US retail sales rose by 1.0pct in February - in line with forecasts and the strongest gain in four months. Excluding autos, sales rose 0.7pct.
Commodity markets won't feel as much of the impact from the Japanese quake and tsunami as one might think.Sure gold and oil will bounce around, as they did on Friday, but there are other issues with a more direct impact on these major commodities.These include Libya and oil prices, fears about the strength of global demand (which is partly why copper prices are off 10% in the past month) and ...
A devastating tsunami is engulfing towns in Japan's northern Pacific coast following a major offshore quake today. Japanese television is broadcasting cars, ships and even buildings being swept away by a vast wall of water.
Charter Hall Group (ASX:CHC) has exercised its right of first refusal to acquire a portion of Macquarie Bank Ltd group’s (MBL) holding in Charter Hall Office REIT (ASX:CQO).
The Australian dollar has opened lower this morning as disappointing Chinese trade data weighed on markets overnight.
The Australian Dollar moved lower overnight on a renewed bout of risk aversion and opens today at parity with the greenback.
The High Cost of Free MoneyPerhaps the most famous economic law is the one that there is no such thing as a free lunch. By keeping US short rates at abnormally low levels beyond the financial crisis and as growth bounces back beyond the dreams of the wildest optimists, the Fed increasingly seems to be trying to ‘feed the US economy for nothing’. This is worrying for as we have reviewed...
Blue-chip stocks suffered their biggest intraday drop since October as reports of Saudi police firing on protesters added a new worry to a day of broader economic concerns.
The Bank of England left its key lending rate unchanged at 0.50pct on Thursday. The central bank also made no changes to it´s £200 billion program of asset purchases.
By Greg PeelThe Dow fell 228 points or 1.9% while the S&P lost 1.9% and the Nasdaq lost 1.8%. All three averages/indices fell down through their 50-day moving averages, triggering technical selling. The Dow fell below 12,000 and the S&P below 1300 to 1295, exacerbating the psychological element.The interesting thing about last night's move on Wall Street is that oil was actually weaker. Brent fell...
- BA-ML initiates on Pharmaxis with Buy rating- Pharmaxis close to regulatory approval for Bronchitol- Low risk entry into potential market of more than $500mBy Chris ShawSince July of last year both Credit Suisse and RBS Australia have rated Australian pharmaceutical company Pharmaxis ((PXS)) as a Buy. BA Merrill Lynch has now added to the positive views on the stock, initiating coverage today wi...
The Australian job market remains very strong, despite the misleading headline figure in the February report yesterday showing a 10,100 fall in overall employment.That was not an accurate reflection of the underlying detail in the report, with a large 47, 600 full time jobs created, offsetting the loss in the January quarter.The fall in the headline figure was due to a 57,700 drop in the number of...
Australia’s export earnings from energy and mineral commodities in 2010 soared to record $165 billion, 25 per cent higher than in 2009, according to ABARES’ Australian mineral statistics–December quarter 2010 report.
The Australian sharemarket is falling for the second straight day with the All Ordinaries index (XAO) 1.2 pct or 58.6 pts lower to 4804.6. Almost all sectors are lower except for the defensive healthcare space.
Gearing to expand its niche and establish a multi-brand strategy this year, Westpac Banking Corp has announced plans to revive the Bank of Melbourne in Victoria and spending some $90 million for this undertaking.
- Russell Investments expects volatile markets in 2011- Forecasts modest gains for equities- Less cautious on Australia relative to rest of worldBy Chris ShawEquity market forecasts for 2011 have included some optimistic estimates, with top of the range targets of 1,500 for the S&P500 in the US and 5,600 for the S&P/ASX200 (if not higher). Russell Investments suggest more measured performance is l...
- There are quite some scare mongering myths around when it comes to buying gold as a store of value- Richard Mills believes many of those myths can be tracked down to sources with an obvious self-interest- buying numismatics is not the ideal way to protect your savings, he warns No Reason Today for Yesterday’s Executive Order 6102By Richard (Rick) MillsAhead of the herdAs a general rule, th...
The Australian dollar has traded in a relatively tight range overnight, with this trend likely to continue until later this morning when employment data for February is due to be released.
By Greg PeelThe Dow closed down one point while the S&P lost one point to 1320 and the Nasdaq fell 0.5%.Yesterday in Australia we saw weak housing finance numbers and a dip in consumer sentiment, the latter largely attributed to higher petrol prices and carbon tax fear. Along with ex-dividend influence, the market fell 0.8% despite the overnight rally on Wall Street. But it was resources stock whi...
The Australian Dollar traded in a 40 pip range (1.0060 - 1.0100) during the Asian time zone with the market holding steady in buying or selling the local unit. Despite a relatively downbeat reading in the Westpac Consumer Sentiment report (Actual -2.4%; Previous 1.4%), its lowest reading since July 2010, as investors still continue to weigh up the timing of the next move in domestic interest rates.
The Australian share market closed lower as investors ignored a positive lead from United States markets and pulled back from the resources sector.
US wholesale inventories rose by 1.1pct in January to $436.88 billion the highest level since November 2008.
The Royal Bank of Scotland (RBS) has released a report which found during the first stages of the resources boom, unemployment was actually very low across the entire country.
The Australian government has committed $3.3 million towards a world-first education centre in Washington DC honouring Vietnam veterans.
The Australian Dollar is weaker this morning, currently around the USD1.0100 level as equity markets recovered their previous day’s losses and oil eased.
- Things seem to be going from bad to worse for alternative energy play Geodynamics- February revealed a large interim loss and S&P removed the stock from the ASX300- Investors appear in particular concerned about rapid cash burnBy Rudi Filapek-VandyckPrior to January 2008, owning shares in alternative energy play Geodynamics ((GDY)) may have seemed like a good idea. Since then, however, the price...
By Jamie SaetteleI wrote Friday that “the short term count makes the case for one more high before a more important top registers. Gold has pulled back from a record high but focus remains the next big round figure at 1500. Keep an eye on weekly resistance lines as well (there are 2 lines – one extended from the December 2009 and December 2010 highs and one extended from the May 2010 a...
The Australian Dollar opens marginally weaker against the greenback today at 1.0100.
Soaring bank shares led the broader U.S. stock market higher Tuesday as Bank of America raised hopes it will increase dividends and share buybacks.
US chain store sales rose 2.3pct last week compared with the prior week. Chain store sales are up 2.6pct on the same period a year ago.
