The share market on the 9th of October saw an Asian shares rise, but was still topped by the concerns over the prospects of global growth. These concerns were based mainly on the expectedly weak U.S. corporate earnings and a slump in China's economic growth, which is the second largest in the world.
Dow down. Gold steady. And the ten-year T-note at 1.73%... about 20% higher than earlier this year.
The first words we heard Tuesday morning were: '...starting to think Super is not the solution to...' Then we hit the snooze button for another 9 minutes of peace and quiet.
Local stocks are trading modestly higher at lunchtime in the East, shrugging off a lacklustre finish on Wall Street. European markets were well supported thanks to solid moves from retail stocks; however US markets closed largely flat. At lunchtime in the East, the All Ordinaries Index (XAO) is up 7.6pts or 0.2pct to 4512.8.
British Airways has indicated in a submission to the Australian Competition and Consumer Commission (ACCC) that it is considering quitting from the London-Australia route, more popularly called the Kangaroo route. The London-based air carrier cited Qantas recent preference for Emirates as its alliance partner as reason behind its change of plan.
By Ron Bewley, Switzer Super ReportFor the first time in well over a year, we are not anxiously awaiting news each morning from the US and Europe on the state of the economy and bailouts.
By Greg PeelThe Dow closed down 18 points, or 0.1%, while the S&P was flat at 1432 and the Nasdaq lost 0.
The Australian sharemarket had yet another quiet day with only $3.3 billion worth of shares exchanging hands. The All Ordinaries eased by 0.1 per cent or 6.7 pts to 4505.2, losing ground for the second consecutive session and for the third time this week.
Some cattle ranchers in drought-stricken states are stealing grass and hay from their neighbors to feed their hungry herds.
ocal stocks continued to slide away from 14 month highs this morning, following another poor night on US and European markets. Wall Street eased was hit by more concerns over the outcome of the current 3rd Quarter reporting season.
Arrium sold its majority stake in Steel & Tube, a New Zealand company, for $74 million. The sale is expected to drastically reduce the more than $2 billion debt of the steel, mining and mining consumable company that used to be known as OneSteel.
By Greg PeelThe Dow fell 128 points, or 1.0%, while the S&P dropped 0.6% to 1432 and the Nasdaq lost 0.
By Andrew Nelson in FloridaIt's an age old chestnut and God knows where it came from (not facts, that's for sure), but many in the US will stand by the claim that Republicans are good for the market.
By Rick Mills, Ahead of the HerdAs a general rule, the most successful man in life is the man who has the best informationOverheated US housing prices started dropping in 2006.
After hitting a 14-month high yesterday, the Australian market ended in the red for the second time this week. The All Ordinaries Index (XAO) eased by 0.3 per cent or 14.7 pts to 4511.9. Keep in mind that both the volume and dollar value of shares exchanging hands remains light.
Local stocks have retreated from 14 month highs today, following a lacklustre session on US and European markets overnight. Wall Street eased into the red due to a lack of direction with no economic data released, and as investors showed nerves ahead of the start of the reporting season. At lunchtime in the East, the All Ordinaries Index (XAO) is down 13.6pts or 0.3pct to 4513.
By Greg PeelThere would be few Australians unaware of Breville electric household products. The company was established in 1932 and on my reckoning probably cemented its Vegemite-style iconic status around about the seventies, by which time seemingly every home could boast a Breville toasted sandwic...
To develop a more profitable tourism industry, Ecotourism Australia Chief Executive Kym Cheatham pushed for more focus on high-value visitors instead of just increasing the number of tourists.
Qantas is on an apparent collision course, not against Virgin Australia or Tiger Airways or Middle Easter air carriers, but against the premier of New South Wales (NSW) over the plan to build a second airport in Sydney.
By Alexander Green, Investment U Chief Investment StrategistHere's a brainteaser for you. Does the chart below represent:A.
By Greg PeelThe Dow fell 110 points, or 0.8%, while the S&P lost 1.0% to 1441 and the Nasdaq dropped 1.
The Australian sharemarket improved for the eighth time in nine sessions, with the All Ordinaries Index (XAO) rising by 0.5 per cent or 24.6 pts to 4526.6. Last night, European markets slumped by as much as 2 per cent, with shares in Milan amongst the biggest losers. France's CAC40 and Germany's DAX Index both slid by close to 1.5 per cent. The CAC40 and DAX are France and Germany's equivalents to Australia's All Ordinaries Index (XAO).
Japan's top three carmakers, Toyota Motor Corp., Nissan Motor Co. and Honda Motor Co., decided to cut production in China by roughly half as a territorial dispute between Chinese and Japanese governments continues. Due to the territorial dispute Japan's carmakers have noted a decrease in sales in the world's largest auto market.
According to a survey held on the 8th of October, the China's services sector recovered in the month of September after being hit by nearly a one year low on the growth in the month of August. These results followed an official assessment that seemed a lot gloomy in the previous week.
The World Bank cut its economic growth forecast for the East Asia and Pacific region, saying there was a greater risk of deepening slowdown in China and weakening global demand.
The International Monetary Fund has today cut its growth forecasts for China for this year and next, saying stimulus efforts have so far failed to deliver the expected boost. The downgrade appears to have been factored into local sentiment, with Australian stocks hitting a fresh 14 month high in early trade. The All Ordinaries Index (XAO) is up 17.1pts or 0.4pct to 4519.1pts at lunchtime in the East.
By Greg PeelThe Dow fell 26 points, or 0.2%, while the S&P fell 0.4% to 1455, with the Nasdaq down 0.8% (Apple down 2.
By Eva BrocklehurstAccording to the latest Russell Investments quarterly survey of Australian investment managers, we should expect a sustainable turnaround in the Australian share market within 12 months.
The Australian sharemarket ended in the red for the first time in eight sessions, with the All Ordinaries Index (XAO) easing by just 0.3 per cent or 11.8 pts to 4502. Keep in mind that last week, shares improved by 2.5 per cent, which was the local market's third best performance this year.
On Friday the US market closed mixed as the early excitement over the better than expected US jobs report started to dwindle away. The NASDAQ closed in the red as Apple and Zynga shares pulled the index lower. Metal prices lost ground and concern over European growth added to the pain.
