Explosives and mining services supplier Orica says the closure of its Kooragang Island facility in Newcastle is costing $4 million in earnings each week. The Kooragang Island ammonium plant has been closed since August 8th when there was spill that affected residents nearby. The facility's ammonium nitrate plant was also shut down on November 9th after a separate leak of ammonia vapour.

 

Adventure clothing retailer Kathmandu has reported a 16 per cent increase in total sales in the first quarter of the financial year. The New Zealand-based company says sales grew just over $42 million in the 15 weeks to November 13th.

 

And to the market numbers, European shares have extended losses with traders citing conflicting signals sent by leaders in Germany and Britain about how to solve the eurozone's debt crisis, London's FTSE closing down 60 points. The US market was mixed. The Dow * finished up 33 points as we can see there. The local share market yesterday closed firmly in the red as concern about the eurozone debt crisis continued to weigh on investors. The Aussie dollar is trading around parity with the greenback.