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4 Jan 2013 SYDNEY MORNING HERALD - MARTIN PRETTY - MARTIN PRETTY IS HEAD OF RESEARCH AT INVESTORFIRST SECURITIES.


BANKING

CBA tops $100b

The Commonwealth Bank's market capitalisation has topped $100 billion for the first time, as the sharemarket closed at a new 19-month high on Thursday. The bank's shares rose by 0.83 per cent to its highest value - $63.24 - leaving it with a market cap of $101.8 billion.

DIRECTORSHIPS

Costello in frame

Former treasurer Peter Costello refused to comment on reports his name is being put forward as a potential independent director of Nine Entertainment if its restructure is approved later. Nine's debt holders are expected to take ownership of the media group under a scheme of arrangement later this month which will see a new board of directors voted in by the new owners.

ENERGY

Pura asset sale

One of the most successful floats of 2012, oil explorer Pura Vida Energy, has raised $US15 million after selling a 52 per cent stake in one of its assets off the coast of Morocco. The transaction saw Pura Vida shares fall almost 16 per cent to 69?, still well above its 2012 listing price of 20?.

SERVICES

Miclyn quits Iran

Miclyn Express Offshore, the service provider to the oil and gas sector, has decided to withdraw operations from Iran because of sanctions. Miclyn estimates that about $US5.4 million worth of receivables and deposits could be lost as a result of the decision.