Base metal miner Copper Strike Ltd (ASX: CSE) advised its shareholders on Wednesday to hold off any action on the $14.3 million takeover proposal pushed forward by Kagara Ltd (ASX: KZL), calling the offer as highly opportunistic.
Iron ore mining firm Fortescue Metals Group Ltd (ASX: FMG) confirmed on Wednesday that it has been conducting negotiations with several financial groups following reports published by the Australian Financial Review that the company is mulling a capital raising of up to $US6 billion or $A6.11 billion.
Yielding a lower ore grade in the September quarter, uranium explorer Energy Resources of Australia Ltd (ASX: ERA) announced on Wednesday that it would have to pare down its production guidance for the year 2010.
Total personal finance commitments slid 0.3 per cent, seasonally adjusted, from $7.410 billion in July to $7.392 billion in August, the Australian Bureau of Statistics (ABS) said on Wednesday.
Adelaide will soon roll out freshly assembled Holden Cruze by 2011 as GM Holden Ltd said on Wednesday that its new facility in the area will commence production of a local version of the popular small car model.
JB Hi-Fi Ltd (ASX:JBH), an Australian electronics and home entertainment retailer, said first-quarter sales rose 12.2 percent from a year earlier but were about 5 percent behind its target.
The Australian central bank’s move to opt for another pause on its policy rates in October apparently sparked a rise in consumer confidence that fresh data indicated has well exceeded the benchmark for spending optimism.
Shares of ASX-listed mining firm Conquest Mining (ASX: CQT) has steadily climbed with the lifting of its trading halt that coincided with its announcement of securing a $45 million institutional placement.
U.S. stocks solidified their Federal Reserve inspired gains Tuesday as Wall Street embraced the latest indication that further monetary easing is ahead.
The minutes of the September FOMC meeting highlighted that Federal Reserve policymakers have the left the door open to a further round of stimulus in the near term. Interestingly the Fed viewed recent incoming data on the economy as better-than-expected.
The Australian Dollar has opened at USD 0.9855 this morning after announcements overnight by the US Federal Reserve that it was ready to provide more stimulus to the US economy "before long".
The Australian Dollar opens higher against the greenback today at 0.9860, recovering from a low of 0.9785 during yesterday's domestic session after a fall in business confidence.
The Australian dollar is still outperforming its peers as investors bet on higher yielding instruments and the U.S. equities are believed to boost Asian stocks.
Investments in gas-fired power plants may double and reach close to $15 billion in the near term if Australia starts to implement a stiff price on carbon emissions, Fitch Ratings said.
Australia's S&P/ASX 200 is expected to ease from its early rally this week, as investors are wary of China's economic performance. Analysts said though there will be a positive push from the turn of events in the US with the Federal Reserve's decision to temper its fiscal policy, this will not easily avert the dampened mood that may set in today.
Local stocks eased from five month highs today, due to a flat lead from Wall Street and selling in the Asian region.
The Australian share market closed lower after little direction from Wall Street where trading was thin due to a public holiday.
Mineral explorer Conquest Mining Ltd (ASX: CQT) entered trading halt on Tuesday and would remain in such state until Thursday pending the announcement of the $100 million capital raising that would finance the development of the company’s Mt Carlton gold, silver and copper project in Queensland.
Australian house prices are set to rise as much as 20 per cent over the next three years, thanks to strong economic growth and an ongoing shortage of supply, according to a housing report commissioned by QBE.
The Australian share market fell out of bed today, in line with the Asian region, all sold off hard despite a lack of obvious triggers.
Across Asia, regional markets were mostly lower following flat US leads where trading volumes were very light due to the Columbus Day holiday.
Australia's economic growth may be eroded by local banks' preference toward household lending over business loans, a National Australia Bank Ltd. executive warned.
Following the announcement of its new debt facility on Monday, Fortescue Metals Group Ltd (ASX: FMG) drew mixed reviews from Deutsche Bank and Macquarie, with the latter offering a positive outlook for the iron ore miner it now calls as the third force in the iron ore industry.
The Adelaide Airport had a brief security concern this morning when a man suddenly broke in with his car crashing into the tarmac. The man suspected of drunk-driving or mentally ill has been subdued by the airport police moments after the said incident.
The Australian share market is being sold off today, following a flat lead from Wall Street and general weakness in commodity prices.
The offer document of QR National float, the biggest public share offering since Telstra’s privatisation in 1997, has been made public on Tuesday where the Queensland government is anticipating a fund raise that could go beyond the $5 billion mark.
As the country struggles to retain its global competitiveness but retaining its current energy production levels to sustain local industries, the Australian Parliament has chosen to put a price on coal emissions.
The Beaconsfield gold mine of BCD Resources Ltd (ASX: BCD) could be in danger of entering receivership should it fail to repay a $5 million loan it acquired from Bendigo Mining Ltd (ASX: BDG).
With holidays in the US, Canada and Japan, overnight markets have had a very quiet trading session, with no major data was released.
China has lifted reserve requirements for six large commercial banks in order to slow the pace of the economy.