dates, Wednesday 12/12/12, Australian shares rose to a new 2012 high in early trading, with the S&P/ASX 200 index (INDEXASX:XJO) closed with the change of 0.17% to 4,583.80 after increasing as high as 4,603.50.
Stocks contributing for this fresh peak included mining giant BHP Billiton Limited (ASX:BHP) (NYSE:BHP) rose +0.99% following it announced that it will sell a stake in its Browse gas-export project offshore Western Australia to Chinese energy heavyweight PetroChina Company Limited (HKG:0857) (NYSE:PTR) which advanced +1.12% . [article_detail_ad_1]
BHP Billiton Ltd. announced Wednesday it had decided a US$1.63 billion cash transaction to sell its stake in the planned Browse liquefied natural gas project in Australia to PetroChina, China’s biggest listed oil producer by market value.
The transaction involves PetroChina acquiring BHP’s 8.33% share in the East Browse joint venture and its 20% stake in the West Browse JV offshore Western Australia state.
Energy giant Woodside Petroleum Limited (ASX:WPL), which as well contributes in the Browse project, advanced 1.62%.
Energy firms were usually among the most excellent performers on Wednesday, with Linc Energy Ltd (ASX:LNC) advancing +25.00%.
Linc Energy Ltd shares advanced on Wednesday on the support of sustained speculation that Russian billionaire Roman Abramovich is paying attention in the company.
The Australian Stock Exchange requested Linc Energy to explain a spike in the firm’s share price between December 7 and December 11.
But Linc was unable to give details about the 50 cent boost to the stock since it settled at 81 cents on Friday December 7. Brokers were as well unable to recognize any “material” reason for the share price advance.
It comes a month following Linc Energy landlord Peter Bond met Mr Abramovich in Brisbane to talk about Linc’s operations.
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