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| Wave Rider |
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  Registered Member #3 Joined: Mon Mar 31 2003, 01:13PMPosts: 119 | February 2, 2004 Interest rates and the dollar's strength are likely to dominate news and markets this week as the Reserve Bank meets for the first time in 2004 and some major corporates reveal the pressure a rebounding currency has on their bottom line. After weeks of watching the embarrassment of National Australia Bank's senior management, financial markets will turn their attention to a more traditional spectacle as central bankers and blue-chip stocks take centre stage. When the Reserve Bank meets tomorrow there is an expectation that it will increase interest rates by a quarter of a percentage point - the third such rise in as many months. But it probably won't prove much surprise if the rate stays at 5.25 per cent. Exports are picking up despite having to battle a more expensive currency, a point that will be underlined today when Rio Tinto announces its annual results, while the dollar's impact on imports will be put in focus when retailer Woolworths announces second quarter sales. Recent signs of renewed growth in the telecom sector will ensure that broadband provider Uecomm's annual results are closely watched tomorrow, while fears that property could replicate the tech wreck of the late 1990s will ensure plenty of interest in Centro Properties' half-yearly results. Recycling company Sims Group and gambling giant Tab will also be announcing results later in the week. On the economic front, the December trade balance will be published today, December building approvals and National Australia Bank's monthly business survey tomorrow, and on Thursday, retail trade. Ride the waves - don't fight them! -The Wave Rider........ | |||
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| Freddie |
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  Registered Member #14 Joined: Tue Apr 01 2003, 09:29PMLocation: Sydney, Australia Posts: 1560 | In Sydney, the Australian share market should move higher, but is likely to remain fairly lacklustre heading into the weekend. The local market is expected to take a positive lead from offshore, where US stocks retained their footing, rising modestly on the back of strong US retail data. Strength in major retail stocks in the US could flow through to the local market. In overnight trading on the Sydney Futures Exchange, the March share price index contract - a key indicator of the day ahead - edged three points higher to 3256 by 0643 AEDT on a volume of 563 contracts. Reporting season slows down ahead of the weekend, with Tab Ltd being the only big name due to release half yearly results. Investors will be keen to hear any news on the takeover tussle between Queensland's UNiTAB Ltd and Victoria's Tabcorp Ltd for NSW gaming group Tab. In economic news, the Reserve Bank of Australia is due to release the official reserve assets data Freddie | |||
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| Jumbuck |
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 Registered Member #268 Joined: Tue Jun 24 2003, 03:15PMLocation: Canberra, Australia Posts: 289 | THE National Australia Bank has been punished for its risk management failings - exposed in yesterday's scathing report from PricewaterhouseCoopers - with the loss of the coveted AA credit rating it has held for the past two decades. Responding to yesterday's PWC report on the bank's foreign exchange disaster, which revealed its currency exposure blew out to $2 billion late last year, ratings house Standard & Poor's last night lowered the bank's long-term rating one notch to AA-. "The downgrade reflects material and multiple breakdowns in NAB's risk management processes and weaknesses in the banks corporate governance," S&P financial services credit analyst Craig Bennett said. The report shows the $360million of foreign exchange losses could have been far greater, the result of risk management and control shortcomings in the bank. Unknown to its board, the bank faced a $2 billion-plus exposure to the US currency through activities of its sacked currency options desk late last year. The traders also concealed their activities by using false, or incorrectly recorded, trades as far back as September 2001, the report says. The bank's US dollar options exposures soared from $US271 million to $US1.548 billion ($2.08 billion at current exchange rates) between October and December last year. "I'm glad I didn't know (about the extent of the exposure) at the time - I mightn't have been sleeping terribly well," NAB chief executive John Stewart said yesterday. The report highlights a mentality of "arrogance and non-compliance" as a key contributor of the forex losses. The bank failed to respond to many warnings from parties including the Australian Prudential Regulation Authority and another bank, believed to be ANZ. Management had a tendency to pass on responsibility and bad news was suppressed from the board, the report says. It supports the bank's view that the traders used a one-hour daily window that lacked normal checks and balances. The bank sacked four senior executives in response to the report, as well as dismissing the four options traders who had been suspended on full pay. Head of foreign exchange Gary Dillon was "summarily dismissed". Three others - head of risk Chris Lewis, corporate and institutional banking head Ian Scholes and markets head Ron Erdos - were also "asked to leave" by Mr Stewart. Mr Stewart said the trio was not involved in the trading "but it happened on their watch". He said of Mr Dillon: "If you are directly supervising guys who have been responsible for (breaching trading limits) and don't know what was going on ... you have to be asleep at the wheel. I didn't hesitate one heartbeat to sack him." Through his lawyers, Mr Dillon flagged an unfair dismissal action and claimed he was being used as a scapegoat by the bank. "It was through my own investigative actions (in early January) that details of the false trades and extent of the bank's losses were uncovered," he said. NAB shares closed 24c lower at $31.60. This report appears on NEWS.com.au. Once a jolly jumbuck camped by the billabong.... | |||
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| Dollar Yen |
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  Registered Member #188 Joined: Sun May 04 2003, 12:12PMLocation: Osaka, Japan Posts: 836 | Australian building approvals probably fell for a third month in four in April, signaling a slowdown in residential construction will damp economic growth this year. The number of approvals to build or renovate houses and apartments probably dropped 2 percent from March, according to the median forecast of 19 economists. The Australian Bureau of Statistics releases its report at 11:30 a.m. on Friday in Sydney. Signs of a slowdown in house building and a decline in home prices may underpin expectations the central bank will keep interest rates unchanged until the final three months of the year. Dollar Yen.....Dollar Yen.... | |||
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| Dollar Yen |
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| Registered Member #188 Joined: Sun May 04 2003, 12:12PMLocation: Osaka, Japan Posts: 836 | One of the only markets to see continued upside strength is the commodity heavy Australian index. After gold prices made a dramatic move to $404 level, gold stocks and other metals/mining shares followed suit around the globe. Dollar Yen.....Dollar Yen.... | |||
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| Jumbuck |
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| Registered Member #268 Joined: Tue Jun 24 2003, 03:15PMLocation: Canberra, Australia Posts: 289 | THE stock market hit new record highs for the third consecutive trading day today, buoyed by a stronger US market and a drop in oil prices. The benchmark S&P/ASX 200 reached an intra-day record high of 3615.1 points before finishing 13.7 points higher at a record closing level of 3609.7, beating Friday's previous record. The all ordinaries also hit a record intraday high of 3619.8 points and closed 13.0 points higher at 3615.5 points, well ahead of Friday's previous record finish. On the Sydney Futures Exchange, the September share price index contract, which is due to expire this week, was up 10 points to 3615 on a volume of 30,512 contracts. The regional banks outdid their bigger cousins today with St George piling on 33 cents to $22.38 and Bendigo Bank gaining 15 cents to $10.05 ANZ was the best of the big four, rising 16 cents to $18.65, the Commonwealth improved 12 cents to $29.93 and National Australia Bank added 10 cents to $26.90. Westpac eased one cent to $16.99. QBE continued is recent strengthening with another 24 cent gain to $13.15 while AMP weakened five cents to $6.36. Woolworths grew 11 cents to $13.71, Coles Myer, which releases its full year profit result next week, was steady at $9.46 while Harvey Norman put on two cents to $2.92. BHP Billiton gave up four cents to $13.25, Rio Tinto backtracked 13 cents to $36.29 and oil and gas producer Woodside lost four cents to $18.27. In media, The News Corporation Ltd shares edged back one cent to $11.30 while its non-voting scrip gained eight cents to $10.86. Fairfax slipped one cent to $3.80 while PBL shed two cents to $13.61. Telstra was three cents poorer at $4.84 while Optus owner SingTel improved two cents to $2.01. Biotech company Ventracor which today announced the formal start of a global trial of its VentrAssist artificial heart, lifted five cents to $1.80. Among the gold miners, Lihir Gold was up three at $1.03 and Newmont added two cents to $6.30. Newcrest went backwards 12 cents to $14.63. The top traded stock by volume was Victoria Petroleum with 228.04 million shares worth $11.46 million changing hands. The company, which last week posted a favourable update on drilling for oil in Queensland's Surat Basin, was 0.1 of a cent higher to 4.7 cents. Preliminary national turnover was 1.02 billion shares worth $2.08 billion, with 692 stocks up, 595 down and 382 steady. Source: AAP Once a jolly jumbuck camped by the billabong.... | |||
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| Sara |
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 Registered Member #69 Joined: Tue Apr 08 2003, 10:40PMLocation: Sydney Posts: 1170 | With BHP Billiton launching its own A$9.2 bln cash bid for miner WMC, Aussie is rising today. The ASX 200 rose for an eighth consecutive session setting new all time high at 4243. Looking at economic releases, some are suggesting that the RBA may be on hold. NAB Feb business confidence fell 16 points to 4.5, but business conditions rose 6 points to 10. Capacity utilization at 82.0%, is well above average and should raise RBA concern. Real money players continue to buy, so expect AUD to make further gains. Sara | |||
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| Freddie |
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| Registered Member #14 Joined: Tue Apr 01 2003, 09:29PMLocation: Sydney, Australia Posts: 1560 | Nothing could stop the ASX 200 this week. The “mining�? index has surged and now trades close to its all-time high. From a technical perspective, we’ll have to point out that it looks a bit overbought. Whenever we see it topping out there should plenty of pressure to the downside. Only problem is, that it’s very difficult to call a turn-around, not least because we see metal prices still higher from here. The index should be well-supported year-end. Support at 4570 and if broken then 4450. Freddie | |||
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| Jumbuck |
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| Registered Member #268 Joined: Tue Jun 24 2003, 03:15PMLocation: Canberra, Australia Posts: 289 | Australian share prices closed lower after posting reasonable gains during the trading session, slipping into negative territory on end of the week profit-taking in the resource and banking sectors, dealers said. They said the world's two largest miners, BHP Billiton and Rio Tinto, fell into the red despite the overnight rise in metal and oil prices. Dealers said Australia's largest independent oil and gas producer Woodside defied the late sell-off as oil prices continued to trade above 60 usd on concerns that terrorist attacks may target the global oil industry. The S&P/ASX 200 fell 5.3 points or 0.11 pct to close at 4,898.5. The key indicator closed above the day's low of 4,897.6 and below the high of 4,939.5. Over the week the indicator added just 5.1 point or 0.1 pct. The All Ordinaries Index eased 2.3 points to end at 4,862.1. Dealers said Westfield Group, the world's largest shopping mall owner, fell after weaker than expected US department and retail-chain sales for February. They said investors sold energy group Alinta on doubts its opportunistic takeover bid for Australia Gas and Light Co will succeed and the possibility shareholder funds will be locked into a non-performing takeover play. Alinta laid out nearly 1.8 bln aud in February to build a 19.9 pct stake in AGL, Australia's largest energy retailer and three times the size of Alinta. Source: AFX Once a jolly jumbuck camped by the billabong.... | |||
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| Wave Rider |
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| Registered Member #3 Joined: Mon Mar 31 2003, 01:13PMPosts: 119 | Share prices are expected to trade lower, dragged down by selling across the resources sector following further falls in oil and metal prices, dealers said. They said investors are likely to seek more defensive positions while falls may be limited by a positive lead from Wall Street where interest rate concerns eased. The S&P/ASX 200 ended its overnight session down 7.0 points at 4,852.0, suggesting a mildly negative start to trading. Yesterday, share prices closed lower on weaker commodity prices. The S&P/ASX 200 fell 6.7 points or 0.14 pct to close at 4,873.0 while the All Ordinaries Index lost 7.9 points to end at 4,835.7. In New York, News Corp ended up 0.57 pct while National Australia Bank ADRs added 0.56 pct. In London, BHP Billiton fell 1.93 pct while Rio Tinto dropped 1.60 pct. Crude oil prices tumbled again on Wednesday in response to a larger-than-expected rise in weekly US oil inventories. Crude stockpiles now stand at their highest levels in seven years. OPEC oil ministers also kept the output target unchanged at 28 mln barrels per day. The April Nymex contract fell 1.56 usd or 2.5 pct to 60.02 usd a barrel. A slide in base metals prices extended for a third straight day in London on Wednesday. Traders indicate that the selling is still technically-based with good support from trade buyers. Copper inventories stand at the highest levels since June 2004 with aluminum stocks at the highest levels since August 2004. Gold prices slumped by two pct to three week lows on Wednesday, pressured by continued selling from fund managers. The Comex April gold fell 10.20 usd to 544.60 usd an ounce. Ahead in Australia, February jobless data will be released with the consensus forecast being an unemployment rate of 5.3 pct, unchanged from January. Ride the waves - don't fight them! -The Wave Rider........ | |||
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| Jumbuck |
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| Registered Member #268 Joined: Tue Jun 24 2003, 03:15PMLocation: Canberra, Australia Posts: 289 | Share prices are expected to trade higher as investors take encouragement from positive offshore leads including a solid finish on Wall Street and copper prices continuing to a record breaking run, dealers said. They said BHP Billiton is likely to lead the market up and could reach fresh record highs while the resources sector overall is being supported by a weak Australian dollar and strong commodity prices. CommSec chief equities economist Craig James describes this situation as "nirvana" for resources companies as the weak local currency boosts returns from US dollar priced commodities. Australia's largest home lender, Commonwealth Bank of Australia, will be in focus following new chief executive Ralph Norris unveiling his strategy for growth. On the economic front quarterly job vacancies data for the three months ended February will be released with the consensus forecasts being a 1.0 pct decline from the previous three months. Yesterday, the S&P/ASX 200 rose 4.7 points or 0.09 pct to close at 5,090.5, beating Monday's record closing high of 5,088.1. The benchmark index closed off an intra-day high of 5,098.3 which was just below an all time intra-day high of 5,104.5 reached on Tuesday. The All Ordinaries Index added 4.6 points to 5,049.4, jumping just ahead of the previous record close of 5,045.1 also set on Monday. In New York, share prices rallied to a sharply higher close on Wednesday, after investors decided the prior-session's Fed-inspired sell-off was overdone and the interest rate outlook little changed by the central bank's latest monetary policy meeting. The Dow Jones Industrial Average closed near its session highs, up 61.16 points at 11,215.70. News Corp ended up 0.11 pct while National Australia Bank ADRs advanced 1.24 pct. In London, leading shares closed higher, following Wall Street's lead, as merger and acquisition rumours continued to flood the market, with BG rising over four pct on renewed bid hopes. At the close, the FTSE 100 index was up 23.5 points at 5,959.2 BHP Billiton jumped 1.39 pct while Rio Tinto added 0.25 pct. Crude oil prices consolidated above 66 usd a barrel on Wednesday, taking a lead from the gasoline market. Crude oil supplies in the US rose to fresh 7-year highs in the latest week. But gasoline supplies fell by 5.4 mln barrels in the latest week - the biggest fall in almost three years. The May Nymex contract rose 0.38 usd to 66.45 usd a barrel. Base metal prices were mixed in London trade on Wednesday. The star performer was copper, closing up 19.50 usd at 5388.00 usd a metric ton, a fresh record high. Meanwhile, silver strode to fresh 22-year highs with gold at 7-week highs, underpinned by strong investment demand. The April Comex gold quote rose 6.30 usd to 573.30 usd an ounce. Source: AFX Once a jolly jumbuck camped by the billabong.... | |||
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| HKTrader |
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  Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Asian markets crept higher in limited trading Friday as much of the region was shuttered for holidays, with shares in Taiwan and Australia pacing the Dow's rise to its best level in six years. Markets in Japan, China, Hong Kong, South Korea and Thailand were closed due to national holidays. Gold and oil prices were on the rise, with bullion spot prices touching a new quarter-century high of $681.20 an ounce before easing to $675.90 in Australian trading hours. Australia's benchmark S&P/ASX 200 was up as much as 0.9% to 5,236.90, led by a rally in mining shares on buoyant industrial metals' prices. Elsewhere in the region, shares in Singapore were down 0.22% while New Zealand dropped by 0.91%. The June crude-oil contract rose as much as 40 cents to $70.34 a barrel in Asian trading. On Thursday the front-month crude-oil contract fell $2.34, or 3.2%, to $69.94 a barrel on the New York Mercantile Exchange. Australian miner BHP Billiton (BHP) rose as much as 1.82%, while Rio Tinto (RTP) advanced as much as 2% on stronger copper prices. In New York on Thursday, the Dow industrials (DJI) rose 38.58 points to 11,438.86, its best closing level since Jan. 20. The Nasdaq Composite Index (RIXF) was up 19.93 points at 2,323.90 and the S&P 500 Index (SPX) climbed 4.40 points to 1,312.25. Source: Dow Jones Hong Kong Trader | |||
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| Dubious |
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 Registered Member #61 Joined: Mon Apr 07 2003, 08:52PMLocation: Ottawa, Canada Posts: 184 | June 19, 2006 Share prices are expected to open lower as investors react to a sharp fall in commodity prices sparked by concerns that China's moves to cool its economy will lessen demand for raw materials, dealers said. But they said possible bargain hunting after the sell-off yesterday may limit the market's slide. The S&P/ASX 200 June futures contract ended its overnight session up 5.0 points at 4,870.0, suggesting the physical market is likely to find some support. Yesterday, the S&P/ASX 200 lost 67.8 points or 1.36 pct to close at 4,901.2, on concerns that commodity prices may pull back from near record levels. The All Ordinaries Index shed 62.3 points or 1.26 pct to settle at 4,869.9. In New York, share prices fell on Monday on fears that the housing market could experience a "hard landing" in coming months. The Dow Jones Industrial Average dropped 72.44 points to end at 10,942.11. But News Corp added 0.50 pct although National Australia Bank's American Depositary Receipts dropped 1.53 pct, reflecting a weaker close on Monday in Australia for the nation's largest bank. In London, shares prices closed firmer but off their best levels as Wall Street turned lower. At the close, the FTSE 100 index was 28.7 points higher at 5,626.1. BHP Billiton eased 0.52 pct while Rio Tinto dropped 1.07 pct. Base metals fell sharply in London trade on fears of slower growth in the Chinese economy as well as the pace of growth in the US. While copper is now down 22 pct since mid-May, it is still up 50 pct from the start of the year. Precious metals also retreated, dragged lower by a stronger US dollar, which gained support on expectations of further interest rate hikes despite the market's concerns that the US housing bubble might soon burst. The August Comex gold quote fell 9.30 usd to close at 572.40 usd an ounce. Crude oil prices also fell after Iran cited a "positive atmosphere" in its discussions with Western nations over its nuclear ambitions. The July Nymex crude oil contract eased 0.90 usd to settle at 68.98 usd a barrel. Source: XFN Always Dubious! | |||
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| HKTrader |
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | -Australia June Westpac leading indicator up annualized 5.3 pct vs 4.2 pct May -BHP Billiton yr to June net profit 10.45 bln usd vs 6.39 bln -BHP Billiton yr to June net profit up sharply on China demand -PBL yr to June net profit 610.1 mln aud vs 485 mln -PBL yr to June earnings rise driven by gambling, pay TV -Brambles yr to June net profit 362.6 mln usd vs 313.1 mln -Brambles profit up on debt reduction -Amcor yr to June net profit 351.3 mln aud vs 245.3 mln -Amcor plans restructuring after earnings rise -CSL yr to June net profit 350.9 mln aud vs 234.7 mln -CSL lifts yr to June 2007 net profit by 49 pct on acquisitions, cost savings -Smorgon Steel yr to June net profit 147.3 mln aud vs 133.8 mln -Smorgon Steel profit rises on strong scrap sales -Hutchison Australia 6 mths to June net loss 524.7 mln aud vs loss 365.9 mln -Hutchison H1 loss widens on costs related to 3G rollout -Virgin Blue 9 mths to June net profit up 12 pct on improved yield Source: XFN 23 Aug 2006 Hong Kong Trader | |||
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| HKTrader |
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Australia Q2 adjusted current account deficit13.239 bln aud vs 13.631 in Q1 -Suncorp-Metway FY net profit 916 mln aud vs 882 mln aud -Suncorp-Metway sees higher interest rates affecting earnings -Sims Group FY net profit 196.6 mln aud vs 197.3 mln aud -Sims Group FY earnings slip on higher scrap metal prices -ANZ Esanda unit sells vehicle leasing business for 379 mln aud Source: XFN 01 Sep 2006 Hong Kong Trader | |||
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| Payton |
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 Registered Member #737 Joined: Mon Jan 23 2006, 11:55AMPosts: 191 | Share prices closed higher, led by gains in the financial sector as investors embraced a generally solid domestic economic environment. The S&P/ASX 200 closed up 32.1 points at 5,129.3 points. The broader All Ordinaries index ended up 27.6 points at 5,091.5. Payton | |||
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| HKTrader |
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | user="Payton" post="65554" wrote ... Share prices closed higher, led by gains in the financial sector as investors embraced a generally solid domestic economic environment. The S&P/ASX 200 closed up 32.1 points at 5,129.3 points. The broader All Ordinaries index ended up 27.6 points at 5,091.5. AUSTRALIA: -July building approvals up 8.3 pct at 14,288 units -August Internet job ads down 1.4 pct from July - ANZ survey -Tattersall's yr to June net profit 128.5 mln aud vs 105.6 mln; beats forecasts Hong Kong Trader | |||
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| HKTrader |
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Australia April-June GDP rises 0.3 pct -Australian central bank leaves official cash rate unchanged at 6.00 pct -Australian treasurer says world experiencing "third oil shock" -Coles Myer rejects 17.3 bln aud takeover proposal -Beach outbids Santos for Cooper Basin assets Hong Kong Trader | |||
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| HKTrader |
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Australia Aug unemployment 4.9 pct vs consensus 4.8 pct -NZealand, Gulf states agree to negotiate free trade deal -National Australia Bank strikes payment transfer agreement with China Unionpay -CSR profit outlook may be lower as sugar prices fall Source: XFN 2006-09-07 Hong Kong Trader | |||
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| HKTrader |
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Australia July owner housing finance 14.21 bln aud vs 14.03 bln in June -Mayne Pharma yr to June net loss 31.3 mln aud vs profit 25.4 mln -Mayne Pharma says FY underlying earnings higher, despite net loss -Sino Gold forms new China joint venture in Xinjiang province -Lafayette forced to halt ops at Philippines' Rapu-Rapu mine -PBL, Wynn Resorts' Macau gaming license approved Source: XFN 11 Sep 2006 Hong Kong Trader | |||
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| HKTrader |
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA: -Australia NAB Aug business confidence slips to 6 pts from 10 in July -Australia says to float health insurer Medibank Private but after Telstra sale -Downer EDI acquires Singapore maintenance companies Source: XFN 12 Sep 2006 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Australia's Westpac September consumer index up 12.5 pct vs August -Harvey Norman FY net profit 229.6 mln aud vs 191.6 mln aud -Harvey Norman plans more stores after strong June year -Macarthur Coal FY net profit 149.6 mln aud vs 64.1 mln aud; up on strong demand -Just Group FY net profit 57.2 mln aud vs 45.9 mln aud -Just Group acquires 4.9 pct stake in Colorado -Gindalbie Metals to build 180 mln aud iron pellet plant in China Source: XFN 13 Sep 2006 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | user="HKTrader" post="66392" wrote ... AUSTRALIA & NEW ZEALAND: -Australia's Westpac September consumer index up 12.5 pct vs August -Harvey Norman FY net profit 229.6 mln aud vs 191.6 mln aud -Harvey Norman plans more stores after strong June year -Macarthur Coal FY net profit 149.6 mln aud vs 64.1 mln aud; up on strong demand -Just Group FY net profit 57.2 mln aud vs 45.9 mln aud -Just Group acquires 4.9 pct stake in Colorado -Gindalbie Metals to build 180 mln aud iron pellet plant in China Source: XFN 13 Sep 2006 Australian shares close higher after resource stocks recover Share prices closed higher following bargain-hunting in resources stocks, which had been hit hard in recent sessions because of weakening commodity prices, dealers said. They said buyers returned to the market, encouraged by gains in New York yesterday, but more importantly seeking bargains among blue-chip resources stocks which had sustained heavy losses in recent days. Dealers said index leader BHP Billiton and Rio Tinto staged significant recoveries as investors decided the stocks were trading at unreasonably low price earnings multiplies given their still strong earnings outlooks. BHP Billiton closed up 0.40 aud or 1.62 pct at 25.05 while Rio Tinto added 0.97 or 1.44 pct at 68.36. The S&P/ASX 200 closed up 42.8 points or 0.86 pct at 5,017.2, off a low of 4,985.4 but off a high for the day of 5,019.2. The All Ordinaries index ended up 39.8 points at 4,978.6. Dealers said banks were mixed as investors adopted less defensive positions, encouraged by the generally firmer resources sector. Potential takeover target Coles Myer continued to make gains with the retailer closing at a record high on suggestions that it may face a rival offer to a 17.3 bln aud buyout proposal put to it last week by by an eight-member group headed by US-based Kohlberg Kravis Roberts & Co. Dealers said the retailer is now effectively on the auction block. Bell Potter private client advisor Stuart Smith said trading today was a reversal of yesterday with banks losing out to resources sector. Nevertheless, he said, the banking sector managed to end largely in positive territory, making late session gains after trading in the red for much of the day. "We're in a bit of volatile period at the moment, particularly with the S&P/ASX 200 September share price index expiring on Thursday next week," Smith said. "Tomorrow, we will probably see the banks win at the expense of the resources sector." Nevertheless, he said, today's market shows investors are happy to buy on the dips. A total of 1.11 bln shares traded worth 4.77 bln aud, with rises outnumbering falls 630 to 468 while 320 shares remained unchanged. The S&P/ASX 200 September futures contract was up 54.0 points at 5,020.0. Ten-year bonds eased 0.04 pct to 5.605.0 while 90-day bills fell 0.01 pct to 6.225. Coles Myer ended up 0.40 aud or 2.86 pct at 14.40 but rival Woolworths fell 0.26 to 14.40. Harvey Norman, which reported its annual results, rose 0.04 to 3.43 but Just Group, which also reported annual earnings, fell 0.09 to 3.40 after revealing it had acquired a 4.9 pct stake in Colorado Group. Colorado, under an agreed takeover from a private equity investor group, added 0.03 to 4.69. National Australia Bank added 0.20 to 36.40, Commonwealth Bank rose 0.15 to 46.10, Westpac gained 0.05 to 23.33 but ANZ fell 0.02 to 27.22. Macquarie Bank added 0.73 to 63.40 but Babcock & Brown, which revealed it had become a substantial shareholder in Western Australian energy group Alinta, fell 0.03 to 19.70. Alinta, which is planning a merger with AGL, jumped 0.26 or 2.43 pct to 10.95 while AGL added 0.24 to 20.80. Woodside rose 0.78 or 2.17 pct to 36.65, Santos added 0.19 to 10.62 and Oil Search rose 0.01 to 3.02. Alumina gained 0.16 to 6.20 while Zinifex rose 0.12 to 10.66. Macarthur Coal lost 0.10 to 4.60. Weaker gold prices saw Newcrest slip 0.11 to 20.71, Lihir Gold drop 0.08 to 2.69 and Oxiana also fell 0.08 to 2.69. AMP rose 0.07 to 8.94, IAG added 0.11 to 5.37 but QBE dropped 0.22 to 23.43 and Promina fell 0.03 to 5.56. News Corp added 0.32 to 25.75 while its non-voting stock gained 0.31 to 24.88. Telstra jumped 0.07 to 3.60 while SingTel rose 0.01 to 2.06. Qantas rose 0.11 to 3.64 while Virgin Blue added 0.03 to 1.67. Source: XFN 13 Sep 2006 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Australia's incoming central bank chief warns about impact of hedge funds -Westpac expects FY cash EPS growth of 9-10 pct -BHP Billiton extends share buyback program to Sept 2007 -Babcock & Brown completes placement at 20 aud a share -Advanced Magnesium signs China alloy supply deal -Jetstar takes over Cairns-Darwin-Singapore route from parent Qantas -Vision Systems in discussions with Ventana following rival Cytyc Source: XFN 15 Sep 2006 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Australian manufacturing activity increases moderately in third quarter - AIG -Australia winter crop forecast cut by 36 pct, summer crop down 14 pct - ABARE -James Hardie maintains yr to March profit forecast of 207-247 mln usd -Macquarie Bank expects at least 20 pct increase in H1 profit -Mayne Pharma receives US approval for epirubicin drug -Dyno Nobel not to pursue stake in China's Fabchem Source: XFN 09-19-06 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Cairns Group calls for resumption of WTO talks no later than November -Qantas considering options after new delays in Airbus A380 production -Lafayette's Rapu Rapu mine in Philippines moving to stable output -Santos says KNOC, Samsung take stake in Gulf of Mexico oil site -Alinta declines to comment on reported bid for UK's Thames Water -US-based Cytyc Corp to proceed with offer for Australia's Vision Systems -ANZ puts NZealand's Feltex into receivership Source: XFN 22 Sep 2006 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -NZealand Aug trade deficit 961 mln nzd vs revised 703 mln July deficit -BHP Billiton says awaiting Chilean workers vote to avoid strike at Spence -Telstra's Trujillo comes under fire from Australian MPs -Indonesa's Kalbe Farma takes 45 pct in unit of Australia's CyGenics -Tattersall's merger with UNiTAB gains court approval -Oxiana says no takeover approaches received -Newcrest debt levels higher than expected -LNG Ltd to supply liquefied natural gas to Canada terminal Source: XFN 26 Sep 2006 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Hastings Funds buys UK's South East Water -CommBank confirms unit involved in 2.2 bln stg bid for UK'S AWG -Vision advises shareholders not to accept Cytyc's higher bid for now -US-based Cytyc has 13.5 pct of Australia's Vision Systems -Orchard Petroleum gets 147.2 mln takeover offer from Crosby Capital -James Hardie extends asbestosis compensation funding deadline Source: XFN 02 Oct 2006 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Australia Aug retail sales up seasonally adj 0.3 pct mth-on-mth; beat consensus for 0.2 pct rise -Australia Aug building approvals fall 12.6 pct vs July, up 2.1 pct year-on-year -Australia Sept quarter NAB business confidence index 2 pts vs 8 in June quarter -Australia Sept AIG performance of manufacturing index up 1.4 pts at 53.5 -NZealand, China on track towards free trade deal - NZ trade minister -Australian Gas Pipeline buys Allgas distribution business for 521 mln aud -Australia's Toll to invest 100 mln sgd in Singapore's Loyang supply base -Santos starts gas production at Maleo project in Indonesia Source: XFN 03 Oct 2006 Hong Kong Trader | |||
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| Registered Member #14 Joined: Tue Apr 01 2003, 09:29PMLocation: Sydney, Australia Posts: 1560 | Australian shares outlook - Slightly higher on M&A activity Share prices are expected to open slightly higher as further merger and acquisition activity adds spark to the market, offsetting indifferent offshore leads and renewed interest rate concerns, dealers said. They said Promina's announcement that it had received a 7.87 bln aud share and scrip offer from Suncorp-Metway will see the market focus on the financial services sector. But dealers said heightened interest rate concerns following a speech by Reserve Bank of Australia governor Glenn Stevens last night, in which he highlighted the need to remain vigilant on the inflation front, will limit gains. National Australia Bank market economists said, in a note, that the speech indicates the central bank stands ready to hike again after its Nov 7 board meeting unless there is a noticeable pullback in underlying inflation in the September quarter. The consumer price data for the September quarter will be released on Oct 25. The S&P/ASX 200 December futures contract ended its overnight session up 1.0 point at 5,279.0. Yesterday, the S&P/ASX 200 ended up 34.2 points or 0.65 pct at its high for the day of 5,282.8. The All Ordinaries Index finished up 33.6 points at 5,245.3. In New York, share prices pulled back after aluminum producer Alcoa Inc kicked off earnings season with a weaker-than-expected profit report and minutes from the Federal Reserve's last meeting stoked concerns about the economy. The Dow Jones Industrial Average fell 15.04 points or 0.13 pct to 11,852.13. News Corp eased 0.71 pct and National Australia Bank's American Depositary Receipts slipped 0.04 pct. In London, share prices were a tad higher as blue chip merger and acquisition talk and a rebound in miner Vedanta offset a weak start on Wall Street. The FTSE 100 closed up 0.8 point at 6,073.5. BHP Billiton fell 0.32 pct and Rio Tinto eased 0.62 pct. Crude oil prices fell to fresh 2006 lows below 58 usd a barrel on the lack of a formal OPEC agreement to cut production. The November Nymex crude contract fell 0.93 usd to end at 57.59 usd a barrel, although touching 57.44 in after-hours trade. Base metal prices were firmer in London trade as investors responded to tight market supplies. In New York, the price of gold was little changed, affected by the conflicting forces of a firmer US dollar and weaker oil price. The December benchmark Comex gold contract rose 0.30 usd to 576.50 usd an ounce. Ahead in Australia, September labor force figures will be released with the data expected to indicate a still tight labor market, adding to the case for another hike in interest rates. The market consensus is for the unemployment rate to stay at 4.9 pct where it was in August, a historic low. Source: XFN 12 Oct 2006 Freddie | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | user="Freddie" post="68584" wrote ... Australian shares outlook - Slightly higher on M&A activity Share prices are expected to open slightly higher as further merger and acquisition activity adds spark to the market, offsetting indifferent offshore leads and renewed interest rate concerns, dealers said. They said Promina's announcement that it had received a 7.87 bln aud share and scrip offer from Suncorp-Metway will see the market focus on the financial services sector. But dealers said heightened interest rate concerns following a speech by Reserve Bank of Australia governor Glenn Stevens last night, in which he highlighted the need to remain vigilant on the inflation front, will limit gains. National Australia Bank market economists said, in a note, that the speech indicates the central bank stands ready to hike again after its Nov 7 board meeting unless there is a noticeable pullback in underlying inflation in the September quarter. The consumer price data for the September quarter will be released on Oct 25. The S&P/ASX 200 December futures contract ended its overnight session up 1.0 point at 5,279.0. Yesterday, the S&P/ASX 200 ended up 34.2 points or 0.65 pct at its high for the day of 5,282.8. The All Ordinaries Index finished up 33.6 points at 5,245.3. In New York, share prices pulled back after aluminum producer Alcoa Inc kicked off earnings season with a weaker-than-expected profit report and minutes from the Federal Reserve's last meeting stoked concerns about the economy. The Dow Jones Industrial Average fell 15.04 points or 0.13 pct to 11,852.13. News Corp eased 0.71 pct and National Australia Bank's American Depositary Receipts slipped 0.04 pct. In London, share prices were a tad higher as blue chip merger and acquisition talk and a rebound in miner Vedanta offset a weak start on Wall Street. The FTSE 100 closed up 0.8 point at 6,073.5. BHP Billiton fell 0.32 pct and Rio Tinto eased 0.62 pct. Crude oil prices fell to fresh 2006 lows below 58 usd a barrel on the lack of a formal OPEC agreement to cut production. The November Nymex crude contract fell 0.93 usd to end at 57.59 usd a barrel, although touching 57.44 in after-hours trade. Base metal prices were firmer in London trade as investors responded to tight market supplies. In New York, the price of gold was little changed, affected by the conflicting forces of a firmer US dollar and weaker oil price. The December benchmark Comex gold contract rose 0.30 usd to 576.50 usd an ounce. Ahead in Australia, September labor force figures will be released with the data expected to indicate a still tight labor market, adding to the case for another hike in interest rates. The market consensus is for the unemployment rate to stay at 4.9 pct where it was in August, a historic low. Source: XFN 12 Oct 2006 AUSTRALIA & NEW ZEALAND: -Australia Sept unemployment rate steady at adj 4.8 pct from Aug -Australian Treasurer Costello sees economy cooling as drought hits -Australian senate approves media ownership legislation -Suncorp on Creditwatch after bid for Promina - S&P -Suncorp-Metway says Promina merger will bring efficiencies -Promina says received 7.87 bln aud offer from Suncorp-Metway -Santos reports discovery from Dua-5X well offshore Vietnam -China Metallurgical signs MoU to develop Australian iron ore project -United Group expects less earnings variability -PMP says was approached by private equity firm -North West Shelf venture renews LNG supply deal with Chubu Source: XFN 10-12-06 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Harvey Norman Q1 sales rise 18.1 pct to 1.25 bln aud yr-on-yr -Graincorp cuts winter crop forecast to 2-4 mln tons from 9 mln -Oxiana says has not received takeover offers Source: XFN 13 Oct 2006 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Macquarie Bank consortium to buy UK's Thames Water for 8 bln stg -Lihir Gold, Ballarat Gold to merge to create 4 bln aud mining firm -Sino Gold forms new jv for gold exploration in China -Leighton jv to build Melco/PBL casino in Macau worth 1.3 bln usd -Orica acquires mining services company Minova for 857 mln aud -Cape Lambert signs preliminary stake deal with China's Xinxing Source: XFN 17 Oct 2006 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Mexico's Cemex says 11.7 bln usd offer for Australia's Rinker fully valued -Rinker board rejects 16.8 bln aud offer from Mexico's Cemex -Rinker 'BBB+' on negative watch after Cemex takeover bid - S&P -Newcrest 3 mths to Sept gold output down 5.5 pct yr-on-yr -Mayne Pharma gets approval to market anti-cancer drug in Germany -NZealand's The Warehouse privatization cancelled -Santos signs production sharing contract in Vietnam Source: XFN 30 Oct 2006 Hong Kong Trader | |||
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| Registered Member #14 Joined: Tue Apr 01 2003, 09:29PMLocation: Sydney, Australia Posts: 1560 | Share prices are expected to open lower on mixed overseas leads, including losses in commodity prices, dealers said. They said investors will be inclined to take profits following a trend seen on Friday, with key focus on a statement later today from the Reserve Bank of Australia on its economic outlook. The statement is expected to provide an upbeat view of the economy, suggesting there may be reasons for another interest rate hike in the early part of calendar 2007 after last week's 25-basis-point rise in the central bank's official cash rate to 6.25 pct. The S&P/ASX 200 December futures contract ended its last session down 13.0 points at 5,419.0, suggesting a weaker start to trading. On Friday, the S&P/ASX 200 ended down 7.7 points or 0.14 pct at 5,436.7. The All Ordinaries Index shed 26.5 points to settle at 5,398.6. In New York, the Dow Jones Industrial Average rose 5.13 points to 12,108.43. News Corp ended up 1.50 pct while National Australian Bank's American Depositary Receipts fell 0.61 pct. In London, the FTSE 100 index ended down 23.1 points at 6,208.4. BHP Billiton dropped 2.59 pct and Rio Tinto fell 2.77 pct. Base metal prices slumped on Friday, weighed down by a 5.6 pct fall in the price of copper to four-month lows following a sharp rise in inventories. The price of gold fell as traders elected to take profits after solid gains on Thursday. The December benchmark Comex gold contract fell 6.70 usd to close at 630.10 usd an ounce. Crude oil prices retreated after the International Energy Agency (IEA) reported a sharp rise in energy stocks in top consuming nations and forecast a decline in the world's need for OPEC crude. Light sweet crude ended down 1.57 usd at 59.59 usd a barrel on the New York Mercantile Exchange after the IEA lowered its forecast for worldwide demand this year. Source: AFX 11-12-06 Freddie | |||
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| Registered Member #14 Joined: Tue Apr 01 2003, 09:29PMLocation: Sydney, Australia Posts: 1560 | user="Freddie" post="69946" wrote ... Share prices are expected to open lower on mixed overseas leads, including losses in commodity prices, dealers said. They said investors will be inclined to take profits following a trend seen on Friday, with key focus on a statement later today from the Reserve Bank of Australia on its economic outlook. The statement is expected to provide an upbeat view of the economy, suggesting there may be reasons for another interest rate hike in the early part of calendar 2007 after last week's 25-basis-point rise in the central bank's official cash rate to 6.25 pct. The S&P/ASX 200 December futures contract ended its last session down 13.0 points at 5,419.0, suggesting a weaker start to trading. On Friday, the S&P/ASX 200 ended down 7.7 points or 0.14 pct at 5,436.7. The All Ordinaries Index shed 26.5 points to settle at 5,398.6. In New York, the Dow Jones Industrial Average rose 5.13 points to 12,108.43. News Corp ended up 1.50 pct while National Australian Bank's American Depositary Receipts fell 0.61 pct. In London, the FTSE 100 index ended down 23.1 points at 6,208.4. BHP Billiton dropped 2.59 pct and Rio Tinto fell 2.77 pct. Base metal prices slumped on Friday, weighed down by a 5.6 pct fall in the price of copper to four-month lows following a sharp rise in inventories. The price of gold fell as traders elected to take profits after solid gains on Thursday. The December benchmark Comex gold contract fell 6.70 usd to close at 630.10 usd an ounce. Crude oil prices retreated after the International Energy Agency (IEA) reported a sharp rise in energy stocks in top consuming nations and forecast a decline in the world's need for OPEC crude. Light sweet crude ended down 1.57 usd at 59.59 usd a barrel on the New York Mercantile Exchange after the IEA lowered its forecast for worldwide demand this year. Source: AFX 11-12-06 AUSTRALIA'S ALL ORDS OPENS DOWN 17.4 PTS AT 5,391.8 Freddie | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Australia central bank sees moderating inflationary pressures -Australia central bank maintains tightening bias - market economists -BHP Billiton increases Gulf of Mexico interest in 594 mln usd deal -Orica yr to Sept net profit 539.1 mln aud vs 208.3 mln -Lion Nathan yr to Sept net profit 226.8 mln aud vs 201.9 mln -James Hardie H1 net profit 56.6 mln usd vs 103.5 mln -James Hardie H1 net profit drops 45 pct after asbestosis provisions -Orica sees higher yr to Sept 2007 net profit before one-offs -Lion Nathan warns short-term earnings growth may slow -Macarthur Coal CEO steps down after political influence allegations Source: XFN 13 Nov 2006 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Australian government budget surplus forecasts too optimistic - Access Economics -Origin Energy acquires Queensland's Sun Retail for 1.2 bln aud -AGL buys Queensland gas retail business for 75 mln aud -Zinifex says strong zinc prices offsetting cost increases -Wesfarmers may buy Linde Gas Australia from Germany's Linde for 500 mln aud -Tabcorp yr to date revenue up 3.9 pct but costs also higher -Macquarie Infrastructure keeps 0.20 aud distribution guidance -ABB Grain yr to Sept net profit 66.7 mln aud vs 41.7 mln -ABB Grain warns drought may hit yr to Sept 2007 profits Source: XFN 27 Nov 2006 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND: -Australian inflation set to fall below 2 pct in 2007 - Reserve Bank official -AWB 'BBB' on negative watch after Cole inquiry - S&P -Multiplex plans to establish European property fund -Toll Holdings see shareholder value in Virgin Blue stake Source: XFN 28 Nov 2006 Hong Kong Trader | |||
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| Registered Member #268 Joined: Tue Jun 24 2003, 03:15PMLocation: Canberra, Australia Posts: 289 | Australian shares end 2006 at record levels, S&P/ASX200 up 19 pct over yr Share prices closed up, ending the year at fresh record highs, although the market lacked strong momentum in today's shortened trading session, dealers said. While some investors were tempted to lock in profits they largely held off doing so given upbeat factors such as strong prospects for corporate earnings, merger and acquisition activity, and price earnings multiples deemed still not excessive despite the market's record breaking run this year. The S&P/ASX 200 rose 9.4 points or 0.17 pct to finish at a new all time high of 5,669.9. It was the third day in a row for the index to post a record close. During the session the benchmark index also touched a fresh intraday all-time high of 5,684.4, beating the previous record of 5,673.7 on Thursday. For the year, the S&P/ASX 200 rose 906.5 points or 19.0 pct, beating last year's 17.6 pct rise. The All Ordinaries Index advanced 10.3 points to end at a new record high of 5,644.3, beating yesterday's all-time finishing high of 5,634.0. It also touched a fresh intraday record of 5,657.4, surpassing the previous record of 5,645.7 on Thursday. For the year the broad market index rose 935.5 points or 19.9 pct compared with a rise of 16.1 pct in 2005. Dealers said leading gold miner Newcrest, was one of the standout performers in the final trading session for the year, boosted by gold prices rising to their highest level in three weeks. Source: XFN 29 Dec 2006 Once a jolly jumbuck camped by the billabong.... | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND economic and corporate news summary 28 Dec 2006 -Mt Gibson raises iron ore prices 9.5 pct in line with majors -Qantas frequent flyer program unaffected by proposed takeover Source: XFN 28 Dec 2006 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | AUSTRALIA & NEW ZEALAND economic and corporate news summary 29 Dec 2006 -Nov private sector credit up 1.1 pct from Oct, up 15 pct yr-on-yr -Macquarie Bank unit sells ATM network to Customers Ltd Source: XFN 29 Dec 2006 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia economic and corporate news summary 02 Jan 2007 -Australia AIG Dec manufacturing index falls two points from Nov -European Gaming lifts offer for UK's Talarius -Domino's Pizza buys more European pizza outlets Source: XFN 02 Jan 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia economic and corporate news summary 03 Jan 2007 -Australia oil fields off north west coast shut down due to approaching cyclone -Village Roadshow revises yr to June profit forecast to 36 mln aud Source: XFN 03 Jan 2007 Hong Kong Trader | |||
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| Registered Member #14 Joined: Tue Apr 01 2003, 09:29PMLocation: Sydney, Australia Posts: 1560 | Australian shares outlook - Lower after weak New Year start on Wall St Share prices are expected to open lower, dragged down by a weak start to the New Year on Wall Street where interest rate concerns were rekindled following the release of the Federal Open Market Committee December meeting's minutes which highlighted inflation as a continuing concern, dealers said. They said a fall in the oil price and mixed metal prices will also weigh on the market although corporate activity may limit losses as well as a modest recovery in New York near the close of the first trading session of the year. Media reports today suggest that two of Australia's largest energy suppliers, AGL Energy and Origin Energy, are considering a 14 bln aud merger. The S&P/ASX 200 March futures contract ended its overnight session down 26.0 points at 5,625.0, suggesting a weak start to trading. Yesterday, the S&P/ASX 200 closed down 20.9 points or 0.37 pct at 5,649.3, off a fresh all-time intraday high of 5,698.2 struck during the morning session. The broader All Ordinaries index finished down 19.1 points at 5,626.8 after also touching a fresh record intraday high of 5,671.1. Dealers said the market lacked momentum, noting that the volumes were light with many investors still on summer holidays. In New York, share price gave up substantial early gains after minutes from the FOMC's December 12 showed inflation remains a concern as well as the severity of the pullback in the US housing sector. The Dow Jones Industrial Average ended up 11.37 points at 12,474.52. News Corp ended down 0.04 pct and National Australia Bank's American depositary receipts rose 0.44 pct. In London, share prices made modest gains as support for banks offset a slump in energy stocks following a retreat in the oil price. The FTSE 100 ended up 8.1 points at 6,319.0. BHP Billiton fell 3.02 pct while Rio Tinto lost 3.70 pct. Crude oil prices fell 4.5 pct on Wednesday after Saudi Arabia reduced the February price of its Arab light crude for US buyers to a 10-month low. Mild weather in the US also continues to weigh on prices. The February Nymex crude contract fell 2.73 usd to 58.32 usd a barrel and dropped below 58 usd in after-hours trade. Base metal prices were mixed in London trade. Copper fell to fresh eight-month lows, down 4.2 pct pressured by higher stocks. In contrast lead rose 4.3 pct to be within sight of its record highs. The price of gold slumped in response to a stronger US dollar and the sharply lower oil price. After initially trading up to 647.30 usd an ounce, the February benchmark Comex gold contract fell 8.20 usd to 629.80 usd an ounce. Ahead, the Australian Industry Group's December performance of services index will be released. Source: XFN 03 Jan 2007 Freddie | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 04 Jan 2007 -Australian Nov trade deficit 785 mln nzd, lower than expected -Australian Dec AIG services performance index up 1.0 pt from Nov, still below 50 -Asian airline profits forecast to fall in 2007 as competition increases - IATA -Toyota tops Australia car sales for 5th straight year - FCAI -Admiralty to develop Chilean port for iron ore exports to China -AGL Energy confirms in merger talks with rival Origin -Origin Energy says AGL Energy's merger approach unsolicited -OnCard International acquires 27 pct of Hong Kong's Coverdrive Source: XFN 04 Jan 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 15 Jan 2007 -Australia Nov housing finance by volume falls 0.6 pct vs Oct -Macquarie Airports may sell stake in UK's Brimingham Airport -Harvey Norman six months to Dec sales up 16.7 pct yr-on-yr -HK-listed CITIC Pacific eyes Australia's Cape Lambert iron ore project -Telstra seeks 600 mln aud in govt funding to expand broadband -Babcock & Brown Wind Partners acquires German wind farm -Australian Wealth Management to buy pension funds from Zurich Financial -Petsec to launch onshore gas project in Louisiana -Germany's Bosch extends offer for Australia's Pacifica to Feb 25 Source: XFN 15 Jan 2007 Hong Kong Trader | |||
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| Registered Member #14 Joined: Tue Apr 01 2003, 09:29PMLocation: Sydney, Australia Posts: 1560 | Australian shares at record highs on broad gains led by resources sector Share prices were trading at fresh record highs on broad buying support led by the resources sector following rises in oil, gold and base metal prices, dealers said. They said a turnaround in the oil price, which last week fell below 50 usd a barrel for the first time since May 2005, an improved copper price and nickel hitting fresh record highs on supply constraints has seen renewed support for resources stocks, including BHP Billiton and Rio Tinto. At 10.30 am the S&P/ASX 200 was up 39.8 points or 0.71 pct at 5,713.2 after hitting a fresh record intra day high of 5,721.6 soon after the market opened, surpassing the previous all-time high of 5,705.4 struck on Jan 16. The broader All Ordinaries Index as up 36.7 points at 5,688.8 after reaching a fresh intra-day record high of 5,698.4 in early deals, beating the previous record of 5,652.1 struck at the end of trade on Friday. BHP Billiton was up 0.46 aud or 1.85 pct at 25.26, Rio Tinto was up 0.70 or 0.98 pct at 72.35 aud while Woodside Petroleum was up 0.61 aud or 1.70 pct at 36.43. Transport stocks were also higher despite a recovery in oil prices on Friday. Toll Holdings was up 0.32 or 1.6 pct at 20.27 after hitting a record 20.45 in early deals while Qantas was up 0.01 at 5.37. Source: XFN 01-22-07 Freddie | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 22 Jan 2007 -Australia Q4 final PPI up 0.2 pct vs 1.0 pct in Q3 -Australia Dec new vehicle sales rise 0.8 pct from Nov -OneSteel Whyalla sees FY EBITDA falling 15-30 mln aud due to floods -Yilgarn Mining identifies potential 30 mln tons iron ore resource -Santos wins gas supply contract from Newmont worth over 90 mln aud -Rinker expands into US northwest through acquisition -Grange receives approvals for Malaysian iron ore pellet plant Source: XFN 22 Jan 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 29 Jan 2007 -Rabobank sees global economic growth supporting agricultural product prices -Coal & Allied 2006 net profit 206.8 mln aud vs 291.0 mln -Coal & Allied calls for port reform after Dec yr profit falls 29 pct -GUD Holdings interim profit drops 26 pct; outlook positive -Alinta sets conditions for Macquarie's role in buy-out proposal Source: XFN 29 Jan 2007 Hong Kong Trader | |||
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| Registered Member #14 Joined: Tue Apr 01 2003, 09:29PMLocation: Sydney, Australia Posts: 1560 | Australian shares outlook - Lower as miners suffer from fall in metal prices SYDNEY (XFN-ASIA) - Share prices are expected to open lower, dragged down by miners which are expected to be under selling pressure following sharp falls in gold, copper and zinc prices on Friday, dealers said. But they said losses are likely to be limited by support in the broader market as investors anticipate solid earnings reports in the week ahead although forward momentum may be lacking as the market pauses after reaching record levels last week. The S&P/ASX 200 March futures contract ended its last session unchanged at 5,793.0 suggesting a flat start to trading. Australand Property Group is the only S&P/ASX 200 company scheduled to report half-year earnings today but later in the week majors including BHP Billiton are due to report. BHP is expected to report a record 6.3 bln usd for the half year to December, fueled by higher prices and record output of products such as iron ore, aluminum, alumina and manganese ore. The Reserve Bank of Australia holds its first policy meeting for the year tomorrow. A fall in December quarter inflation means the central bank is not expected to lift its official cash rate from its current level of 6.25 pct. The outcome of the meeting will be announced on Wednesday. On Friday, share prices closed at fresh record highs as sentiment remained broadly bullish. The S&P/ASX 200 ended up 17.4 points or 0.30 pct to a new record close of of 5,831.5. The key index also hit a fresh intraday record of 5,841.3. The broader All Ordinaries index gained 17.6 points to settle at a new all-time high of 5,814.4, after setting a new intraday record of 5,821.3. In New York, share prices ended narrowly mixed on Friday after the market absorbed a weaker-than-expected employment report that curbed bullish sentiment after three consecutive days of gains to record highs. The Dow Jones Industrial Average ended down 20.19 points at 12,653.49. News Corp ended up 0.20 pct while National Australia Bank American Depositary Receipts finished down 0.28 pct. In London, share prices were strong over last week, reflecting optimism on the other side of the Atlantic and continuing merger and acquisition speculation. The FTSE 100 ended up 28.7 points at 6,310.9 on Friday. BHP Billiton fell 0.10 pct while Rio Tinto dropped 2.14 pct. Crude oil prices rose sharply again on Friday as investors covered positions on prospects for much colder weather in the US Northeast over the coming week. The March Nymex crude contract rose 1.72 usd or 3.0 pct to settle at 59.02 usd a barrel. Base metal prices dived on the London Metal Exchange on Friday on reports of heavy hedge fund losses. The spot zinc price slid 9.3 pct with the futures quote off 6.3 pct. Copper fell 4.6 pct to a 10-month low. Gold fell as technical charts prompted investors to take profits. The most active April Comex gold contract fell 11.50 usd to end at 651.50 usd an ounce. Ahead in Australia, December retail trade and building approvals data will be released as well as ANZ's January survey of job advertisements. Source: XFN 05 Feb 2007 Freddie | |||
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| Registered Member #14 Joined: Tue Apr 01 2003, 09:29PMLocation: Sydney, Australia Posts: 1560 | Australian shares outlook - Flat on lack of offshore leads, focus on earningsSYDNEY (XFN-ASIA) - Share prices are expected to open flat on a lack of fresh leads with investors likely to focus on earnings reports including BHP Billiton's 41.3 pct jump in first-half net profit to 6.168 bln usd announced this morning, dealers said.They said investors will be comforted by an increased interim dividend of 0.20 usd a share, versus last year's payout of 0.175 usd, as well as the announcement of an additional 10.0 bln usd capital return representing 9.1 pct of the group's capital. Despite the improved profit, BHP's half-year income came in below the market's consensus forecast of 6.248 bln usd. Building and construction materials group Boral will also report its half-year results today with its earnings expected to have been suppressed by a downturn in housing markets on the east coast of Australia and in the US. As well, the outcome of the Reserve Bank of Australia's first policy meeting this year, held yesterday, will be known before the market opens. Economists believe the central bank will be comfortable with signs of inflationary easing and will leave its official cash rate unchanged at 6.25 pct. The S&P/ASX 200 March futures contract ended its overnight session down 4.0 points at 5,848.0, suggesting a flat start to trading. Yesterday, share prices closed at new record highs as investors bought blue chip stocks including BHP Billiton as well as banks. The S&P/ASX 200 ended up 48.4 points or 0.83 pct at a record 5,870.5, after hitting a fresh intraday all-time high of 5,871.5. The broader All Ordinaries index climbed 43.4 points to a new record closing high of 5,848.5. The index also set a new intraday record of 5,849.3. In New York, shares struggled to close higher with a lack of economic or corporate news providing investors with little reason to change positions. The Dow Jones Industrial Average closed up 4.57 points at 12,666.31. News Corp finished down 0.25 pct ahead of its December quarter report to be released in New York Wednesday while National Australia Bank's American Depositary receipts ended up 1.71 pct. In London, share prices closed firmer, but below a six-year high struck earlier in the session. Cable & Wireless rallied on takeover speculation and defence and retail stocks were also higher. BHP Billiton rose 0.25 pct ahead of its half-year results while Rio Tinto added 0.11 pct. Crude oil prices again failed to push through 60 usd a barrel. Cold weather in the US north - dubbed the "chiller thriller" - drove oil to 59.99 usd a barrel, but late day profit-taking as well as technical factors left prices little changed on the day. The March Nymex crude contract rose 0.14 usd to settle at 58.88 usd a barrel. Base metal prices were firmer on the London Metal Exchange on Tuesday. The price of copper jumped 2.5 pct in response to lower inventory levels while zinc gained 4.0 pct. Gold prices also rose in response to the upward drift in energy prices. The most active April Comex gold contract rose 2.60 usd to close at 658.70 usd an ounce. Source:Â XFNÂ 02-06-07 Freddie | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 08 Feb 2007 -Jan jobless rate falls to 4.5 pct from 4.6 pct in Dec, new 30-yr low -Qantas H1 net profit 358.7 mln aud vs 352.8 mln -Lion Nathan sees yr to Sept net profit of 245-260 mln aud -WorleyParsons H1 net profit 94.5 mln aud vs 61.8 mln -WorleyParsons acquires Canada's Colt Group for 1.13 bln aud -Corporate Express 2006 net profit 67.6 mln aud vs 66.1 mln -Rural Press H1 to Dec net profit 63.1 mln vs 58.6 mln -Futuris H1 net profit 33.1 mln aud vs 31.1 mln -SingTel's Australian unit Optus grows mkt share despite Q3 to Dec earnings fall Source: XFN 08 Feb 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australian shares outlook - Slightly lower on profit-taking after record run Share prices are expected to open slightly lower on end of the week profit-taking after a record breaking run, dealers said. They said mixed signals from offshore markets will be used as an excuse to take to the sidelines while there is also a break in the earnings reporting season with only one chip blue chip due to report its first-half results today - West Australian Newspapers Ltd. The S&P/ASX 200 March futures contract ended its overnight session up 1.0 point at 5,872.0, suggesting a mostly flat start to trading. Yesterday, the S&P/ASX 200 ended down just 0.3 point or 0.09 pct at 5,899.5, slipping from Wednesday's record of 5,899.8. The broader All Ordinaries index though added 2.0 points to a fresh record close of 5,872.9. The index also set a new intraday record of 5,880.5. In New York, the impact of the US housing slowdown was seen in a warning by luxury home builder Toll Brothers of an expected 19 pct fall in first quarter home sales revenue while HSBC warned that bad debts from its US mortgage business will hurt earnings. The Dow Jones Industrial Average closed down 29.24 points, or 0.23 pct, at 12,637.63. News Corp advanced 2.59 pct after its bullish December quarter earnings report on Wednesday while National Australia Bank's American Depositary Receipts eased 0.06 pct. In London, share prices closed lower as investors focused on a mixed earnings results and corporate news. The FTSE 100 index ended down 23.1 points at 6,346.4. BHP Billiton eased 0.91 pct, partially giving back strong gains on Wednesday after the world's largest diversified resources group announced a massive 10 bln usd share buyback. Rio Tinto lost 1.36 pct. Crude oil prices posted solid gains late in Thursday's US session. Traders are focused on the cold spell across the US with demand for heating oil 20 pct above normal this week. The March Nymex crude contract rose 2.00 usd to settle at 59.71 usd a barrel. Base metal prices were mixed on the London Metal Exchange on Thursday. Aluminum and lead were the only metals to rise, both gaining 1.3 pct Traders report that many fund managers are looking to switch from commodities into equities, bonds and currencies. The price of gold jumped in response to a weaker US dollar. The most active April Comex gold contract rose 5.50 usd to close at 662.80 usd an ounce. Ahead in Australia, housing finance data for December will be released. Source: XFN 2-08-07 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 09 Feb 2007 -Australia Dec housing finance by volume rises 0.1 pct from Nov -West Australian Newspapers H1 net profit 56.1 mln aud vs 24.0 mln -Santos says gas found in Caldita field off northern Australia -QBE acquires 14.9 pct stake in Austbrokers Source: XFN 09 Feb 2007 Hong Kong Trader | |||
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| Registered Member #268 Joined: Tue Jun 24 2003, 03:15PMLocation: Canberra, Australia Posts: 289 | Australian shares outlook - Higher on positive offshore leads SYDNEY (XFN-ASIA) - Share prices are expected to open higher with the key market indices in reach of fresh all-time highs as investors react to positive offshore leads including a slightly firmer finish on Wall Street on Friday and higher commodity prices, dealers said. They said local factors are also driving the market higher including robust earnings reports for the first half to December which have been accompanied by higher dividends and share buybacks. Banking and insurance group Suncorp-Metway is due to report its half-year earnings today ahead of its merger with insurance group Promina which just released its full-year results. Dealers said gains today may be limited with investors likely to sit on the sidelines awaiting offshore markets to reopen, including Wall Street which will be closed Monday for the Presidents' Day holiday. The S&P/ASX 200 March futures contract ended its last session up 11.0 points at 5,935.0, suggesting a positive start to trading. On Friday, the S&P/ASX 200 ended down 39.1 points or 0.65 pct at 5,953.7. The broader All Ordinaries index lost 33.6 points to close at 5,935.5. In New York, a larger-than-expected drop in housing starts saw a mixed performance on Wall Street. The Dow Jones Industrial Average ended up 2.56 points at 12,767.57, marking its third straight record close last week. News Corp rose 0.04 pct while National Australia Bank's American Depositary Receipts fell 1.37 pct. In London, the FTSE 100 ended down 13.8 points at 6,419.5. BHP Billiton fell 0.50 pct and Rio Tinto dropped 1.24 pct. Oil prices rose sharply on Friday after the US warned of fresh attacks by militants in Nigeria, the world's eighth largest oil exporter. The March crude contract rose 1.40 usd to settle at 59.39 usd a barrel on the New York Mercantile Exchange. Base metal prices were mixed on the London Metal Exchange on Friday. Lead rose 1.3 pct but other metals were generally weaker as traders elected to take profits ahead of a holiday weekend in the US and the Lunar New Year holiday in China. Gold prices posted modest gains, assisted by a weaker US dollar and rise in the price of oil. The most active April Comex gold contract jumped 1.40 usd to 672.80 usd an ounce but was below the six-month high of 676.60 usd set last Wednesday. 18 Feb 2007 22:22 GMT Once a jolly jumbuck camped by the billabong.... | |||
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| Registered Member #14 Joined: Tue Apr 01 2003, 09:29PMLocation: Sydney, Australia Posts: 1560 | Australian shares fall more than 1.0 pct in morning trade Share prices fell more than 1.0 pct in morning trade, continuing a global rout that began with last week's selloff in Chinese markets, dealers said. They said selling was widespread with index leader BHP Billiton as well as Rio Tinto among stocks most under pressure together with more speculative stocks such as uranium explorers which had enjoyed strong advances before last week's sell-off. At 1:00 pm Sydney the S&P/ASX 200 was down 78.3 points or 1.35 pct at 5,707.7 while All Ordinaries index was down 81.8 points or 1.42 pct at 5,693.4. Only last Monday the key indices reached all time highs with the S&P/ASX 200 closing at a record 6,044.0 and the All Ordinaries ending at a record 6,021.9. CommSec chief equities economist Craig James said Asian markets opening weaker after a further sell-off in New York added to buying pressure. James described the correction as "one we had to have" after a record-breaking run but said he is not concerned. "I would only be concerned if there was something fundamentally wrong and that is not the case," he said. He noted that the sell-off has seen the S&P/ASX 200 aggregate historical price earnings multiple slip back to 13.9 times from around 15.5 times. James said banks were holding up relatively well, suffering much less falls than more risky sectors as investors held on to defensive stocks. At 1:00 pm, BHP Billiton was down 0.54 aud or 1.99 pct at 26.58 aud and Rio Tinto was down 1.48 or 1.96 pct at 73.98. Alumina, which announced a 250 mln aud share buy back, was up 0.12 or 1.76 pct at 6.92. Uranium stock Paladin was down 0.85 aud or 9.58 pct at 8.02 and ERA, which mines uranium in northern Australia was off 1.24 aud or 5.02 pct at 23.44. Commonwealth Bank was down 0.23 or 0.46 pct at 49.42, National Australia Bank was off 0.17 or 0.43 pct at 39.73, ANZ lost 0.16 or 0.55 pct and Westpac shed 0.16 or 0.64 pct to 24.93. Source: XFN 05 Mar 2007 Freddie | |||
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| Registered Member #14 Joined: Tue Apr 01 2003, 09:29PMLocation: Sydney, Australia Posts: 1560 | Australian shares higher in early afternoon trade after weak opening Share prices staged a recovery from a weaker opening to trade higher for the first time in six sessions, regaining more than one pct by early afternoon, dealers said. In the last five sessions the market had fallen nearly 6.5 pct. They said investors were cautiously seeking bargains while selling momentum caused by the unwinding leveraged positions appears to have run its course. Dealers said firmer Asian markets also encouraged buying. At 1:40 pm, Sydney, the S&P/ASX 200 was up 67.8 points or 1.2 pct at 5,721.4 while the All Ordinaries Index was up 59.1 points or 1.05 pct at 5,701.5. Index leader BHP Billiton was up 0.55 aud or 2.09 pct at 26.89 while Rio Tinto was up 0.99 or 1.35 pct at 74.58. National Australia Bank was up 0.39 or 0.99 pct at 39.85 and Commonwealth Bank was up 0.50 or 1.02 pct at 49.52. AMP Capital Markets head of investment strategy Shane Oliver said further weakness is possible but he sees the downturn experienced over the past week as just another correction in a continuing bull market. "Shares are not overvalued and global growth will slow enough to take pressure off interest rates but not so much as to crunch profits," Oliver said. Source: XFN 06 Mar 2007 Freddie | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 06 Mar 2007 -Australia Jan trade deficit 876 mln aud vs 1.379 bln in Dec -Australia Jan building approvals fall 0.9 pct mth-on-mth -Australia sees yr to June commodity exports up 7.1 pct at record 147.6 bln aud -Asia low cost carriers set to gain mkt share at expense of flag carriers - CAPA -Govt says it won't stop 11.1 bln aud Qantas takeover -James Hardie 9-mth net profit falls 67 pct on asbestosis claims -PBL restructures gaming division to pursue overseas growth Source: XFN 06 Mar 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 08 Mar 2007 -NZealand central bank raises official cash rate to 7.50 pct, may hike further -NZealand central bank maintains hawkish stance - Commonwealth Bank -Australian regulator says will not block Sydney Roads Group takeover -United Group wins 270 mln aud in power, water projects -Australian Pharmaceutical says Q3 operating profit in line with expectations Source: XFN 08 Mar 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 12 Mar 2007 -Australia Jan housing finance by volume rises 0.3 pct from Dec -D&B Feb business survey shows improving sentiment -Rio Tinto sees investment in new projects as substantially raising copper output -Rio Tinto sees strong demand for products led by China as output response slow -Suncorp-Metway proposes 1.17 bln aud entitlements issue -Sims buys Californian electronics recycling business from Xstrata -Macquarie Bank deputy chairman to retire Source: XFN 12 Mar 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 21 Mar 2007 -Australia Feb new vehicle sales unchanged from Jan -Westpac Jan leading index up 4.8 pct yr-on-yr vs 5.4 pct rise in Dec -David Jones H1 net profit 170.3 mln aud vs 54.5 mln -David Jones H1 underlying profit up 30.4 pct on better sales, margins -Qantas to increase capacity on domestic routes -Virgin Blue places 2.6 bln aud Boeing 777 order for intl ops -QBE raises about 452 mln aud through dividend reinvestment plan -Suncorp-Metway credit rating upgraded to 'A+' - S&P -China's Shougang to fund studies on Australia's South Balmoral iron ore projec -Bendigo Bank recognizes advantages in forming larger group -Avexa seeks to raise 75 mln aud for anti-HIV drug trial Source: XFN 21 Mar 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 30 Mar 2007 -Australia Feb private sector credit up 1.4 pct from Jan, up 15.0 pct yr-on-yr -NZealand 2006 GDP up 1.5 pct, Q4 GDP up 0.8 pct from Q3; lower than expected -WIN Corp makes 146.2 mln aud offer for Channel Nine Perth -Alinta backs B&B/Singapore Power's 7.5 bln aud bid -Seven Network/KKR joint venture readies for new media ownership laws -China's Ding to hold options for 13.7 pct stake in Australia's Cape Lambert -Macquarie says failed bid for Alinta pitched at 15.45 aud a shr Source: XFN 30 Mar 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 03 Apr 2007 -Australia Feb trade deficit 838 mln aud vs deficit 832 mln in Jan -Wesfarmers gains 11.3 pct of Coles, Premier confirms sale of 5.9 pct -Wesfarmers placed on Creditwatch by S&P after Coles share raid -Origin to invest further 53 mln to boost coal seam gas output -Transfield says Air NZealand cancels outsourcing contract Source: XFN 03 Apr 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 04 Apr 2007 -Australia's central bank leaves official cash rate unchanged at 6.25 pct -Wesfarmers offers 19.7 bln aud for Coles Group -Bank of Queensland H1 to Feb net profit 48.4 mln aud vs 40.0 mln -Bank of Queensland H1 net profit up 21 pct on increased lending -QBE sees 2007 net profit up 20 pct -APA Group to buy Origin Energy's network for 556.5 mln aud -Australian Industry Group March services index falls 3.9 pts to 50.6 -PBL/Macquarie Bank JV to acquire Canada's Gateway Casino -Carnegie Wylie buys major stake in Dun & Bradstreet Australia & NZ -Seven Network raises stake in Western Australian Newspapers -China's Sinosteel wins Australian govt approval to invest in uranium projects -Austar confirms M&A approaches Source: XFN 04 Apr 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 05 Apr 2007 -Australian steelmakers finalize consolidation deal -Minara on track for FY Murrin Murrin nickel production target -Rural Press preference shareholders approve merger with Fairfax -AGL gets regulatory approval to acquire TRUenergy's power station Source: XFN 05 Apr 2007 Hong Kong Trader | |||
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  Registered Member #506 Joined: Sat Jan 29 2005, 10:53AMLocation: Brisbane, Australia Posts: 316 | Australian shares outlook - Higher on firmer metal prices, US payrolls Share prices are expected to open higher as investors return from the four-day break buying resource stocks following gains in base metal prices in Chinese trading yesterday, dealers said. Investors are likely to foresee the London metals market taking its cue tonight from the Chinese lead when it too reopens after the long Easter weekend, they said. Dealers said the Australian share market is also expected to have a delayed rally from the strong 180,000 increase in US nonfarm payrolls for March which was released on Friday. The S&P/ASX 200 June futures contract ended its overnight session flat at 6,117.0 points due to the holiday. On Thursday, share prices closed lower as investors took profits from Wednesday's record levels and balanced portfolios ahead of the long Easter weekend. The S&P/ASX 200 closed down 20.1 points or 0.33 pct at 6,077.1, falling from Wednesday's record close of 6,097.2. The All Ordinaries index retreated 15.6 points to settle at 6,063.4, also down from Wednesday's record level of 6,079.0. In New York overnight, share prices were essentially flat as investors anxiously await the upcoming first-quarter earnings season while the strong employment numbers reduced sentiment that the Federal Reserve would cut interest rates in the short-term. The Dow Jones Industrial Average closed up 8.94 points or 0.07 pct at 12,569.14. News Corp closed up 0.52 pct while National Australia Bank's American Depositary Receipts rose 0.05 pct. The London stock market was closed yesterday for the Easter break. US crude oil prices retreated on Monday amid concerns over a supply glut at a key North American delivery point, with dealers ignoring reports that Iran had begun enriching uranium on an industrial scale. The May crude contract dropped 2.77 usd to settle at 61.51 usd a barrel on the New York Mercantile Exchange. Base metal prices rallied in Chinese trade on Monday, with both copper and zinc prices hitting the daily price limit of a 4.0 pct increase despite the recent increase in China's interest rates. Gold prices rose due to the sharp fall in the price of oil and a firmer US dollar. The June Comex gold contract fell 2.50 usd to 676.90 usd an ounce. Source: XFN 09 Apr 2007 Bandicoot | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 11 Apr 2007 -Australia Feb housing finance by volume rises 0.3 pct from Jan -Harvey Norman 9 mths to March sales up 16.8 pct yr-on-yr -Oil Search signs cost-sharing agreement for LNG project study -Summit enters into strategic alliance with France's Areva Source; XFN 11 Apr 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 13 Mar 2007 -Telecom Corp of New Zealand to submit own demerger plan to govt Source: XFN 13 Apr 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 19 Mar 2007 -Oxiana says Indonesian Martabe gold mine may produce 250,000 oz/year -Rio Tinto 3 mths to March output up as expansion offsets weather disruptions -Woodside sees reserves possibly doubling on Browse Basin development -Challenger pays 565 mln eur for global storage operator LBC Group -AXA Asia Pacific shareholders back Winterthur HK acquisition -Rural Press shareholders back merger with Fairfax Media -Foster's Group sells wine clubs business for 290 mln aud Source: XFN 19 Apr 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Share prices closed higher with investors buoyed by the gains on the Dow Jones Industrial Average, which closed above 13,000 points for the first time. They said investor sentiment continued to be supported by Tuesday's benign inflation data for the March quarter which showed the Reserve Bank of Australia is unlikely to raise interest rates in 2007. The S&P/ASX 200 ended up 24.0 points at 6,212.2. The All Ordinaries index rose 24.5 points to 6,197.8. Source: XFN 26 Apr 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australian shares outlook - Slightly higher after Dow sets new record Share prices are expected to open slightly higher as investors follow gains in New York where strong first quarter earnings pushed the Dow Jones Industrial Average to a fresh record close, dealers said. But they said the resources sector is likely to be a drag on the market following overnight declines in oil, gold and base metal prices. The S&P/ASX 200 June futures contract ended its overnight session down 3.0 points at 6,231.0. Yesterday, the S&P/ASX 200 ended up 24.0 points or 0.39 pct at 6,212.2. The All Ordinaries index rose 24.5 points to 6,197.8. In New York, share prices advanced on better-than-expected results including a smaller loss by Ford Motor Co. To date 17 out of 21 companies included in the Dow Jones index that have reported corporate earnings have surpassed analysts' expectations. The Dow Jones Industrial Average ended up 15.61 points or 0.12 pct at a record 13,105.50, having smashed through the 13,000 barrier for the first time on Wednesday. News Corp closed down 0.60 pct while National Australia Bank's American Depositary Receipts fell 2.06 pct. In London, share prices advanced modestly, helped by gains on Wall Street. The FTSE 100 index closed up 7.5 points at 6,469.4. BHP Billiton fell 1.04 pct and Rio Tinto lost 0.84 pct. Base metal prices were weaker across the board on the London Metal Exchange on Thursday. Copper led the moves down on technically driven selling. Traders said a stronger US dollar also put pressure on prices, making metals more expensive for European buyers. The US dollar gained ground against major currencies as traders positioned for tonight's first reading of first quarter US gross domestic product. The price of gold dropped as the dollar strengthened, prompting investors to move away from the precious metal. The June Comex gold contract fell 9.40 usd to 678.00 usd an ounce. US crude oil prices eased despite tightness in the gasoline market. The June crude contract rose to a high of 66.40 usd before ending down 0.78 usd at 65.06 usd per barrel on the New York Mercantile Exchange. Ahead, Rio Tinto holds its Australian annual general meeting in Perth. Source: XFN 27 Apr 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australian shares outlook - Higher led by resources on firmer commodity prices Share prices are expected to open higher, led by the resources sector following gains in commodity prices on Friday, dealers said. The S&P/ASX June futures contract ended its last session up 13.0 points at 6,206.0, suggesting a positive start to trading. Dealers said merger and acquisition activity is likely to dominate trading this week with the MacquarieBank-led Airline Partners of Australia consortium's 11 bln aud bid for Qantas Airways due to end this Friday. Coles Group will also be in focus with Wesfarmers, as part of a consortium, launching a 20 bln aud bid for Australia's second largest retailer. Industry leader Woolworths is also reportedly considering teaming up with UK grocer Tesco to possibly make a counter offer. Meanwhile, private equity firm Pacific Equity Partners is about to launch an offer for travel agent firm Flight Centre, according to weekend media reports. On Friday, share prices closed lower as investors took profits. The S&P/ASX 200 ended down 60.6 points or 0.98 pct at 6,151.6. The key index retreated 55.9 points or 0.90 pct over the trading week. The All Ordinaries index lost 56.8 points to close at 6,141.0. In New York, the Dow Jones Industrial Average, which smashed through the 13,000 barrier on Wednesday, continued to move further into record territory on Friday though in a flat market following softer than expected gross domestic product growth for the first quarter. The GDP data showed the US economy grew at an annual rate of 1.3 pct in the first quarter -- its slowest pace in four years. Growth was below economists' expectations of a 2.0 pct year-on-year rise and down sharply from 2.5 pct in the previous quarter. The Dow ended up 15.44 points or 0.12 pct at 13,120.94. News Corp closed down 1.38 pct and National Australia Bank's American Depositary Receipts eased 0.06 pct. In London, leading shares closed lower as Wall Street was flat in early trading following the weaker-than-expected GDP data, while a sell-off in mining stocks also weighed on the market. BHP Billiton fell 1.75 pct while Rio Tinto lost 0.75 pct. On Friday, the June crude oil contract settled up 1.40 usd at 66.46 usd a barrel on the New York Mercantile Exchange despite news that Saudi Arabia had foiled an Al-Qaeda-linked plot to attack the country's oil facilities The price of gold failed to break the 700 usd barrier last week as oil prices eased and the US dollar strengthened modestly though on Friday the precious metal again headed higher. Gold for June delivery settled up 3.80 usd at 681.80 usd a troy ounce on the New York Mercantile Exchange. Copper prices climbed on Friday on speculation that a slumping US dollar will encourage buyers holding other currencies to purchase the metal. Still, the metal's price dropped 2.4 pct last week, snapping a seven-week rally, on concern the weak US housing market will dampen demand. Copper for July delivery ended up 0.0235 usd at 3.5325 usd a pound on the New York Mercantile Exchange. Ahead, the Reserve Bank of Australia will release private credit data for March. The central bank's board meets tomorrow to consider monetary policy but a hike in its official cash rate from 6.25 pct is not expected following tame first quarter inflation data released last week. Earlier this morning, explosives maker Orica reported a 210.4 mln aud net profit for its first half to March, up from 123.7 mln in the same period last year. Source: XFN 30 Apr 2007 Hong Kong Trader | |||
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| Registered Member #475 Joined: Thu Dec 16 2004, 12:34PMLocation: Hong Kong Posts: 2041 | Australia & NZ economic and corporate news summary 30 Mar 2007 -Australia March private sector credit up 1.1 pct from Feb, up 14.8 pct yr-on-yr -Newcrest cuts year to June gold output guidance for Telfer mine -APA says offer for Qantas lapses on May 4 unless 50 pct gained -Orica H1 net profit 210.4 mln aud vs 123.7 mln -Orica H1 net profit rises 70 pct as explosives sales surge -Sino Gold raises gold estimate at China's Jinfeng mine to 4.6 mln oz -Amcor increases buyback size to 45.8 mln shares Source: XFN 30 Apr 2007 Hong Kong Trader | |||
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| alolex |
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 Registered Member #549 Joined: Sat Mar 12 2005, 11:08AMLocation: Singapore Posts: 815 | Australia's S&P/ASX 200 ended 0.9% lower at 6,297.4 and New Zealand's NZX-50 shed 0.6% to 4,226.39. Australian mining shares ended mixed amid declines in natural resource prices and growing skepticism of an imminent takeover bid by BHP Billiton for smaller rival Rio Tinto. Shares of BHP Billiton (BHP) fell 2.5% while Rio Tinto (RTP) nudged 0.1% higher. Dow Jones Newswires 05-12-07 The market is always there - finding it is the test  | |||
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