Business Confidence, Job Ads Improve
As was expected, business confidence jumped sharply in the wake of the September 7 election result, but that has had little impact on the still sluggish conditions locally for companies.
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World Bank Cuts East Asia, China Growth Forecasts
Mixed news for Australia and Australian exporters, such as miners, from the World Bank’s latest survey of the East Asian region, which contains some of our major export markets, led by China.
Read MoreThe Week Ahead
A truncated week for most of Australia won’t detract from impact of the most important domestic bit of news – the September employment report on Thursday.
Read MoreBudget Shutdown Becomes Debt Ceiling Brawl
The US Budget shutdown is fast becoming a debt ceiling brawl and US default fears are on the rise.
Read MoreLeighton Slammed By Corruption Claims
Shares in Leighton Holdings (LEI) plunged more than 10% or around $2 yesterday in the wake of the bribery and corruption allegations published in Fairfax Media newspapers.
Read MoreMirabela Priced To Fail By Investors
Despite owning one of the world’s biggest open cut nickel mines in Brazil, Mirabela Nickel (MBN) is struggling to remain afloat as it faces the loss of a major customer and has cash draining out of the business daily, while the company’s share price has plunged to new lows where it is pricing the company as a bust about to happen.
Read MoreShutdown Day 3, Debt Ceiling Looms
Day three of the US shutdown and slowly but surely the markets are starting to quiver as the debt ceiling deadline comes into focus.
Read MoreWarrnambool, Bega Battle Rolls On
Warrnambool Cheese and Butter Factory’s (WCB) defence against the $320 million hostile bid from Bega Cheese (BGA) continues to take the predictable route.
Read MoreDow Slips, Gold Jumps As US Shutdown Continues
Day two of the US government shutdown and markets remain confused, cautious, but with a touch of real concern starting to appear at the edges.
Read MoreRio Tinto Positive On WA Iron Ore, Mongolian Projects
Mining giant Rio Tinto (RIO) continues to make progress in its difficult talks with the Mongolian government on its hugely expensive Oyu Tolgoi copper and gold mine, and it’s also making rapid progress with work on its Pilbara iron ore expansion plan in Western Australia.
Read MoreExecutive Exodus Prompts Elders Probe
What is it about the struggling Elders (ELD) group and controversy?
Read MoreSigns Of Recovery As RBA Sits Pat
No rate cut from the Reserve Bank and the closing down of the US government should have made for a tough day everywhere yesterday, but most markets ended up higher, instead of lower.
Read MoreMarkets Bank On A Short-Lived Shutdown
The unlikely combination of the lack of a rate cut and the US government shut down sent the Aussie dollar flying over 94 US cents overnight.
Read MoreMarkets Slide Ahead Of US Funding Deadline
Markets in Asia, Australia, Europe and the US took a hammering yesterday and overnight as the US budget crisis headed towards forcing the US government to shut down much of its operations from later today, our time.
Read MoreFuntastic Marks Time In Tough Conditions
Toy and confectionery business Funtastic (FUN) has seemingly gone against the trend in retailing by lifting its profit by 34% for the year to July 31.
Read MoreOZ Minerals Not On Glencore’s Shopping List
Another dodgy Australian takeover situation story from London on a Sunday that was not backed up by the facts.
Read MoreUS Situation Grows More Confused
Now for the silliness in Washington where it’s generally agreed that some lunatics have escaped and are in control of the asylum bus and driving straight for a cliff.
Read MoreLocal Market Plays Catch Up
The US budget and debt controversies are slowly moving to the forefront of issues worrying investors offshore, but in Australia it is yet to register, except in the value of the Aussie dollar.
Read MoreThe Week Ahead
It is a bit hard to pick what’s not going to be an important issue for markets this week – from Australia, to China, Europe and the US, there are a series of issues, data releases or scheduled news events that will give sentiment and confidence a big shaking.
Read MoreAnsell Buys South Korean Supplier
Predictably there were a few jokes in reports and the market about a deal with a "midas touch" after protective clothing and condom maker Ansell (ANN) revealed yesterday it was buying a key supplier, South Korean glove maker and textile group Midas.
Read MoreWCB Gives A Formal First Round No To Bega
As to be expected, the earlier ‘don’t sell’ from the board of Warrnambool Cheese and Butter Factory (WCB) has turned into rejection of Bega Cheese’s (BGA) $319 million offer on the ground that it is inadequate.
Read MoreGindalbie Strains To Keep Funding Its Karara Share
Investors seem more resigned than anxious about the increasing chance that Gindalbie Metals (GBG) will lose some of its 50% of the troubled and delayed Karara iron ore project in WA.
Read MoreMarket Upbeat On DJS Despite Weaker Numbers
Given the 1% to 2% slide in topline and same store sales in its 2012-13 financial year, a weaker result from David Jones (DJS) was always expected by the market.
Read MoreSMSF Gearing, Not Bank Lending On The RBA Radar
Yes, the Reserve Bank is a tad concerned about the way house prices are rising and yes, a senior bank executive (in fact the Assistant Governor in charge of the Financial system) indicated last week that the bank did not see property bubbles forming.
Read MoreClear Forecast Despite Dry Weather Squeezing Nufarm
Melbourne-based agricultural chemicals and seeds supplier Nufarm (NUF) says its 2012-13 performance was hit by challenging seasonal conditions and a difficult market in Australia.
Read MoreFonterra Warns On Record Prices
Fonterra Co-Operative, NZ’s biggest company and the world’s biggest dairy exporter, has warned shareholders not to expect a repeat of the strong end of the latest trading year.
Read MoreKathmandu’s Retailing Masterclass
Trans Tasman clothing retailer Kathmandu (KMD) has provided yet another lesson to the moaners and groaners in the Australian retailing sector (such as Myer’s Bernie Brookes and Premier’s Solomon Lew) about superior sales and profit performance by producing one of the best results for the 2012-13 financial year.
Read MoreAlacer Quits Australian Gold Mines
Canadian-based gold miner Alacer Gold (AQG) has sold its two Australian mines and will focus on its mine in Turkey, as it said it would do back in June.
Read MoreNewcrest Chairman Upbeat On Gold, Company’s Prospects
Don Mercer, the chairman of struggling gold miner Newcrest (NCM), has strongly defended the company’s performance in his chairman’s comments in the 2012-13 annual report released yesterday, and made it clear that senior executives face the prospect of receiving lower bonuses and other incentive payments this year.
Read MoreChina Surprises On The Upside, Again
Well, well, well, China has surprised on the upside with the better than forecast early estimate of activity in the country’s huge manufacturing sector.
Read MoreTreasury Wine Dives, CEO Ousted
Last Friday it was all love and kisses at Treasury Wine Estates (TWE), with the company releasing its notice of meeting for the AGM to be held on October 23 in Adelaide, which included a recommendation for the then CEO David Dearie to be issued performance rights as part of an incentive plan.
Read MoreNews Corp Profit An Accounting Outcome
Rupert Murdoch’s News Corp (NWS) finally produced its 2012-13 results early Saturday morning our time with a quiet filing with the US Securities and Exchange Commission, which will be released to the ASX first thing this morning.
Read MoreThe Week Ahead
After last week’s events, we all are wanting a quiet few days, but unfortunately, that won’t be on the cards because today is the day when the early reports on the health of manufacturing in some of the world’s major economies, starting with China begin.
Read MoreFed’s Tapering Hangover Hits Markets
Now it’s time for what you might call the ‘hangover effect’ after the brief party in the wake of the Fed’s surprise move last week not to start cutting its stimulatory spending.
Read MoreSoul Patts Group Sees Lower Results
Sydney-based investment group Soul Pattinson (SOL) has raised its final dividend, even though it suffered a fall in earnings in the year to July.
Read MoreOroton Survives Losing Ralph Lauren
Yet another couple of conflicting reports from the retailing sector yesterday.
Read MoreBillabong’s About Face To Do New Funding Deal
In contrast to Oroton, the shares of struggling basket case, Billabong (BBG) jumped by around 8% at one stage yesterday on news that the company has accepted a refinancing proposal from hedge funds and found a new chief executive.
Read MoreFed Keeps The Punch Bowl Spiked
The US Federal Reserve sprang a major surprise on markets by not starting to trim its $US85 billion a month of stimulatory spending.
Read MoreAPRA, RBA Downplay House Bubble
Representatives of the country’s two main bank regulators, APRA and the Reserve Bank went out of their way yesterday to downplay talk of a house price bubble in Australia, but confirmed there was official concern at the way house prices had risen sharply.
Read MoreWCB Fends Off ‘Opportunistic’ Takeover
The horse trading over the real value of the Bega Cheese (BGA) offer for Warrnambool Cheese and Butter (WCB) has started with the latter company attempting to cast doubt on the value of the Bega shares to be offered in the deal.
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