BUSINESS

Gold To Follow S&P 500 Lower Amid Broad-Based Risk Aversion- Gold Testing Key Trend Line Support, Poised to Break Lower- Correlation Studies Show AUD/USD a Proxy for Gold PricesBy Ilya Spivak, Currency StrategistFundamental Forecast for Gold: BearishGold prices rebounded last week, adding 1.

(This story was originally published on Wednesday, 18 June 2011. It has now been re-published to make it available to non-paying members at FNArena and to readers elsewhere).

Ratings agency Fitch cut Greece´s credit rating by three notches to B+. Fitch also issued a negative outlook and commented that ´´the ratings downgrade reflects the scale of the challenge facing Greece in implementing a radical fi

The Australian share market closed moderately weaker, dragged down by materials stocks as investors digested lower base metals prices and the West Australian government's iron ore royalty hike.

Ratings agency Fitch cut Greece´s credit rating by three notches to B+. Fitch also issued a negative outlook and commented that ´´the ratings downgrade reflects the scale of the challenge facing Greece in implementing a radical fiscal and structural reform programme...´´.

Major stock indexes staged their second straight gain Thursday as a doubling in LinkedIn's share price spurred hopes that initial public offerings can lure more investors into risk assets.

Woolworths Ltd is planning to roll out contactless payment facilities across all brands, to make the shopping experience quicker and more convenient and help reduce time spent waiting in checkout queues.

Environment group Greenpeace has warned consumers of the possible dangers pose by children's toys made in China because of the high percentage of a harmful chemical found in them.

The Environment Protection Agency or EPA has approved a new coal-fired power plant, which will use gas from brown coal and natural gas to produce electricity, in eastern Victoria.

A Qantas flight from Thailand to the UK has been forced to return to the Bangkok airport after one of its engines broke down after take-off.

Staff were fired for serious breaches of health and safety guidelines, and not for planking, Woolworth says.

Wesfarmers (ASX: WES) has denied a plea from a group of its shareholders to put an end to Coles’ cut-price milk and dairy campaign.

The vast majority of Australian exporters are considering a price cut, as the Australian dollar continues to trade at levels that are causing the sector to become uncompetitive.

Honda Motor Co. has announced it would recall more than 1,000 new Honda Civics in the U.S. because of defects found in the fuel line. The defect could cause fuel leak, the company said in a statement.

Daily update on share prices and consensus price targets.By Rudi Filapek-VandyckA profit warning followed by a gigantic sell-off has pushed shares in ATM services provider Customers ((CUS)) into the Bottom 50 of FNArena's Icarus Signal.

MF Global Holdings Ltd. (NYSE: MF), a broker-dealer providing trading and hedging solutions, today reported financial results for its fourth quarter and fiscal year ended March 31, 2011.

BlackRock, Inc. announces that it has agreed to repurchase Bank of America Corporation's remaining ownership interest in BlackRock totaling 13,562,878 of its Series B Convertible Preferred Shares for approximately $2.545 billion, or $187.65 per share.

By Greg PeelThe Dow closed up 45 points or 0.4% while the S&P gained 0.2% to 1343 and the Nasdaq added 0.

A strong rally in Australian equities was enough to support the currency from the outset on Thursday pushing it towards 1.0680 where it spent most of the Asian session.

The Australian share market roared back to life Thursday after risk aversion in global equity markets moderated overnight and the local bourse broke above its 200 day moving average.

US existing home sales fell by 0.8pct in April, against expectations of a 2pct rise. The median home price was $163,700 in April, down 5pct on a year ago. US jobless claims fell by a larger than expected 29,000 to 409,000 last week.

Australia’s largest independently owned mortgage broker, Mortgage Choice, has bucked broader industry trends in March as it reached its highest value of home loan approvals since October 2009.

Following on from two very successful "Rudi unplugged" presentations in Melbourne, FNArena editor Rudi Filapek-Vandyck will be presenting in Hobart and in Sydney in June.

By Rudi Filapek-Vandyck, Editor FNArenaOne of FNArena's long-time subscribers, Hubert W, posted a message this week, after I had announced we would soon launch a new service on the website based on FNArena's consensus price targets.

Oil prices for July delivery of Brent oil advanced 13 cents to $112.43 on Thursday after the anticipated increase in U.S. Stockpile did not materialized.

Australians support the insurance industry’s calls for a ban on the building of residences in flood-prone areas, an online survey has found.

Despite cost of living and interest rate concerns, almost half of NSW home buyers think it’s a good time to invest in property.

- Recent sell-off in commodities was a reality check, says Natixis- Among base metals, copper and tin are believed to have strongest fundamentals- Inflation a key to any further leg-up in pricesBy Chris ShawCommodity market consultant Natixis Commodity Markets has released its second quarter metals ...

By Greg PeelWelcome to SMSFundamentals, a new feature series specifically dedicated to providing SMSFs with valuable news, investment ideas and services, in line with SMSF requirements and obligations.