WOW Does OK
Woolworths shares finished 2% lower yesterday after the company revealed second quarter and first half sales that just missed some market estimates.
Read MoreWoolworths shares finished 2% lower yesterday after the company revealed second quarter and first half sales that just missed some market estimates.
Read MoreGUD Holdings called off its bid for rival appliance group Breville and revealed a solid 46.4% jump in first half earnings yesterday.
Read MoreAustralia’s largest listed investment company, Australian Foundation (AFI), says it is cautious, but confident about the outlook, despite experiencing the anticipated slump in earnings for the December half year as public companies cut dividends to preserve cash.
Read MoreThe US Federal reserve kept rates on hold at 0% to 0.25% for a ninth successive meeting and continued its view that they will remain at current levels "for an extended period of time".
Read MoreI know two updates don’t make a trend, but there could be something emerging in an important sector of the market, mining services.
Read MoreA solid pointer to today’s Consumer Price Index with a surprise easing in producer prices in the December quarter.
Read MoreThe Kerry Stokes-controlled Iron Ore Holdings continues to blitz the market with news of new iron ore finds or upgrades.
Read MoreWorld steel output is expected to rise 10% this year, or just over 120 million tonnes, a bull point for BHP and Rio (and Fortescue Metals).
Read MoreOf all the things that will or could happen in Australian business this year, the $US116 billion tie-up between BHP Billiton’s and Rio Tinto’s iron ore operations in Western Australia looms as the most important one that we know of, so far.
Read MoreGlobal markets had their roughest week last week since October-November last year, but it could get even tougher this week if Ben Bernanke’s nomination for a second term as US Federal Reserve chairman fails.
Read MoreShares in Woodside Petroleum fell more than 3% on Friday after the company revealed disappointing news in its 4th quarter 2009 and full year production and revenue reports.
Read MoreGold, copper and oil all had rough weeks as investors took profits after deciding sentiment was turning volatile and becoming uncertain.
Read MoreUS shares had their worst three-day slide in 10 months last week on fears the White House’s plan to curb bank risk-taking would cut profits.
Read MoreIn many respects the better than forecast 2009 annual profit from AXA Asia Pacific is not very important.
Read MoreStrong consumer confidence figures, rising imports and confirmation of a solid end to 2009 for the motor industry (retailers, at least) have added to the belief that we will get another rise from the first Reserve Bank board first meeting of the year on February 2.
Read MoreIt’s week three of 2010 and we are already into the CEO departure stakes, with two gone in three days this week alone.
Read MoreLed by continuing strong growth from China, and increasingly from other major economies, the World Bank sees global economic growth recovering to around 2.7% this year and 3.2% in 2011, after 2009 saw it contract by 2.2%.
Read MoreIf the World Bank’s forecasts of 9% GDP growth for China this year and next prove to be near the mark, then the country will move past Japan this year into second slot behind the US, and extend the lead in 2011.
Read MoreAs expected, BHP Billiton, had a very good second quarter and first half (to the end of December) in its various mines and commodities.
Read MoreChina yesterday threw markets into confusion on the eve of the release of December quarter and 2009 annual economic figures with reports that banking regulators had ordered a halt to lending.
Read MoreAnd helping boost consumer confidence would have been better results from their stockmarket investment and super, especially from Australia.
Read MoreThe chances of a fourth successive interest rate rise have increased after Australian consumers emerged from their annual Christmas-New Year break full of vim and vigour, with confidence hitting new highs, according to two major surveys.
Read MoreMineral sands miner Iluka Resources Ltd recorded a 37.5% fall in sales revenue in calendar 2009, but says revenue increased appreciably in the second half as world prices firmed off the back of the turnaround in China.
Read MoreShare registry group, Computershare, was another company to surprise on the upside in its earnings update yesterday, with news of a 20% rise which is now expected for the December half.
Read MoreThere seems to be a bullish trend emerging in the early flow of corporate earnings updates for the December half.
Read MoreShares of corporate litigation funder, IMF (Australia) Ltd were driven down by nearly 15% yesterday in the wake of the decision by the federal government to reverse the so-called Sons of Gwalia High Court decision and remove the right of shareholders to greater priority in corporate collapses.
Read MoreShares in Data#3 Limited (DTL), jumped by more than 6% yesterday after the company confirmed that the interim profit for the 2009-10 financial year would be consistent with previous guidance.
Read MoreShareholders rights trampled (again) or a justified restoration of the status quo?
Read MoreA big week for China and Australia.
Read MoreSo much for all that ‘optimism" and confidence in the end of year/start of year stories in the various newspapers and on the web about the Australian stockmarket.
Read MoreMelbourne-based listed investment company, Djerriwarrh Investments is maintaining interim dividend despite a sharp fall in earnings for the December half, and plans to pay an unchanged final for the six months to June.
Read MoreLihir Gold Ltd’s chief executive Arthur Hood is going out at the top, or so it seemed from the company’s announcement yesterday.
Read MoreThe Commonwealth Bank saw mixed upgrades from analysts over the weekend, but its sharp jump late Friday after its surprise profit upgrade ran out of steam completely yesterday and the shares ended down 5 cents at $58.05.
Read MoreNational Australia Bank has gazumped the AMP and looks like it has snatched AXA Asia Pacific’s Australian and New Zealand units for an extra $200 million on top of what the AMP put on the table this week in its final offer.
Read MoreThere’s an overriding message from the NAB AXA deal yesterday and then the bank’s 2009 AGM in Brisbane.
Read MoreAs we have just read, gas, specifically LNG, is the flavour of the day at the moment, and that situation looks like continuing in 2010.
Read MoreMore news from the growing gas sector with Woodside Petroleum confirming that it was well on track to raise the $2.5 billion it announced it was seeking earlier in the week.
Read MoreGold is the other hot commodity at the moment.
Read MoreSuddenly, within the space of two weeks, the key competition regulator, the ACCC, has redefined the limits of Australian merger and acquisition activity.
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