Updates: FBU Shares Sold Off After Profit Warning
Shares in Fletcher Building fell more than 12% yesterday after it sprang a surprise profit downgrade on the market.
Read MoreShares in Fletcher Building fell more than 12% yesterday after it sprang a surprise profit downgrade on the market.
Read MoreIf the old cliché, ‘what goes up, must come down’ is true, then the obverse of that must be ‘what goes down must go up’ and that applies to the latest NAB report on business confidence and trading conditions.
Read MoreIt was seven months to the day yesterday since the March 11 earthquake and tsunami in northeastern Japan, which then triggered the Fukushima nuclear crisis and crunched the economy.
Read MoreThe Slovakian parliament is reported to have rejected the eurozone’s revamped European Financial Stability Facility (EFSF) rescue fund, a move that could rattle markets today.
Read MoreVictorian-based Rex Minerals has upgraded its plans for its low grade but huge Hillside copper prospect on Yorke Peninsula in South Australia, potentially doubling the original production forecasts.
Read MoreAnd still in South Australian copper mining, BHP Billiton has moved a step closer to making a yes or no decision on the huge Olympic Dam project.
Read MoreDespite the solid rebound in market confidence last week (well, up to Friday night in the US), the European debt problems haven’t gone away.
Read MoreHopefully it will be a quieter week ahead of us after the dramas and moves of last week, especially from central banks in Australia, the UK and Europe.
Read MoreDespite a better than expected jobs report for September, Wall Street closed in the red on Friday after the credit rating warnings for Italy and Spain scared investors and downgrades for European and UK banks sent American bank shares sharply lower.
Read MoreMore evidence yesterday that Australian consumers are spending solidly.
Read MoreTwo more tests approach for the slowing US economy.
Read MoreFirst it was Standard & Poor’s, then a fleet of private economists; finally it was the IMF delivering the bad news that everyone knows: developed Europe is in trouble and the various economies are sliding towards a new recession.
Read MoreShares of coal miner New Hope soared yesterday after the company said it had received several takeover proposals and revealed it will launch a formal process to assess the offers.
Read MoreMore evidence the Australian economy is better placed than all the business and consumer sentiment surveys have been suggesting.
Read MoreAnd shares in mining services and rail group Bradken Ltd finished up 3c yesterday at $6.24 after the company’s AGM in Sydney was told earnings in the 2012 were on track.
Read MoreStand by for the mother of all speculative binges about whether the Reserve Bank will cut interest rates at next month’s board meeting.
Read MoreAustralian got another glimpse of the full power of the resources boom yesterday.
Read MoreA sharp rally on Wall Street has halted the three day sell off around the world.
Read MoreUS, European and Asian stockmarkets have fallen sharply on rising concerns of a Greek sovereign default, and additional worries over China’s financial health.
Read MoreIt’s another tough week for markets and investors here and around the globe.
Read MoreThe global stockmarket continues to have a bad case of multiple personality, worrying about Greece and the eurozone imploding one day, and then reversing those fears the next.
Read MoreGermany voted to support the European Stability Fund overnight, a welcome decision.
Read MoreBuried in last Friday’s Stability Review from the Reserve Bank was yet another warning to banks and their investors not to be too optimistic about the outlook.
Read MoreWorld crude steel production was the second lowest monthly total so far this year, despite continuing solid production in China and most of Asia.
Read MoreWhile the headline in the latest National Australian Bank Residential Property Index was gloomy with a 14 point drop reported for the September quarter (and for the second quarterly fall in a row), the detail of the report revealed a case for a bit more optimism.
Read MoreAgricultural chemicals group, Nufarm says it’s aiming to boost earnings in 2012 after another difficult year in 2011.
Read MoreEmbattled Tasmanian timber group, Gunns has cleared a big hurdle in its plans to turn itself into a pulp company with the $2.3 billion project cleared to proceed by the state’s Environmental Protection Agency.
Read MoreResources giant Rio Tinto has used the recent market weakness to lift its stake in Canadian miner Ivanhoe Mines to the planned 49% level it agreed to with Ivanhoe several years ago.
Read MoreStruggling food group Goodman Fielder is to ask shareholders to help it out of a tough situation: it needs recapitalising and wants $259 million.
Read MoreLaboratory and testing group, Campbell Brothers Ltd has again boosted its first half profit forecasts.
Read MoreBe careful and don’t take the sharp rebound in markets for granted or think it’s the sudden emergence of an uptrend.
Read MoreShell and PetroChina have tightened their control on part of the multi-billion dollar Queensland coal seam gas sector with a higher offer for Bow Energy.
Read MoreAccording to an advance copy of the Woolworths’s annual report, the about to retire CEO Michael Luscombe took a $2.6 million pay cut in the 2011 financial year, but still managed to sound confident about the retailer’s outlook, despite its toughest year for more than a decade.
Read MoreIt’s now clear that gold and silver have emerged as the major casualties of the current sell-off, only 10 days after gold dealers and several leading forecasters predicted the price would top $US2,000 an ounce by the end of the year.
Read MoreLed by gold and copper, commodity prices fell to nine month lows last week, thanks to the sell-off on Thursday and Friday across the globe.
Read MoreAnother big week for global markets and economies with Europe’s woes the overwhelming focus thanks to a vote in the German parliament and a decision on the continuing bailout of Greece.
Read MoreWe are stuck for choice this week for the next triggers of another round of market nervousness and selling.
Read MoreMore hints this week the recovery in the Japanese economy from the March 11 disasters isn’t going as well as thought and also surprise signs that the rebound across the Tasman had suddenly slowed as well.
Read MoreSpeeches from the two senior Reserve Bank’s officials have given more clues as to why Australian consumers are changing their spending patterns in quite significant ways.
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