It Was A Rocky Day On The Australian Market

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The index didn’t move too much (down 0.38%), but there were a few stocks that soared, or took a beating.

Country Road finished up 21.36% after Woolworths caved in to Solomon Lew, offering to buy his stake so he doesn’t scuttle the David Jones deal.

And so David Jones was up as well, 4.9%, since it looks like the deal could go ahead, if it clears the regulatory hurdles which arise from Lew getting a pretty sweet deal.

Investors were still loving Network Ten after it emerged yesterday that a US private equity company was interested in potentially buying its debt and equity.

Kathmandu, however, took a beating, with its stock dipping more than 15% at one stage (finishing down 12.5%) after it revealed warm weather had hurt its winter sales.

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