MARKETS

Across Asia, regional markets have started the week in a mixed fashion despite the positive leads from the US on Friday. Traders continue to be very cautious ahead of what's likely to be another volatile week as debt problems in the US and Europe continues to hang over the market. The Hang Seng is 0.2% firmer for the session while the Shanghai Composite is 0.1% lower. The Nikkei 225 is closed for a holiday.

MIDDAY REPORT (12.35pm AEST)The local share market has defied Wall Street's positive Friday finish and started the trading week slightly lower. At lunchtime in the East, the All Ordinaries Index (XAO) is down 8.6pts or 0.2pct to 4534.1.Energy players are under the most pressure, despite a rise in the crude oil price. Oil is hovering around US$97.57 a barrel, thanks to a firmer US dollar and generally favourable stress tests results on European banks.

Daily update on share prices and consensus price targets.By Rudi Filapek-VandyckAccountancy software developer Reckon ((RKN)) has regained the attention of investors amidst doom and gloom for retail-oriented industrials and sluggish progress for China-leveraged base materials and energy stocks.

China's effort to have a grip on steel-making companies to fulfill its needs continue as the Sichuan Hanlong Group made a bid for Australia-listed firm Sundance Resources for A$1.4 billion ($1.5 billion).

(This story was originally published on Wednesday, 13th July, 2011. It has now been re-published to make it available to non-paying members at FNArena and to readers elsewhere).

(In yesterday's story we accidentally reported BHP Billiton had acquired Fayetteville assets from ConocoPhillips.

MORNING REPORT (7am AEST)US industrial production rose by 0.2pct in June, in line with forecasts. Consumer prices (CPI) fell by 0.2pct in June, weaker than the -0.1pct consensus forecast. But excluding food and energy (core prices) the CPI rose by 0.3pct, slightly ahead of market forecasts. And consumer sentiment slumped from 71.5 to a 2-year low of 63.8 in July.

FNArena has added another video to its Investors Education section on the website. In this educational AV broadcast, Jerry Simmons explains how technical indicators have turned decidedly bearish for various assets and FX crosses, including Chinese equities, financial stocks, EUR/AUD and EUR/JPY.

MIDDAY REPORT (12pm AEST)Australian stocks have started the last trading day of the week in the red, on continued investor concern about US and European economic woes. Ratings agency Standard & Poor´s has this morning warned there is a one-in-two chance it could cut the United States´ prized triple-A rating if a deal on raising the government´s debt ceiling is not agreed soon. The deadline for the agreement is August 2nd. At lunchtime in the East, the All Ordinaries Index (XAO) is down 15.2...

By Rudi Filapek-VandyckAs announced yesterday afternoon, FNArena launched its own financial web TV yesterday, titled Market Insight.

By Greg PeelThe Dow closed down 54 points or 0.4% while the S&P lost 0.7% to 1308 and the Nasdaq plunged 1.

By Rudi Filapek-VandyckGreg Peel already pre-announced it in today's Overnight Report: FNArena has been busy working on establising its own series of AV broadcasts and the Investor Education section on the website will soon see an additional set of broadcasts and downloads comprising of past ev...

U.S. stocks fell for the fourth of five sessions Thursday, after Federal Reserve Chairman Ben Bernanke deflated investors' stimulus hopes and a thawing of Washington's frozen debt negotiations failed to draw more bullish traders into the market.

Business frugality is funding Australian mortgage lending, a new report has indicated.

Rio Tinto is on the way to a higher first half profit after it shook off the bad weather-induced first quarter production weakness to report a ringer of a second quarter.

There were a lot of interesting trends in the June monthly and half yearly economic figures, beyond the headline grabbing data on growth, trade and inflation.

A last minute rally wasn't enough to lift Australian stocks back into the green at the close of trade on Thursday.

US business inventories rose by a larger than expected 1pct to $1.51 trillion - the highest level since October 2008. Business sales fell 0.1pct in May.

MORNING REPORT (7am AEST)In Australia, data on inflation expectations is released together with detailed labour market data. In the US, data on producer prices, retail sales and weekly jobless claims are released.The US Federal Reserve chairman Ben Bernanke told the House of Representatives Financial Services Committee that more stimulus could be provided to the economy if needed: ´´The possibility remains that the recent economic weakness may prove more persistent than expected and .....

On Wall Street overnight, US stocks snapped their three day losing streak to finish moderately higher, albeit well off session highs as little progress was made in talks over the raising of the debt ceiling and a Fed official said he is against providing further stimulus to the economy, opposing earlier comments from Ben Bernanke.

U.S. stocks snapped a three day slide Wednesday as investors saw hope for further economic stimulus from the Federal Reserve.

US export prices rose by 0.1pct in June with import prices down 0.5pct. Both results were near market forecasts. And the Federal budget deficit narrowed from US$57.64 billion to US$43.00 billion in June.

- Beach Energy's initial shale gas testing is positive- Costs are potentially overwhelming- Most analysts doubt commercial viabilityBy Greg PeelShale is hot.

- Oil market tighter than previously projected- Helps explain IEA release of strategic reserves- Market to stay tight, global stocks expected to fall through 2012By Chris ShawWhile the recent strategic stock release by the International Energy Agency (IEA) was questioned in some quarters, Barclays C...

By Greg PeelThe Dow closed up 44 points or 0.4% while the S&P gained 0.3% to 1317 and the Nasdaq added 0.

Digital payment company PayPal on Wednesday debuted its person-to-person payment technology that utilizes Near Field Communications (NFC) embedded in Android smartphones.

- Alarmist warnings of a credit bust in China are unfounded- China's financial system is under no grave threat- China is not like the WestBy Greg PeelThere are 65 million apartments in China standing empty.

MARKET CLOSE-- (4.30pm AEST)The Australian sharemarket was lower in the first half of the day; however our fortunes changed for the better following solid economic numbers out of China today. The ASX 200 index (XJO) rose 0.40 pct or 19.4 pts to 4514.8 while the broader All Ordinaries index (XAO) gained 0.40 pct or 19.7 pts to 4583.2.

Across Asia, regional markets are shrugging off the weak close on US market to be higher across the board, seemingly boosted by a stronger-than-expected set of Chinese economic figures. The GDP and industrial production prints showed the economy rose faster-than-anticipated in the second quarter. In trade, the Shanghai Composite is the top performer, up 1.2% while the Kospi, Hang Seng and Nikkei 225 are all up between 0.4% and 0.9%.