MARKETS

U.S. stocks fell for a third straight day Thursday as worries persisted over turmoil in Libya and how the resulting surge in oil prices might affect the U.S. economic recovery.

US initial jobless claims fell by 22,000 to 391,000 in the last week. US new home sales fell 12.6pct to 284,000 in January.

U.S. stocks fell for a third straight day Thursday as worries persisted over turmoil in Libya and how the resulting surge in oil prices might affect the U.S. economic recovery.

- Africa is not getting its act together as supplier of natural resources to the world- China has become the number one industrial contractor to Africa- It is possible that China will slow down more in order to avoid more mayhem across the globe By Gavin Wendt, Founding Director & Senior Resource Analyst MineLife Pty LtdI had the opportunity to attend the annual Indaba mining conference in Cape To...

- Africa is not getting its act together as supplier of natural resources to the world- China has become the number one industrial contractor to Africa- It is possible that China will slow down more in order to avoid more mayhem across the globe By Gavin Wendt, Founding Director & Senior Resource Analyst MineLife Pty LtdI had the opportunity to attend the annual Indaba mining conference in Cape To...

By Greg PeelThe Dow closed down 37 points or 0.3% while the S&P fell only 0.1% to 1306 and the Nasdaq actually closed 0.6% higher after two days of sharp drops.It was an unusual start to the session on Wall Street last night – unusual because the economic data were poor and that has not been the trend of late. New durable goods orders rose 2.7% in January but only because of lumpy aircraft o...

By Greg PeelThe Dow closed down 37 points or 0.3% while the S&P fell only 0.1% to 1306 and the Nasdaq actually closed 0.6% higher after two days of sharp drops.It was an unusual start to the session on Wall Street last night – unusual because the economic data were poor and that has not been the trend of late. New durable goods orders rose 2.7% in January but only because of lumpy aircraft o...

The gradual disintegration of Libya, coming after the collapse of the regimes in Egypt and Tunisia, plus demonstrations in Algeria, Bahrain, Yemen and talk of unrest on Saudi Arabia has combined to send oil prices higher.The AMP's chief strategist and economist, Dr Shane Oliver looks at expensive oil and what it means.Oil prices are surging again. While US West Texas Intermediate is lagging d...

The gradual disintegration of Libya, coming after the collapse of the regimes in Egypt and Tunisia, plus demonstrations in Algeria, Bahrain, Yemen and talk of unrest on Saudi Arabia has combined to send oil prices higher.The AMP's chief strategist and economist, Dr Shane Oliver looks at expensive oil and what it means.Oil prices are surging again. While US West Texas Intermediate is lagging d...

The Australian Dollar has opened unchanged from late yesterday, despite the developments in the Middle East, which is weighing heavily on risk tone and associated risk asset classes.

Stronger-than-anticipated wages growth in Australia helped to push the currency back over parity against the greenback yesterday.

U.S. stocks fell for a second straight session as investors dumped shares of Hewlett-Packard and oil continued higher on concerns over Libya.

US existing home sales rose by 2.7pct to an annual rate of 5.36 million in January - against expectations for a fall.

By Greg PeelThe Dow fell 107 points or 0.9% while the S&P fell 0.6% to 1307 and the Nasdaq dropped another 1.2%.It started with one man's suicide protest in Tunis and now, by the virtue of the internet and social networking, it has spread across the Arab world led by disaffected youth who are exponentially better informed than their parents were at their age. In the Kingdom of Saudi Arabia, it is ...

- Unrest In Middle East boosting oil prices - ANZ Sees scope for further US$20 per barrel jump if unrest continuesBy Chris ShawWhen signs of unrest in Egypt first emerged late last month the oil market began to aggressively price a risk premium into the crude oil market. As ANZ Banking Group notes, this risk premium has seen both Brent Crude and West Texas Intermediate Prices spike by close to US$...

- Global Construction posts strong interim result - DJ Carmichael lifts earnings forecasts and price target - Maintains Buy ratingBy Chris ShawCommercial and residential construction group Global Construction Services ((GCS)) delivered an 86% increase in net profit compared to the previous corresponding period, DJ Carmichael viewing the profit of $9.1 million as a high quality result.Earnings were...

- Global Construction posts strong interim result - DJ Carmichael lifts earnings forecasts and price target - Maintains Buy ratingBy Chris ShawCommercial and residential construction group Global Construction Services ((GCS)) delivered an 86% increase in net profit compared to the previous corresponding period, DJ Carmichael viewing the profit of $9.1 million as a high quality result.Earnings were...

Coca-Cola Amatil Ltd shares rose yesterday after the company delivered on its lowered guidance for the year to December, and indicated that it had made a solid start to 2011.The shares finished up 31c or, 2.7%, at $11.68.That's still around a dollar under the 52 week high of $12.74 set late last October before the company first warned that the cool, mild and wet weather was having an impact o...

Coca-Cola Amatil Ltd shares rose yesterday after the company delivered on its lowered guidance for the year to December, and indicated that it had made a solid start to 2011.The shares finished up 31c or, 2.7%, at $11.68.That's still around a dollar under the 52 week high of $12.74 set late last October before the company first warned that the cool, mild and wet weather was having an impact o...

- Mirvac interim result better than expected - Forecasts lifted in line with guidance update - Recommendation upgrades on relative valueBy Chris ShawProperty development group Mirvac ((MGR)) delivered an interim operating profit of $200.1 million, a result boosted by higher net operating income and lower interest charges and showing better than expected numbers from the investment management and h...

- Producer's hedging their precious metals prices is making a return- So far the come-back appears limited to by-product producers - This favours gold over silver this year Why Hedging Isn’t a Dirty Word for Precious Metals Anymore…By Tony D’Altorio , Investment U Research Tuesday, February 22, 2011For years, hedging was a dirty word among gold and silver miners. It meant they h...

The Australian Dollar has opened weaker this morning, currently trading around the parity level after trading to a low of 0.9970 in the offshore session.

The Aussie opens lower today at 0.9975 after another session of risk aversion on speculation political unrest in the Middle East and North Africa will intensify.

The Standard & Poor's 500 stock index posted its biggest intraday drop of the year Tuesday as escalating tensions in the Middle East and North Africa sent oil prices soaring.

US consumer confidence rose from 64.8 to 70.4 in February - marking the highest reading in three years and well ahead of analyst expectations.

(This story was first published on February 15, 2011. It has now been re-published to make it available to non-paying members at FNArena and to readers elsewhere).-Egypt is not responsible for the spread between WTI crude oil and European Brent- West Texan Intermediate has lost its relevance because of specific circumstances- Crude oil in most other price benchmarks is priced around US$100 per bar...

(This story was first published on February 15, 2011. It has now been re-published to make it available to non-paying members at FNArena and to readers elsewhere).-Egypt is not responsible for the spread between WTI crude oil and European Brent- West Texan Intermediate has lost its relevance because of specific circumstances- Crude oil in most other price benchmarks is priced around US$100 per bar...

By Greg PeelFNArena's thoughts and best wishes go out to our mates across the ditch at this time.The Dow fell 178 points or 1.4% while the S&P dropped 2.1% to 1315 and the Nasdaq shed 2.7%.The two juxtaposed images which were most stark to me over the past 24 hours are that of an idiot sitting in a car with an umbrella to prove he was still in Tripoli and that of two Libyan fighter planes landing ...

By Greg PeelFNArena's thoughts and best wishes go out to our mates across the ditch at this time.The Dow fell 178 points or 1.4% while the S&P dropped 2.1% to 1315 and the Nasdaq shed 2.7%.The two juxtaposed images which were most stark to me over the past 24 hours are that of an idiot sitting in a car with an umbrella to prove he was still in Tripoli and that of two Libyan fighter planes landing ...