By Greg PeelOne unfortunate soul at the end of his tether self-immolates in protest in Tunis and the next thing we know a modern-day collapse of the Berlin Wall is underway. A butterfly flapped its wings. Chaos ensued.Let's rattle off the list: Morocco, Tunisia, Algeria, Libya, Egypt, Jordan, Yemen, Oman, Bahrain, Iraq and Iran, with Saudi Arabia adopting preemptive concessions. That's pretty much...
By Greg PeelThe Dow rose 191 or 1.6% while the S&P gained 1.7% to 1330 and the Nasdaq jumped 1.8%.I suggested yesterday that trading on Wall Street had become a day to day proposition, with newsflow from abroad competing with economic data at home. Last night's session fell exactly into that mould as pent up demand for stocks was unleashed on, unusually, a day before a jobs report.It has been deve...
The Australian dollar has opened slightly weaker this morning after the release of stronger than expected US data overnight.
Australian Building Approvals fell by 15.9% for the month of January and our Trade Balance narrowed it was revealed yesterday.
The Australian sharemarket proved resilient to a steady stream of negative news from the Middle East, closing flat on solid performances from resources and healthcare sectors.
US ICSC comparable chain store sales rose 4.2pct in February from a year earlier. Luxury retailers were the standout performer with sales up 10.1pct on a year ago. US initial jobless claims fell by 20,000 to 368,000 in the past week - a 2½-year low.
The bank plan presented to the Federal Government by consumer group Choice is largely a list of actions already undertaken or currently under review, Australian bankers said today.
So will tonight be the night that marks the rebirth of the depressed American jobs market?That's when the US jobs and unemployment figures for February will be released.Economists are once again saying that from 160,000 to over 200,000 jobs could be created.The jobless rate fell to 9% in January as the number of new jobs was less than expected, but that was put down to the impact of the snow ...
Building approvals in January saw their biggest monthly slump in over eight years as the extreme weather that inundated Queensland and Victoria aggravated the slowdown.
IKEA stores in Australia have joined a worldwide recall of a glass coffee and tea maker over safety concerns.
Integrated forestry company Gunns Ltd (ASX: GNS) says the Federal Government had extended, by one week, the process for final environmental approvals under the EPBC Act for the proposed Bell Bay pulp mill. The deadline for approval has been extended to 10 March 2011.
ASX Group Ltd is set to lose its two-decade monopoly later this year. The corporate regulator on Thursday announced its timetable for the introduction of market competition in Australia.
A rebound in retail sales growth helped ease the pace of decline in the services sector in February.
UK-based software application provider App-DNA has established a new regional office in Sydney, NSW, and a research and development centre in Perth, WA, to take advantage of the opportunities available in the Australian market.
FNArena has added another video to its Investors Education section on the website.ATW's Jerry Simmons gives a rare insight into his weekly wrap sessions for market traders. Underlying theme is the USD should be closely watched for financial markets' direction, while the underlying trend for US equities appears to be down (short and medium term). Total duration of this educational broadcast is 53 m...
By Jamie SaetteleNear term, beware of a sharp decline that drops below 9562 prior to the next leg higher. 9350 (61.8% retracement) should be strong support. “This breakout should be respected as per the measured level that intersects with the top of channel resistance in July. The Fibonacci objective is 11660. This bullish breakout scenario is valid as long as price is above 8736.”The ...
Australia's GDP rose by 0.7% in Q4, marginally below expectations. The next release for Q1is widely expected to be flat, given the impact of widespread flooding throughout the summer.
By Greg PeelThe Dow closed up 8 points or 0.1% while the S&P added 0.2% to 1308 and the Nasdaq gained 0.4%.It was a case of ups and downs on the newsflow for Wall Street last night as the buyers and sellers fought hard to stay either side of the flatline. Ahead of the opening bell the ADP private sector jobs report was released for February and showed an increase of 217,000 jobs compared to consen...
The Australian Dollar had a mixed day's trade onshore during Asia yesterday with a better than anticipated 0.4% increase in retail sales initially pushing the Aussie to very briefly test 1.0200.
The Australian sharemarket closed lower as tensions in the Middle East continued to rattle markets and spike up oil prices. The benchmark S&P/ASX200 index fell 23.2 points, or 0.48 per cent, to 4,803.2 points, while the broader All Ordinaries index was down 22.1 points, or 0.45 per cent at 4898.3.
According to the US Federal Reserve´s Beige book, economic activity continued to grow at a moderate pace in January and early February. The report also noted that retail sales increased in all 12 regional bank districts in early 2011, while some retailers had already raised prices or intend to do so in the next few months.
- Imdex a provider of drilling products and services - Reported strong interim earnings - Moelis rates stock a Buy - Upside potential from further increases in exploration spendingBy Chris ShawWestern Australian-based Imdex ((IMD)) provides drilling products and services to the minerals and oil and gas industries both in Australia and overseas, in particular supplying drilling fluids and down-hole...
Metcash shares eased yesterday to an eight month low yesterday after the company cut its 2011 full year profit forecast in half.Metcash said underlying earnings growth is now expected to be in the range of 3% to 5% - down from the previously forecast 6%-8%.The group joined its bigger rival Woolworths in cutting its earnings guidance for the full year.Woolies new guidance is for earnings growth of ...
The Lowy Family's hold on Westfield Group was eased a touch yesterday with David Lowy stepping down (along with long time director, David Gonski), and 80 year old co-founder frank Lowy stepping back to be a non-executive chairman.The news, conveyed to the market in this announcement had little impact on the securities of Westfield Group; they closed down 7c at $9.57 in a market that was weake...
Leighton Holdings Ltd (ASX: LEI) subsidiary John Holland, in an alliance with GHD and the Public Transport Authority (PTA), has been appointed to deliver the $360 million Perth City Link rail project in the Perth CBD. John Holland expects revenues of $310 million from its share in the alliance.
- Outsourcing and recruitment company Chandler Macleod delivered a standout interim profit result - Further growth expected - Stockbroker Moelis rates stock a BuyBy Chris ShawChandler Macleod is a human resources outsourcing and recruitment company that operates on both the recruiting and contracting sides of the blue-collar, office support, technical IT, health professional and executive markets....
The Australian Dollar has opened lower today after a weak night in US equities driven by renewed concern about the price of oil with a 4% rise in WTI and Brent oil.
The Australian Dollar had a mixed day's trade onshore during Asia yesterday with a better than anticipated 0.4% increase in retail sales initially pushing the Aussie to very briefly test 1.0200. Markets then proceeded to gravitate down from this high and further ground was lost in the afternoon off the back of the RBA's interest rate statement.
U.S. stocks fell hard Tuesday as oil approached $100 a barrel and Federal Reserve Chairman Ben Bernanke said rising energy prices could dent the recovery. The Dow Jones Industrial Average fell 147.04 points, or 1.2%, to 12,078.30, with 24 of its 30 components in the red.
US ISM manufacturing rose from 60.8 to 61.4 in January - marking the highest reading in seven years. The new orders sub component also hit a seven year high. The employment sub index rose to its highest reading since 1973.
