Local stocks ended the week on a sound footing as investors continued to push the index towards the 5000 mark. The re-emergence of European political risk has been one of the main themes for investors globally this week. The local experience suggested that investors were willing to support the market in the face of the modest amount of weakness that was on offer in recent days.Some of the main points of the day included, The stock market hitting a 22-month high, miner Newcrest reporting half yea...
Swiss bank Credit Suisse informed that it would further cut costs as it saw its fourth quarter profits be lower than initially expected. As it was highlighted, the fourth quarter profits slumped as the investing business of the bank proved to be frail.
Perth Property Scammers: Could It Happen Again?
All this week we've been on a mission for you, dear reader. We've been looking for the one sector or industry that's going to drive the Australian share market higher with breakthrough earnings and profits. But maybe we've been looking in the wrong place. Maybe it's a simple as Japan.
In the business world, social media is emerging as the great equalizer, especially for small businesses who are flocking to it like . . . well . . . social butterflies.
The Australian sharemarket is improving for the third consecutive session, with the All Ordinaries Index (XAO) up 0.2 per cent or 11.6 pts to 4967.4, despite a slow start to this morning. Over the past five trading sessions, the XAO has edged higher by almost 0.5 per cent. If the market can maintain its gains for the duration of the session and economic news out of China doesn't disappoint this afternoon, this will make it four consecutive weeks of improvement.
By Greg PeelThe Dow closed down 42 points, or 0.3%, while the S&P lost 0.2% to 1509 and the Nasdaq eased back 0.
The local share market consolidated against a mixed picture for International and regional indices on Thursday. Local employment data generated conversation about the RBA's next move on rates whilst corporate news was on tap from a host of corporates including National Australia Bank and Telstra.
War between the US and China - an unpleasant thought, for sure...unless you happen to be a defense contractor. The threat of war could be sufficient to power the US defense industry's profit growth for many years.
While Gina Rinehart remains Australia's richest person despite the reduction of her wealth by almost $1 billion to $17 billion due mainly to lower commodity prices, the mining magnate appears to be set on recovering her lost fortune.
Standard and Poor’s Blamed For Defrauding Investors
On the 6th of February, ArcelorMittal SA informed that it reported a big loss for the final quarter due to weak Europe's demand for steel and write-downs in the value of its assets. However, the world's largest steelmaker informed that demand for steel would improve in 2013. Also the company's earnings are expected to improve during the year.
The Australian sharemarket kicked the session off in the red for the third time this week, however is managing to recover at lunch. The All Ordinaries Index (XAO) is up by 0.1 per cent or 3.9 pts to 4944.4. A number of the largest companies on the local market have issued their profit numbers this morning.
British Petroleum Plc posted a 72 percent slump in the fourth fiscal quarter profits as the company had to pay a heavy fine and restructuring charges regarding the Deepwater Horizon oil spill. Also a fall in the production of oil and gas led to weak fourth quarter profits.
Never was working-class Baltimore happier with its lot in life. Neighbors greeted each other with a smile. Co-workers exchanged stories...laughed...and slapped each other on the backs.
Australian investors have turned decidedly bullish over the past few months, right along with the improvement in global equity markets.
In today's Daily Reckoning we revisit an old friend: China. That is, we revisit the importance of China to Australia's economic, political, and demographic future. And we'll take a look at China's large influence on Australia's present. And since we're talking Pacific Powers in the Asian Century, Japan will make a cameo appearance.
By Jonathan BarrattGold looks to be in tight range; it feels as if it is been torn between those looking for the inflation hedge and continuing CB activity against those expecting it to come under pressure as a result of "risk" coming off the table.
Instead of expanding its Olympic Dam project, BHP Billiton (ASX: BHP), the world's biggest miner, is on a contracting mode. On Wednesday, the miner announced job cuts at its copper-uranium-gold project.
By Greg PeelThe Dow closed up 7 points, while the S&P was flat at 1512 and the Nasdaq lost 0.1%.It was interesting to note the market reaction on Bridge Street to yesterday's weak December retail sales number (down 0.
The Australian share market rallied today, fighting back after two days of losses and in response to a stellar session on US and European markets. The Dow Jones Index climbed back above 14,000pts overnight while all 10 S&P sectors were higher.
The Australian sharemarket is back in the black following two straight sessions of weakness. The All Ordinaries Index (XAO) is up 0.8 per cent or 40.6 pts to 4943.2. This is the 12th time in 15 sessions that local shares are improving.
On the 4th of February, Japan Airlines informed that it raised the operating profit forecast to 163 billion yen from analysts' expectations of around 140 billion yen. Despite sluggish fourth quarter earnings, the airline the airline decided to raise the forecast slightly more than 15 percent as demand for the European and American routes climbed.
By George Magnus, economic advisor to UBS Investment BankIn 2013, China is at an important crossroads in its economic development.
By Greg PeelThe Dow closed up 99 points, or 0.7%, while the S&P gained 1.0% to 1511, with the Nasdaq rising 1.
-Cochlear facing some competition-Brokers prefer ResMed-More Sell ratings-China tender the main positiveBy Eva BrocklehurstCochlear ((COH)), at the top of the market for hearing implants, is getting some push and shove.
The last 24 hours has provided some perspective for global stock indices which have rallied substantially since the end of last year. Corruption allegations levelled at the Spanish Prime Minister Rajoy roiled European markets. Additionally, Italy's former Prime Minister Berlusconi has gained ground in the polls ahead of elections this month. Mr Berlusconi has been campaigning a platform of rolling back current austerity policies.
Local stocks are trading in the red at lunchtime in the East, following falls on European and US markets overnight due to political concern in Europe. The Dow Jones Index suffered a triple digit loss, after climbing above the 14,000pt level on Friday for the first time in five years.
By Andrew NelsonJanuary was an interesting if not riveting month for uranium market watchers. Volatility was the name of the game, but the good news for investors and producers is that while it may have been volatile, January was still a positive month in terms of spot price movements.
British Airways has informed Australian flag carrier, Qantas, that it would not reinstate its code-share agreement for connecting flights between Asia and London when their decades-long partnership officially ends on March 31, reports said.
