US jobless claims fell 31k to 473k in the past week. Those people remaining on unemployment benefits after drawing an initial week of aid fell 62k to 4.46 million.
Blue chip stocks fell Thursday, with declines in Cisco Systems, International Business Machines and J.P. Morgan Chase pushing the Dow Jones Industrial Average below the psychologically important 10000 mark on continued worries about economic growth.
The Conference Board Leading Economic Index for Australia rose 0.1% in June 2010 however private capital expenditure unexpectedly fell -4% from the previous quarter causing the Aussie to dip momentarily to 0.8830 US Dollars midday in Asia
The local market snapped out of its four-day losing streak and had a slight rebound this morning. It followed Wall Street's positive close overnight as the US market rebounded from an oversold position from previous sessions.
Virgin Blue Holdings Ltd (ASX: VBA) said on Thursday that it has regained profit status in fiscal 2010 as it announced further growth strategies by forging more global partnerships and upgrading its domestic fleet with fresh Airbus aircrafts.
Home building companies including Toll Brothers, D.R. Horton and PulteGroup led U.S. stocks modestly higher Wednesday as the market looked past disappointing economic data in the hopes that the housing market has finally bottomed.
US new home sales fell by 12.4pct to a 276,000 annual rate in July. Economists had tipped a decline to 330,000. Home prices were down 4.8pct on a year ago while new home supply equated to 9.1 months of current sales.
Australian shares have fallen to their lowest level in over a month as investors sold out of equities in response to renewed economic concerns in the US.
The Australian stock market is trading lower again today on the back of the overall weakness from offshore markets.
Road management firm Transfield Services Ltd (ASX: TSE) said on Wednesday that it has sealed a preferred contractor status for a $US172 million or $A195.21 million contract with Canada’s Ontario Ministry of Transportation.
US federal regulators announced on Tuesday that two Spanish investors were charged with insider trading as they tried to capitalise on BHP Billiton Ltd’s recent bid to takeover Canadian firm Potash Corp of Saskatchewan.
US existing home sales fell by a record 27.2pct in July to a 15-year low of 3.83 million following the end of a home-buyer tax credit. Forecasts had centred on a result near 4.70m.
U.S. stocks fell Tuesday, with Boeing, Alcoa and Caterpillar leading a broad slide as a record drop in U.S. existing home sales added to investors' worries about the health of the economy. The Dow Jones Industrial Average dropped 133.96 points, or 1.32%, to 10040.45, its fourth straight drop.
Reports published in a Canadian newspaper on Tuesday have indicated that giant mining firm Rio Tinto Ltd is seriously mulling a takeover bid for PotashCorp of Saskatchewan, with a Chinese partner in tow.
Stock market shares hit the lowest figure this August. Shares are lower by one percent this afternoon.
In its sustained campaign to gain more foothold into the ballooning iron ore market, Swiss mining giant Xstrata announced on Tuesday that it is set on a friendly takeover of Sphere Minerals Ltd.
U.S. stocks fell Monday despite acquisition offers from companies including Hewlett-Packard as investors remained concerned about broad economic weakness. The Dow Jones Industrial Average declined 39.21 points, or 0.38%, to 10174.41, its third straight session in the red.
A mixture of local and foreign resource analysts said on Monday that giant mining firm BHP Billiton Ltd (ASX: BHP) is set to report a full year profit of $US12.6 billion once the company’s results are made public on Wednesday this week.
Asian stocks oscillated after speculations the mining sector will benefit from a hung parliament in Australia towered above concerns over the strength of the global economic recovery.
Moody’s Investor Services said on Monday that Virgin Blue Holdings Ltd’s (ASX: VBA) recent decision to halt all its domestic service routes within New Zealand would redound to considerable benefits for its rivals, Qantas and Air New Zealand.
The Australian stock market swung between small gains and losses at midday as resources offset mixed results in other sectors.
The Australian Dollar has opened this morning below 0.8900 after sliding from its Friday close in the US of 0.8940 after the results of the Australian federal election on Saturday that has produced the first hung Parliament in 70 years.
The Aussie dollar fell a cent against the greenback in early Australasian trade this morning following the inconclusive election result.
Political uncertainty has pushed the Australian Dollar to open this morning at 0.8860 against the US Dollar, sliding as much as 0.8%.
The Australian stock market is set to open lower today amid uncertainty in the result of the weekend's federal election.
The Australian bourse continued losing at Friday noon, after a weak start led by losses on Wall Street overnight and disappointing profit results.
Surfwear retailer Billabong International Ltd (ASX: BBG) announced on Friday that its net profit for full year 2010 dipped by nearly five percent but the company quickly set that aside and projected that its profit would surge by as much as eight percent for the rest of the year.
The Australian share market is lower in morning trade, after a negative night on global markets and falls in commodity prices. The All Ordinaries Index (XAO) is down 0.86pts or 38points to 4,470 at lunchtime.
New Zealand’s giant dairy firm Fonterra announced on Friday that company payout for the 2010/11 season would be from $NZ6.90 to $NZ7.10 per kilogram of milk solids, adding that international prices for its products should remain steady on the forecasted period.
A national organization of key players in the aviation and aerospace industry will give the sector a strong voice in public policy and planning.
