MARKETS

Australian Stock Market Report – Afternoon 3-22-13

The Australian sharemarket managed to improve modestly for the first time this week, with the All Ordinaries Index (XAO) rising by just 0.1 per cent. Despite the gains, local shares slumped by 2.9 per cent over the past five sessions. Weakness from the miners continues to be a drag on trade, with iron ore prices slumping by around 15 per cent in just a month. The moves by BHP Billiton, Rio Tinto and Fortescue are quite closely correlated to iron ore price moves in general.
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Australian Stock Market Report – Afternoon 3-21-13

Despite creeping into positive territory at times, the Australian market fell once again, with the All Ordinaries Index slipping 0.1 per cent to 4976.8. So far, this has been the biggest weekly pullback for the local market in 10 months, when the All Ords lost 5.62 per cent in just five days.

A Weak Signal for the Iron Ore Market

The market may be 'primed' for a fall from a technical or charting perspective, but yesterday's move was, not surprisingly, driven by central banks. Although this time Ben Bernanke wasn't involved...not directly anyway.

Drug Giant AstraZeneca to Slash 1,600 Jobs

AstraZeneca PLC, the global pharmaceutical giant and the UK's second biggest drug company, informed that it planned to restructure itself by introducing downsizing program and reorganizing its global research and development operations.

BBC Worldwide is to Get Rid of Lonely Planet for £50m

At last, BBC Worldwide, the entertainment company, informed that after all it sold its Lonely Planet to NC2 Media for slightly over £50 million. Fortunately for Lonely Planet, it is now in hands of US-based NC2 Media which has plans what to do with it and how to run it to make it even more successful.

Sharp Informs About Delay in Qualcomm Investment

Sharp Corp., well known Japan's electronics maker, informed that a second investment from US chipmaker Qualcomm Inc. encountered some difficulties and therefore it was delayed. The delay in Qualcomm investment in Sharp was mainly driven by the inability of meeting terms of the original accord. Certainly, the setback will have an impact on Sharp Corp. which has been struggling to restore its balance sheet.

Aussie Milk Producers Suffer Due to Price War Amid Soaring Global Prices

Australian dairy farmers are crying, not over spilt milk, but over lost income as they continue to be caught in the price war between supermarket giants Woolworths and Coles. Thus, while prices of milk in the international market soar due to the drought that hit neighbor New Zealand, the $1 per litre price tag at groceries continues to hurt their pockets and caused some farms to close.

Australian Stock Market Report – Afternoon 3-20-13

The lack of resolution in relation to the Cypriot bailout remained the main influence on regional markets on Wednesday. The Cypriot parliament has voted against levy on bank deposits by a margin of 36 to 0 with 19 members abstaining. Eurozone officials remain defiant that Cyprus must contribute to its rescue.

Indonesia Considers Opening a Cattle Farm in Australia

To meet Indonesia's target to become self sufficient in its beef meat requirement by 2014, Jakarta said it is considering running a cattle breeding farm in Australia. The Indonesian government pointed to lower production cost as the reason behind the plan.

Australian Stock Market Report – Midday 3-20-13

The Australian sharemarket is falling for the third straight day, taking the losses for the week to almost 3 per cent. The All Ordinaries Index (XAO) down 0.74 per cent and has slipped below the key 5000.0 point level for the first time this month.

Goldman Reports Spark Rio Confusion

By Greg PeelLast night Goldman Sachs global stock analysts in London downgraded iron ore producers BHP Billiton ((BHP)) to Neutral from Buy and Rio Tinto ((RIO)) to Conviction Sell from Neutral.

It’s Goodbye Lonely Planet for BBC

BBC Worldwide announced on Tuesday the sale of Lonely Planet, its travel guide business, for $75 million. The American company, NC2 Media, is the buyer.

The Overnight Report: Rethink

By Greg PeelThe Dow closed up 3 points, while the S&P lost 0.2% to 1548 and the Nasdaq dropped 0.3%.The Cypriote parliament last night voted to reject the eurozone proposal for a bail-out involving a levy on deposits, large and small.

Australian Stock Market Report – Afternoon 3-19-13

Local shares were up by as much as 0.84 per cent after a few hours of trade, however steadily declined from midday onwards. The All Ordinaries Index (XAO) slipped by 0.46 per cent and has slumped by 2.5 per cent in just two sessions due to concerns relating to the Eurozone's third smallest economy, Cyprus.

Uranium Market Tighter Than Most Think

By Andrew NelsonUranium prices have been fighting an uphill battle ever since the Fukushima disaster shut down all but two of Japan's fifty nuclear reactors.

Cyprus: The Next Blunder

By Prof. Charles WyploszThe Cyprus bailout package contains a tax on bank deposits. This column argues that the tax is a deeply dangerous policy that creates a new situation, more perilous than ever.

Queensland Debates Over Uranium Mining

Despite the 1989 ban on uranium by the then Queensland government, the current state administration is not ruling out the possibility that they may give uranium mining the green light.

Australian Stock Market Report – Midday 3-18-13

The Australian sharemarket has wiped out most of last Friday's impressive gains, with the All Ordinaries Index (XAO) down 1.3 per cent or 66.2 pts to 5063.1. Cyprus, the Eurozone's third smallest economy has received a €10 billion assistance package, backed by the International Monetary Fund (IMF). A one-off tax of as much as 10 per cent on Cypriot deposit accounts has created some concerns of bank runs.

The Oil Search Buy Argument

By Andrew NelsonThe FNArena Database shows six Buy calls and two Hold calls and nearly 14% upside to the consensus price target for oil & gas explorer/developer Oil Search ((OSH)).

Enchanting Hong Kong Business Story Continues

Existing rankings of the best and easiest places to do business are created, namely, for those who seek the opportunity of expanding their businesses but they are not sure where exactly to do it and which place gives countless opportunities to earn money, just to say it in the simplest way.

Australian Stocks: What Happened Today?

The analyst principally responsible for the production of this research report is: Howard Humphreys, Director & Lead Research Analyst, Seismic ResearchAsian stocks plummet on Cyprus deposit levyThe euro fell to its lowest level this year against the dollar, while Japanese and U.

Australian Stock Market Report – Afternoon 3-15-13

The Australian sharemarket rose by 1.7 per cent today, largely making up for three consecutive days of weakness. Even when taking into account today's gains, the All Ordinaries index has slipped by 0.16 per cent over the past five sessions. Since the start of January 2013, the local market has jumped by 9.96 per cent, making it the best start to a new year in 21 years. Today was the biggest daily improvement for the All Ords since mid-July 2012.

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