It was the oil and gas producer’s biggest one-day gain in 20 years, and reflected expectations that Tuesday’s announcement of an imminent change of chief executive heralded expansion into the liquefied natural gas market. Speaking at a seminar in Perth, ASX managing director and chief executive officer Robert Elstone said Perth boasted more than 765 listed companies – the most of any Australian capital city. But Mr Elstone turned to the touchy topic of investor misbehaviour, saying the ASX had referred 45 suspected breaches of market rules to the Australian Securities and Investments Commission in the past eight months. Meanwhile, Global Forex Trading (GFT) chief executive officer Gary Tilkin said contracts-for-difference (CFDs) were becoming more and more popular in the volatile trading conditions. GFT’s Australian sales of CFDs have risen 100% in the past year and Mr Tilkin expects CFD trades to make up about 50% of business by 2009. read more

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