Business news for Wed, 14 Nov 2007 & with words bank+capital. 3 news.

AUSTRALIA'S fifth largest bank St George has completed a $766.50 million capital raising and reaffirmed its fiscal 2008 guidance.

ASIAN stocks rose the most in eight weeks yesterday, extending a global rally. Toyota Motor Corp and Canon Inc climbed after the yen weakened against the dollar and Wal-Mart Stores Inc's profit beat estimates, boosting confidence United States consumers will keep spending. Mitsubishi UFJ Financial Group Inc and National Australia Bank Ltd paced gains among banks after Goldman Sachs Group Inc said it doesn't plan significant writedowns on mortgage-related securities, easing concern that credit-market losses will spread and helping US stocks rally the most in a month, Bloomberg News reported. "The Wal-Mart result shows the US consumer is still spending," said Paul Xiradis, who manages about US$8.3 billion at Ausbil Dexia Ltd in Sydney. "On the US investment-banking front for the moment, things are looking better than expected." The Morgan Stanley Capital International Asia Pacific Index added 2.7 percent to 162.49 at 6:11pm in Tokyo, the most since September 19.

NEWLY installed St George Bank chief Paul Fegan has wasted no time putting his stamp on the bank, yesterday announcing a $750 million capital raising which will be used to partly fund market opportunities as it looks to accelerate growth.