MARKETS

By Greg PeelThe Dow closed down 46 points, or 0.3%, while the S&P lost 0.6% to 1502 and the Nasdaq fell 1.

Local stocks suffered their biggest fall since May 2012 today, slumping by more than two percent as investors booked profits following the recent rally. The All Ordinaries Index (XAO) fell 115.8pts or 2.3pct to 4998.6pts. The ASX/200 (XJO) also dropped below 5000pts, easing by 118.6pts or 2.3pct to 4980.1pts.

To get to salvation, though, you must take the road of repentance. We'll have a look at the major landmarks along the highway. But first, to more pedestrian matters.

Quick, somebody tell the Reserve Bank of Australia (RBA) about natural gas. It's the new investment boom the bank is looking for, only it's already happening in the energy sector, not the housing sector. Even central bankers can't always get what they want.

Australia has enjoyed strong consistent economic growth (over 20 years of expansion), low unemployment and increasing living standards. Its old economy avoided the implosion of the new economy. Its economic performance was underpinned by strong growth in emerging nations, especially China and India, and demand for commodities.

The Australian share market opened lower this morning after a late trade selloff on US markets. US investors sold out of stocks and commodities after US Central Bank (Federal Reserve - FOMC) minutes from its January meeting showed policymaker´s held further discussions on slowing its bond buying program. The US Fed has been restimulating the US economy by buying bonds (basically printing money) and pushing it back into the economy, but if they reduce this program is could stall or slow growth. O...

The European Union will imposed retroactive duties on Made-in-China solar panels and Chinese firms that export the PVs if proven that the panels were sold below production cost because of subsidies.

Supermarket chains Aldi and Lidl topped the annual supermarket survey as they were voted second and third most favorite while rivals Morrisons and Sainsbury were left lagging behind. The survey, which was conducted among the UK's nine biggest supermarkets, named Tesco as the least favorite supermarket.

In a bid to rise from its financial quagmire, Australian flag carrier Qantas will issue in the third quarter of 2013 a pre-paid credit card which will load 9 different currencies.However, Qantas reported on Wednesday a bit of financial relief when it logged almost a triple first-half profit of $111 million.The credit card, which could also be used as a travel card in 35 million locations around the world that would earn holders points on eligible purchases, would be issued to 9 million ...

By Greg PeelThe Dow fell 108 points, or 0.8%, while the S&P fell 1.2% to 1512 as the Nasdaq dropped 1.

Local stocks closed at fresh four and a half year highs today, boosted by positive momentum in offshore markets and generally strong earnings results. The All Ordinaries Index (XAO) rose by 14pts or 0.3pct to 5115, its best level since early September 2008.

The Australian sharemarket is improving for the third straight day, with the All Ordinaries Index (XAO) up 0.3 per cent or 15.6 pts to 5116.6. This takes the gains so far in 2013 to 9.6 per cent. It isn't a huge surprise that markets are higher, with shares up close to 2 per cent overnight in Europe. This was partly thanks to some positive signs for the future outlook of the German economy.

By Greg PeelThe Dow rose 53 points, or 0.3%, while the S&P gained 0.7% to 1530 (another new 5-year high) and the Nasdaq added 0.

-Brokers raise earnings estimates-New JV in the UK-Solid leasing outlook-More organic growth to comeBy Eva BrocklehurstMacmillan Shakespeare ((MMS)), which provides workplace benefits administration services, has pleased brokers with its strong first half.

-Brokers raise earnings estimates-New JV in the UK-Solid leasing outlook-More organic growth to comeBy Eva BrocklehurstMcMillan Shakespeare ((MMS)), which provides workplace benefits administration services, has pleased brokers with its strong first half.

The Australian sharemarket has improved for the 15th time in 20 trading sessions, with the All Ordinaries Index (XAO) up 0.4 per cent or 18.1 pts to 5101.00. Local shares are now hovering around their best levels since August 2008. Global markets were quiet overnight due to the U.S President's Day public holiday which kept American markets closed.

If you think pharmaceutical drugs, vaccines, and various other instruments of modern Western medicine are responsible for improving quality of life and increasing the average lifespan in America, think again.

Local stocks are slightly firmer in the early session, consolidating four and a half year highs reached on the All Ordinaries Index (XAO) yesterday. It's a significant consolidation given Wall Street was closed overnight for Presidents' Day holiday and European markets closed in the red for a third consecutive session.

In the darkness of the night on the 17th of February, RDA Holding Co., publisher of legendary Reader's Digest, filed for Chapter 11 protection to cut as much as $465 million in debt. It is the second bankruptcy of the over 90-year-old magazine in nearly four years. The publisher of Reader's Digest has informed that it will focus on electronic media as the shift from print to digital media is inevitable.

Germany recently made big news by announcing its plan to bring home part of its massive gold reserves. By retrieving 300 tons from New York and all 374 tons from Paris, 19% of its holdings - $36 billion worth - will be repatriated. By 2020, Deutsche Bundesbank expects to have 50% of its gold reserves stored in its Frankfurt vaults.

Today, we hold our hat in our hand; we bow our head...and let our mouth fall open in amazement. Our Lenten programme of fasting, prayer and meditation is producing results. We are lightheaded from near-starvation and alcohol deprivation. But our thoughts are clear. Or else, we are hallucinating.

The good news is, it's easy to predict what will happen to the world economy in the next few years. The bad news is, the governments won't let it happen. And who knows what they'll come up with instead?

Carlsberg witnessed a decline in its quarterly profits as sales slumped in the Russian and Northern European markets. Similarly, shares of the company shrank following lower-than-expected fourth quarter earnings and high beer making expenses.

UK Prime Minister David Cameron arrives in India on the 18th of February with the biggest ever trade mission and will take part in three-day talks with Indian authorities.

A study by the University of Queensland released on Tuesday said that Australia would have to include coal in its power generation mix until 2035. Coal is one of the leading sources of greenhouse gas emissions and supplies 80 per cent of Australia's current power requirements.

By Andrew NelsonUranium trading was pretty steady last week, with six transactions reported and just under one million pounds changing hands.

By Greg PeelThey met in Moscow on the weekend to declare there "is no Currency War". With the meeting out of the way, the War resumed last night.

Local stocks have started the trading week on a positive note, boosted by hopes of good results during the busiest week of reporting seas. European markets were weaker on Friday while US markets closed flat. Locally, the All Ordinaries Index (XAO) added 28.3pts or 0.6pct to 5082.9pts, its highest level since September 8, 2008.

The Australian sharemarket is improving by 0.6 per cent or 31.4 pts to 5086, adding to five straight weeks of gains. Global markets were mixed on Friday night, however U.S equities (shares) edged higher by a modest 0.1 per cent. Global investors could remain a little cautious today to overcommit due to the President's Day public holiday in North America. U.S shares will be closed on Monday however will return to trade normally on Tuesday.