ASX Ltd has appointed the head of Tabcorp to replace chief executive Robert Elstone when he steps down from the top job, ahead of launch of rival Chi-X.

Sky Network Television reported a 16.7 per cent rise in full year net profit to $NZ120.1 million, while revenue lifted 7.4 per cent to $NZ796.9 million.

News from the world’s major stock markets.

Copper jumped nearly two per cent to close at a three-week high.

Australian shares closed lower on Friday, ending a flat day of trading ahead of a speech by US Federal Reserve chairman Ben Bernanke.

Sims Metal Management has posted a 51.6 lift in full year profit on the back of a vastly improved performance by its ferrous (iron) division.