MARKETS

- Woolworths' Q3 update pleased in that it confirmed an uptrend in the making- Some stockbrokers suggest this could be the catalyst for the share price- Macquarie remains skeptical By Greg PeelConsumer staple leader Woolworths ((WOW)) reported sales growth of 5.

- PaperlinX removed from S&P/ASX200 index- Institutional investors less likely to look at the stock- Morningstar retains Avoid rating, expects tough conditions to continueBy Chris ShawFollowing the March quarterly re-balancing of the S&P/ASX200 index, PaperlinX ((PPX)) was removed from the index as ...

- Spot uranium prices fell slightly last week- Activity remains subdued, buyers cautious- Mid and long-term price indicators unchangedBy Chris ShawLast week was another exceptionally quiet week in the spot uranium market, reports industry consultant TradeTech.

The AUD has fallen below USD1.0500 overnight as sovereign debt issues in both Europe and the US dampen risk appetite.

By Greg PeelThe Dow closed down 140 points or 1.1% while the S&P fell 1.1% to 1305 and the Nasdaq lost 1.

The Australian Dollar opens this morning at a rate of 1.0504 against the Greenback. Following a large flight to safety yesterday evening riskier currencies such as the Aussie Dollar were sold across the board.

Ratings agency Standard & Poor´s downgraded the long term US credit outlook to negative. S&P cited a risk that policy makers may not reach agreement on a plan to reduce the US federal budget deficit. White House spokesman Jay Carney said that a failure by Congress to lift the US debt ceiling would immediately arrest the US economic recovery.

New York – Citigroup Inc. today reported first quarter 2011 net income of $3 billion, or $0.10 per diluted share. Net income declined $1.4 billion from the first quarter 2010, but more than doubled sequentially.

The Australian Institute of Petroleum reported a two-and-a-half-year high in the local price of unleaded petrol with motorists paying an average of $202 a month for full tank.

International credit rating agency Standard & Poor’s has raised its long-term corporate credit rating on Rio Tinto (ASX: RIO) to A- from BBB+. At the same time, it affirmed the A-2 short-term corporate credit rating with a now stable outlook.

Leighton Holdings may have answered a ticklish question from the ASX yesterday about why it didn't update the market about its profit drop and writedowns faster than it did, but its problems in the troubled Middle Eastern state of Dubai seem to be deeper than thought last week.

The recent spate of natural disasters here and in New Zealand will see home and car insurance premiums rise "materially" in 2011, according to ratings agency Standard & Poor's.

Google Inc has to deal with the increasing salaries of employees and staff that could further erode strong financials if it does not make the most of advertising revenues from video and display advertising, analysts said.

Renewable energy company CBD Energy Ltd's (ASX: CBD) first joint venture project with its new Chinese partners will finalise its very first 100 megawatt wind farm in Australia this week.

By Greg PeelThe heavens began opening over the Sunshine State in late 2010 and by early 2011 the state was awash.

(This story was originally published on 13th April, 2011. It has been repeated to make it available to non-paying subscribers at FNArena and to readers elsewhere).

The Australian dollar opens this morning buying 1.0560 US Cents after reaching a rate of 1.0572 late Friday evening.

US consumer sentiment rose from 67.5 to 69.6 in April, ahead of forecasts centred on 66.5.

Philippine share prices sustain rise for the third consecutive day, but peso slightly softer

FNArena has added another video to its Investors Education section on the website. In this broadcast ATW's Jerry Simmons analyses silver and the euro and comes to remarkably similar (potential) scenarios.

- PepinNini previously focused on uranium, but the company is now expanding into iron ore- Sinosteel JV provides funds for exploration- Intersuisse rates PepinNini a Speculative BuyBy Chris ShawSince listing in 2005 PepinNini Minerals ((PNN)) has been regarded by the market as a uranium explorer, an...

The Australian dollar has opened trading this morning around USD1.0540 after a choppy session, with a nice bounce from its overnight low of US $1.0460.

US producer prices rose by a less than expected 0.7pct in March. Energy prices rose by 2.6pct in March, accounting for almost 90pct of the increase in wholesale prices.

The Dow closed up 14 points or 0.1% while the S&P was flat at 1314 and the Nasdaq was also flat. From the opening bell, the Dow plunged 100 points last night on a combination of disturbing news.

Ford Motors Australia has announced that it would cut down 240 jobs at its Victoria plant as demand for larger oil-guzzling cars had been down.

- BOQ is in and not too bad- Mac Bank will probably meet guidance- For ANZ, NAB and Westpac it'll all be about margins and disaster debts- Valuations are not stretchedBy Greg PeelIt was always going to be a poor first half result for Bank of Queensland ((BOQ)) given the regional impact of the Queens...

- Tabcorp delivers strong March quarter revenue result- Star City a good performer- Brokers broadly see value leading into de-mergerBy Chris ShawTabcorp ((TAH)) delivered revenue for the third quarter of $1,061 million, the result a 5.

- Soaring food prices have created instability in countries across Northern Africa and the Middle East- The odds seem in favour of further rises for food prices- Current estimates anticipate the world's population will grow by 4.

By Greg PeelThe Dow closed up 7 points while the S&P was flat at 1314 and the Nasdaq rose 0.6%.The Dow opened up 72 points higher last night, suggesting the oil-related pullback experienced this week is now being discounted and focus can re-settle on earnings reports.