AMP AMP Limited

0045 GMT [Dow Jones] Australia's S&P/ASX 200 is flat at 4809.3 after an early rise to 4829.2. Gains in banks are offsetting falls in miners after offshore equity markets rose. Spot gold continued to tumble and copper prices remained shaky after recent weakness. ANZ (ANZ.AU) leads banks with a 0.6% rise, while BHP (BHP.AU) falls 1.0% and Newcrest sinks 1.5%. Woodside (WPL.AU) is up 1.8% after oil prices rose and the energy producer bought stakes in oil and gas blocks offshore Ireland. Caltex (CTX.AU) dives 11% after a profit warning late yesterday. AMP (AMP.AU) falls 2.7% after a profit warning earlier this week. "It seems the three-day bounce in equities is likely a result of investors taking advantage of a short-term overreaction by the market to the Federal Reserve's statement last week," says Rivkin global analyst Tim Radford. "While sentiment has improved in the past three sessions, overarching concerns over stimulus reduction will continue weighing on broader market sentiment." (david.rogers1@wsj.com)

 
Write to Shani Raja at shani.raja@wsj.com 
 
 

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