Shares of Gandalbie Metals (ASX: GBG) jumped 10 per cent on Wednesday after the company made its first shipment of magnetite iron concentrate to China. The commodity was sources from its Karara project.
You're going to read a lot about the 'fiscal cliff' over the next few days. But not in The Daily Reckoning. We could care less. Full speed ahead and over the cliff we go, we say! It would be the best solution for everyone.
Welcome to 2013! The Australian sharemarket had its best start to a new year since 2001, with the All Ordinaries Index (XAO) rising by an impressive 1.2 per cent or 58.3 pts to 4722.9. The House of Representatives in the U.S finally passed the Senate's 'fiscal cliff' bill this afternoon helping to keep the market positive. This was considered to be somewhat of a compromise between the Democrats and Republicans. Tax increases will be introduced but for the higher income earners (+$400,00...
The man looked Russian. He was sitting opposite us at the Pain Quotidien, a café at St Pancras station in London. He was polite about it... but wished to register a complaint with the waiter for neglecting him.
Greg Canavan's new 'Fuse is Lit' film has certainly lit a fire inside the belly of many Aussies.
The Australian share market started the first day of the 2013 trading year in positive territory up 20 points.
New research, which was conducted by the Scotch Whisky Association, shows that Scotch whisky enters its "second golden era" as it generates over £4 billion per year. The undeniable position of Scotch whisky in the Scotland's economy is mainly driven by overseas investment.
While the world is becoming more computer-dependent, children are not anymore interested in traditional toys. Little ones are just drawn to tablet computers.
BG Group just borrowed $1.8 billion from the US Export-Import Bank to close the funding gap in its Queensland Curtis Island Liquefied Natural Gas (LNG) project. Cost blowout has escalated to $20 billion that BG had to source additional funding for the resource venture.
The Australian share market started the day in the red just off 18-month highs. Global market ended lower on Friday night as many European exchange worked through the last day of trading for the year. In the US the DOW JONES eased by 158 points and the NASDAQ also closed lower as the stalemate continued over US budget talks. Rumours that President Obama had no fresh proposals to advance to Congressional leaders for weekend Budget talks hit our market in early trade as investors sold out of minin...
Chinese resources company, Hanlong Group, will have a greater say in global iron ore prices in 2013 as the firm completes the buy-in process of the Mbalam iron ore mine in Africa from Australian miner Sundance Resources (ASX: SDL).
Beijing will introduce tough new laws as well as an "accountability system" to crackdown on rampant food safety violations, the official Xinhua news agency reported, a significant move aimed at the elimination of food scandals that have claimed several lives in recent years.
The Australian sharemarket continued on its strong run, rising for the third straight session and for the 12th time in 14 trading days. Local equities are still at 18-month highs. Global market ended mixed overnight, with the Dow easing by 0.1 per cent, Germany's DAX edged higher by 0.3 per cent while France's CAC40 jumped by 0.6 per cent. The All Ordinaries Index (XAO) rose by 0.5 per cent or 23.9 pts to 4685.3.
Despite falls on Wall Street overnight, local stocks are holding onto 17 month highs in thin trade.
Fortescue Metals Group (ASX: FMG) reactivated its plan to boost its production target of iron ore to 155 million tonnes a year due to improved prices of the commodity in global markets.
After two days of rest, investors cautiously returned to their computers to place trades. It was around four times quieter than a typical session, as expected. The All Ordinaries Index (XAO) still rose by 0.3 per cent or 15.8 pts to 4661.4 making it the 11th session of gains in 13 trading days.
The Australian share market has resumed trade following the two day Christmas break on a subdued note. US markets closed in the red overnight as concerns over the looming "Fiscal Cliff" deadline again dominated, while weaker than expected holiday sales figures prompted selling in retail stocks.
Santori, the largest livestock importer in Indonesia is moving its operations to China. The move was prompted by Jakarta's restriction on live cattle importation following Canberra's own live export ban in 2011.
The Australian sharemarket continued on its strong run to improve for the 10th time in 12 sessions and is still trading around 18-month highs. The All Ordinaries Index (XAO) edged higher by 0.2 per cent or 10.4 pts to 4645.6. All sectors managed to rise modestly, with the utilities the biggest improvers in percentage terms. The local market will be closed on both Tuesday and Wednesday.
The Australian share market is tracking higher in the early session, on a shortened day's trade ahead of the Christmas break. The ASX will close at 2.10pm AEDT this afternoon and will remain closed until Thursday, 27th December.
For more than a year now, Cyprus has been shut out of international capital markets after its banks suffered huge losses from their exposure to Greece
Europe's largest bank by market value will pay $1.9 billion in fines to settle money laundering allegations by US regulators, according to sources familiar with the matter.
Last week saw big moves in the Aussie as we reached highs above 1.0570 earlier in the week on hopes a deal would be done early to solve the fiscal cliff, as the week wore on and hopes dropped so too did the risk correlated AUD.
Fiscal cliff negotiations dominated investor sentiment today, sending local stocks off recent 18 month highs and into the red.
The Australian sharemarket continues its formidable run, with the All Ordinaries Index (XAO) up by 0.4 per cent or 19.2 pts to 4665.8. This makes it the Aussie market's fourth consecutive session of gains. Volume has been heavy over the past few days due to equity and index options expiry yesterday. Today marks the end of the final full week of trade for 2012. The market will be closing early on Monday and will not trade next Tuesday or Wednesday.
Risk assets reversed losses once again driven by headlines regarding the fiscal cliff negotiations. House Speaker John Boehner's pledge to work with President Obama was enough to help improve sentiment. There were also plenty of positive economic releases in the US including a better-than-expected GDP print and existing home sales data.
The overnight market focus was all on the US, and its unresolved talks to avert the so-called fiscal cliff which is doing a good job influencing the market at the moment. This has kept risk appetite low and seen to a slight weakening in the AUD.
The Conference Board leading index eased by 0.2pct as expected. Hurricane Sandy had an influence on the result. US September quarter GDP expanded by 3.1pct, up from the 2.7pct reported last month. US jobless claims rose by 17,000 to 361,000 last week.
By Greg Peel"We think this could be the beginning of a fresh reflation cycle for the global system," BNY Mellon's Simon Derrick told the London Daily Telegraph, "combining with the US recovery to mark a turning point in the crisis".
By Andrew NelsonDespite the twists and turns and a few kicks in the pants, 2012 was a pretty good year for equities.
