The euro-zone private sector slowed in April according to latest data. The ´´flash´´ composite purchasing managers index fell from 49.1 to 47.4 in April with services down from 49.2 to 47.9 and manufacturing down from 47.7 to 46.0.
U.S. stocks joined a global selloff as weak euro-zone economic data and French and Dutch political uncertainty underscored worries about the region's debts. The Dow Jones Industrial Average slid 102.09 points, or 0.78%, to 12927.17.
Bell FX Currency Outlook: The Australian Dollar is slightly lower this morning, currently trading just above USD1.0300, after weaker than expected local PPI figures yesterday, and renewed fears regarding the state of Europe's economy continued the weaker tone overnight.
Victoria is launching on Tuesday the $1.2-billion Webb Dock container port project. The new port is the Australian state's first major venture under the administration of Premier Ted Baillieu.
There is sufficient room for the Reserve Bank of Australia (RBA) to reduce the overnight cash rate when the central bank's monetary board meets in May, economists and analysts said on Tuesday.
The Australian sharemarket ended in negative territory for the first time in four sessions today. The All Ordinaries Index (XAO) fell 0.3 pct or 14.1 pts to 4430.3. Today was also one of the quietest starts to a new trading week this year. Local shares attempted a comeback at lunch, following a report in China showing a slight improvement in China's manufacturing sector.
Hundreds of new teachers in New Zealand are facing challenges in finding teaching opportunities, with some opting to teach overseas, as more teachers hold on to their jobs and few become available.
A former Iraqi soldier has pleaded guilty to murdering his wife at their Wellington home in September 2011. Najeeb Dawood, 52, appeared at the High Court at Wellington Monday and pleaded guilty to the charge of murdering Eman Hurmiz, 41.
Yemen LNG, run by France's Total, has resumed normal operations three weeks after a bombing at the Marib-Balhaf gas pipeline forced it to stop operations as well as production.
A former British High Commissioner to New Zealand suffered facial injuries resulting to permanent eye damage after a violent mugging in west London. George Fergusson, 56, was mugged while he was walking through a Hammersmith cemetery on his way to a dinner party on Friday night.
The three-digit trading prices of iron ore currently enjoyed in the world market has been predicted to plummet in the next seven years to a tight two-digit price with the influx of African type iron ore, a new research has shown.
As Australia and New Zealand observes Anzac day on Wednesday, RSPCA Australia is pushing for the inclusion of dogs and other military animals in the annual parade.
Bell FX Currency Outlook: The Australian Dollar has opened today in the mid 1.0300's after a fairly uneventful day of trading on Friday.
The Australian dollar and equity markets are seen riding the crest of weekend highs in the early morning trade. The positive leads from the U.S. and Europe will cascade into the markets early on Monday, analyts said.
MORNING REPORT
(6am AEST)The key German Ifo business sentiment index rose for the sixth straight month in April, up 0.1 point to a 9-month high of 109.9.
The Dow industrials rose after better-than-forecast quarterly reports from Microsoft and General Electric pushed blue chips to their first weekly gain this month, while Apple's slide helped lead the technology-oriented Nasdaq into the red.
When ANZ Bank discloses its six-month profit next week, Phil Chronican, the lender's chief executive, will justify the bank's decision to raise mortgage and small business loan rates while the Reserve Bank of Australia (RBA) had retained the overnight cash rate for the third straight month at 4.25 per cent.
All New Zealanders must benefit from economic growth to improve the lives of Kiwis working long hours for low wages, New Zealand Labour leader David Shearer said on Thursday.
The Australian sharemarket was trading in the red for almost the whole session until the last minute or two of the day. The All Ordinaries Index (XAO) rose 0.1 pct or 3.1 pts to 4444.40, making it three days of gains this week.
The decade-long drought that has been punishing Australian farmlands apparently took a break starting last year, leading to record fruit and vegetable harvests as of the first quarter of 2012 and market price retreats of about 25 percent, reports said.
Higher oil and gas prices, the takeoff of new projects in Australia, Indonesia and Vietnam, coupled with improved weather conditions and a modification in accounting practices proved to be allies that helped advance the revenues and production output of Santos Ltd. this first quarter of 2012.
Demand by the jewellery market of China has been forecast to soar 35 per cent in the next five years as Chinese locals get to increase their financial worth with a growing disposable income.
Bell FX Currency Outlook: The Australian dollar has opened marginally lower this morning, as weaker US economic data and rumours of a possible downgrade to France's credit rating saw a cautious mood return to the market.
MORNING REPORT
(7am AEST)The Philadelphia Fed survey fell from 12.5 to 8.5 in April - a three month low. Across the sub-indices, new orders and shipments both fell modestly. US weekly jobless claims fell by 2,000 last week from a upwardly revised 386,000 in the prior week.
Stocks slid for a second straight day as a trio of disappointing economic readings outweighed better-than-expected earnings reports from Travelers and others. The Dow Jones Industrial Average declined 69 points, or 0.5%, to 12964. The Standard & Poor's 500-stock index shed 8.2 points, or 0.6%, to 1377, and the Nasdaq Composite ticked down 24 points, or 0.8% to 3008.
The Australian sharemarket improved for the second straight day, with the All Ordinaries Index (XAO) edging higher by 0.3 pct or 14.1 pts to 4441.3. The dollar value of shares traded also was significantly higher than the first part of the week.
Delays will not only attend the $36-billion national broadband network (NBN) roll out but also considerable budget overshoots, reports said.
OZ Minerals, owner of the Prominent Hill copper mine project in South Australia, is eyeing potential copper and gold mining targets in Chile and Peru.
As quality mineral reserves continue to decelerate and grow thinner, spurred by the world's increasing urbanisation and technological advancements, the very miners that capitalised on these reserves will face jumping operating costs to double in the next five to ten years.
It would be appropriate for the central bank to push down the cash rate at this time, according to Prime Minister Julia Gillard, stressing that in the present situation such move would "widespread benefits for households and business."
