MARKETS

China's September power output continued on double-digits for an eighth consecutive month even as the world's second-largest economy reported a slowed down economic activity.

Australia's wheat inventories may surge to between 8 million and 10 million metric tonnes by Sept. 30 from as much as 7.3 million tonnes a year ago as coal-mining companies' fight for rail capacity led to transport bottlenecks in the eastern states.

Copper fell hard on Tuesday after China reported its economy grew at its slowest pace in two years and as German Chancellor Angela Merkel extinguished hopes that a plan will be announced next week geared to contain the eurozone's debt crisis and prevent a possible Greek default.

A day after G20 leaders wrapped up negotiations in Paris and came out with a five-point plan that could resolve their economic problems; Germany’s top officials announced that the Oct. 23 summit in Brussels may not produce positive results that most EU nations are expecting.

- Fortescue quarterly production report well received- Management confident in maintaining annual production rate of 55Mtpa- Brokers continue to see value at current levels- Buy ratings retainedBy Chris ShawThe September quarter production report from Fortescue Metals ((FMG)) has been well received ...

By Greg Peel"Conditions in global financial markets had continued to be very unsettled, with uncertainty increasing about both the prospects for resolution of the sovereign debt and banking problems in Europe and the outlook for global economic growth.

Analysts and mines experts had predicted prices of iron ore, Australia's most lucrative export commodity, could fall as low as $140 per tonne in the coming months.

- ANZ suggests commodities are oversold- Barclays revises its sector order of preference- Issues in oil and steel markets- Price stability needed for palladium's fundamentals to dominateBy Chris ShawHaving reviewed September quarter performance and market conditions ANZ Banking Group's Oct...

By Greg PeelThis weekly report noted last week the US Energy Commission had for sale an inventory of UF6 which it is offering below current spot pricing.

By Greg PeelThe Dow fell 246 points or 2.1% while the S&P dropped 1.9% to 1200 and the Nasdaq lost 2.0%.

The local share market has started the trading week on a strong note, with investor sentiment boosted by a raft of positive offshore news. Over the weekend, European leaders again pledged to take all necessary action to stave of the debt crisis, and work together ahead of the G20 summit in Cannes next month. Meanwhile US stocks posted their best weekly gains since March 2009 last week, boosted by strong retail sales and impressive earnings results from a number of companies, particularly Google....

Queensland Mining Corporation announced it recently discovered a new high grade copper discovery on Horseshoe ML and Duck Creek EPM. It was the first recorded discovery of high grade sulphides in the area, at its Duck Creek Project, south of Cloncurry.

The weekend conclusion of talks among Group of 20 finance chiefs, where it approved parts of a plan to contain the eurozone's debt crisis and prevent a possible Greek default, has led commodities futures, particularly copper and oil, to rise on Monday.

Speculations are brewing in the iron ore mining and steel mills industries that China has been offered to purchase the iron ore raw material for fourth-quarter contracts at a much cheaper rate.

The Australian sharemarket has kicked off the new trading week on a positive note, with the All Ordinaries index (XAO) up 1.4 pct or 59.1 pts to 4328.1. All regions of the market are improving with gains of at least 1 pct flowing through to most sectors.

By Kathleen Brooks, Research Director UK EMEA, FOREX.comThe G20 finance ministers meeting ended yesterday and (as usual) failed to tell us anything new.

(This story was originally published on October 12th. It has now been repeated to make it available to non-paying members at FNArena and to readers elsewhere).

Just seven days from today is all we have until we know whether the eurozone debt crisis will be put on a track towards settlement once and for all.

Confidence is back, risk is 'on' again and markets almost blushed with vigour last week, none more than the Aussie dollar which added a large 5.9% or nearly 6 USc in jumping well past parity with the greenback.

BHP Biliton is mulling to acquire Brazilian iron ore producer Ferrous Resources as the Anglo-Australian miner seizes opportunities to scout for low-priced commodities projects brought by the pressing current low valuations of iron ore markets.

U.S. stocks jumped Friday, sending major stock indexes to their highest close since early August and pushing both the Dow and the Nasdaq Composite back into positive territory for the year. The Dow industrials closed with a 166.36 point gain, or 1.5%, at 11644.49. The Dow is now ahead by 0.58% for 2011.

US retail sales rose by 1.1pct in September - marking the fastest pace of growth in seven months. Sales for the prior two months was also revised higher. The upbeat sales figures resulted in a revision of third quarter growth estimates. US September quarter GDP is now expected to post between 2.3-2.7pct. US business inventories rose by 0.5pct in August.

A raft of soft data weighed on investor sentiment today, sending local stocks down by almost one percent. Weaker than expected Chinese trade data and disappointing earnings result from US heavyweight JP Morgan Chase sent global markets into the red overnight, while this morning ratings agency S&P downgraded Spain from AA to AA-. Another ratings agency, Fitch, downgraded UBS and seven more financial institutions.

Iron ore prices are set to get more competitive in the following months as BHP Billiton, along with other iron ore miners and steel producers, mull the creation of a new iron ore global pricing system by year-end or early 2012.

The Australian sharemarket is pulling back for the second time this week, with the All Ordinaries index (XAO) down 0.9 pct or 39.2 pts to 4266.8. Almost all sectors are lower with the defensive telecommunication sector one of the lone regions of the market to be gaining some ground. Telstra (TSL) is up 0.16 pct or 0.5 cent to $3.08.

London Session: Risk Moderates:Profit Taking Or Something More Sinister?By Kathleen Brooks, Research Director, FOREX.

Good news for the Australian iron ore and coal industries, and of course the country's balance of payments for the next 18 months or so.

Questions are being asked if China's economic slowdown is starting to crunch sections of the economy, just as the trade surplus weakens as export growth fades.

The financial sector led U.S. stocks lower Thursday following less than stellar results from J.P. Morgan Chase & Co., although strength in technology stocks kept the broader market's losses in check. The Dow Jones Industrial Average was down 59 points, or 0.5%, at 11459 in Thursday afternoon trading, after earlier dropping as much as 141 points.