The Australian market has shrugged off the weakness from global markets on Friday, with the All Ordinaries Index (XAO) up 0.7 per cent. Some better than expected signs for China's manufacturing sector on Sunday are helping lift equities at lunch. The XAO remains well above 5100.0pts.
Before we get stuck into today's Daily Reckoning, just a reminder to watch out for a special report from Gowdie Family Wealth editor Vern Gowdie tomorrow. Vern makes some pretty big claims. We won't go into it here, but if you think we're bearish, check out Vern's well-reasoned analysis for a comparison.
According to reports Vodafone Group and Verizon Communications are in advanced discussions about a sale of the holding for about $130 billion. Vodafone Group Plc (VOD) is in talks to sell its 45 percent stake in Verizon Wireless to U.S. partner Verizon Communications Inc. in what would be the biggest deal in more than a decade.
The uptrend has held for a 10th week. The market remained flat as the uptrend stop was tested for a second week in a row.
The modest improvements recorded at midday were built on in the afternoon, with shares closing at intra-day highs. The All Ordinaries Index (XAO) jumped by 0.8 per cent, the fourth improvement for the week and pushing the XAO back above 5100pts.
The Canadian Transport Authority (CTA), the national regulator of the aviation industry, ordered on Thursday Air Canada and Porter Airlines to amend the amount they pay air travelers who fail to reach their destinations according to plan.
The Australian sharemarket is improving modestly for the fourth time this week. Conflict in Syria is still a problem for markets; however the chance of an imminent US led military intervention seems to have diminished for the time being. Overnight, the British parliament voted against using force in Syria.
By Rudi Filapek-Vandyck, Editor FNArenaI joined Twitter. Not because I am curious what this celebrity has to say about her kids, or to read that another one is waiting for a connecting flight, impatiently.
Australian flag carrier Qantas is slowly beginning to turnaround financially as the air carrier logged $6 million full-year net profits, its first after it suffered from its first loss since the company was privatised.
By Greg PeelThe Dow closed up 16 points or 0.1% while the S&P gained 0.2% to 1638 and the Nasdaq added 0.
Our operating hunch is that US stocks, Treasuries and gold have all turned over recent months.
Emerging markets are in all sorts of trouble, and with the oil price preparing for another Middle Eastern war, centred this time in Syria, their problems are about to get worse. A collapsing currency combined with a rising US dollar oil price is a big tax on economic growth, and it comes at precisely the wrong time for the global economy.
McDonald's the world's most popular hamburger chain is getting into the chicken wing business. After several months of testing in Chicago, McDonald's is preparing for a nationwide rollout of its "Mighty Wings" next month, the company has confirmed.
The Australian sharemarket rose modestly today, with concerns relating to Syria put on the backburner briefly. The All Ordinaries Index (XAO) edged higher by 0.1 per cent, with the underperforming (yesterday) mining & energy stocks leading the improvements.
Colombian rebels who belong to the National Liberation Army (ELN) released on Tuesday Canadian mining executive Gernot Wober after 221 days in captivity.
By Jonathan BarrattAs we have already seen a 20% rally in gold from the lows of US1180 we have to assume, based on a technical footing, that the bull market is back with us.
By Greg PeelThe Dow rose 48 points or 0.3% while the S&P gained 0.3% to 1634 and the Nasdaq added 0.4%Result season took a back seat on Bridge Street yesterday as offshore pressure finally became too much and Australia joined in a Syria-related risk-off divestment which saw cyclicals dumped, with ma...
Australian shares finished firmly lower at the close, with the All Ordinaries Index (XAO) slipping by 1 per cent. The losses within the mining sector worsened throughout the afternoon, with the S&P/ASX200 Materials Index falling by 2.1 per cent.
After doing little on Monday and Tuesday, the local market is recording its biggest daily slump since 7 August. The most significant driver is the tension in Syria. The potential for a US led military strike has been pushing gold and oil prices higher, while equities have been punished.
By Peter Switzer, Switzer Super ReportThere are about four weeks to go for this taper-talk anxiety, which has been unsettling markets.
By Greg PeelThe Dow fell 170 points or 1.1% while the S&P lost 1.6% to 1630 and the Nasdaq dropped 2.0%.
The All Ordinaries Index (XAO) eased modestly after a slightly improvement on Monday. The 5100pt mark remains key for the ASX200; a level we've traded above for three straight sessions. The Australian market hasn't traded above the 5100 in a decisive manner however since June 2008. Weakness from the mining, energy, industrials and telcos kept the market a touch lower. Improvements from three of the four major banks helped to limit the losses; however wasn't enough to push the broader XA...
The Australian share market is only slightly weaker in the early session despite falls on Wall Street overnight on Syria concerns. US Secretary of State John Kerry blasted Syria for its use of chemical weapons, sending the Dow Jones Index into free-fall in the afternoon session. European shares were mixed in thin trade on Monday with the UK markets shut for the bank holiday.
Caltex Australia reported on Tuesday a 13 per cent drop in first half profit due to the sharp decline of the Australian dollar, while fuel sales also suffered because of production outages at a Brisbane refinery and damage to a Sydney pipeline.
By Greg PeelA speculative buy order which hit the spot uranium market a few weeks back looking for sellers at the right price was withdrawn two weeks ago, leading to some scrambling selling and a US75c fall in spot.
Google Hangouts has become an Internet sensation, on its own it has propelled the Google+ Social Network to number two behind Facebook. What has been amazing has not been the take up of Google+ although this was to be expected, but just how many business were embracing Google+ Hangouts.
First, a quick look at the markets. The Dow rose 66 points yesterday. Gold stayed flat.
By Greg PeelThe Dow fell 64 points or 0.4% while the S&P lost 0.4% to 1656 and the Nasdaq was relatively flat.
The Australian share market kick-started the trading week on a slightly positive note, with the All Ordinaries Index (XAO) adding 0.2 per cent.
The Australian sharemarket has been modestly higher this morning, with the All Ordinaries Index (XAO) up 0.1 per cent at lunch. The XAO is trading above the 5100.0pt mark once again; something which has only happened a handful of times over the past two months.
