POLITICS & POLICY

MARKET CLOSE (4.30pm AEDT)The Australian sharemarket completely wiped out the modest gains recorded yesterday, with the All Ordinaries Index (XAO) falling 0.4 pct or 15.6 pts to 4365.6. On Monday, the XAO rose by 16 pts.

Australia is getting spooked, after global mining, oil and gas company BHP Billiton revealed observing signs of a further weakening demand of iron ore from China, instantly kicking the Australian dollar to plummet against the U.S. dollar to below $1.0600.

The federal government has agreed to accommodate concessions on its Future of Financial Advice legislation, a move that is said was necessary to provide more breathing room for the proposal to win parliamentary approval.

Canada-based Ucore Rare Metals Inc. has put up a new team of mine-development specialists to facilitate the immediate production of its rare earths project at Southeast Alaska.

Bloggers charge it was a publicity stunt that resulted in the rare tiger's death.

Prime Minister Julia Gillard scored a victory Monday night as the Australian Senate approved her proposed minerals resource rent tax (MRRT) that will soon collect 30 percent tax from profits generated by the country's mining giants.

Australian rare earths miner Lynas Corp. welcomed the creation of a Malaysian parliamentary select committee (PSC) to intervene on its beleaguered Lynas Advanced Materials Plant (LAMP) facility, saying it is confident the committee will not be used as mileage to further harass the existence of its yet to be operational plant in Gebeng, Kuantan.

Another session of positive leads from overnight trades in the U.S. and partly from European markets will bode well for Tuesday's trading in Australia.The markets in the U.S. moved forward with Apple Inc. leading the way with shares selling $600 a piece in reaction to company announcements that cash dividends and a buy-back scheme will be the way to go forward spending its billions in cash coffers.

MORNING REPORT (7am AEDT - Due to the change in daylight saving hours in the US - Wall street now closes at 7am AEDT)The Midwest manufacturing index rose from 89.0 to 90.1 In January. The National Association of Home Builders sentiment index was unchanged at 28 in March - the highest level since June 2007.

Stocks rose Monday, testing fresh multiyear highs, after a steady reading from home builders and news of Apple's plan to return cash to shareholders. Blue chips started the day in the red but rebounded after noon. The Dow Jones Industrial Average added 26 points, or 0.2%, to 13258.62.

Bell FX Currency Outlook: The AUD is unchanged this morning, currently trading at USD1.0605, due to another quiet offshore trading session

A robbery suspect in Sydney died after police confronted him with a Taser when he reportedly resisted arrest, prompting the NSW Council for Civil Liberties to renew its calls for a Taser use review.

With Pakistan having awarded some 47 exploration licences to various oil and gas exploration companies from 2007 up to last year 2011, a total of 38 new oil and gas reservoirs have been unearthed that helped boost the country's combined oil and gas production to 4,165 million cubic feet per day (MMcfd) from the previous 3,973 MMcfd.

MARKET CLOSE (4.30pm AEDT)The Australian sharemarket managed to rise slightly today following a 1.5 pct rise in local shares last week. The All Ordinaries Index (XAO) edged higher by 0.4 pct or 16.5 pts to 4381.2. Almost all sectors ended in the black, with some weakness from the consumer staples and telcos holding the market back.

The Australian economy lags behind its peers among the developed nations in readiness for less carbon emissions, according to the new global climate leadership review released Monday by the Climate Institute.

Indian gold jewelers led by members of the All India Gems and Jewellery Trade Federation (AIGFTF) staged a protest action over the weekend to complain the 2 per cent increase on basic customs duty onstandard gold bars, gold coins and platinum that is proposed by the Indian government.

WikiLeaks has announced over the weekend that its founder, Australian national Julian Assange, will vie for a Senate seat next year amidst his ongoing legal troubles.

The mining tax will keep its present form as Prime Minister Julia Gillard insisted on Monday to "bring the legislation to Parliament exactly as we outlined," even as her deputy, Federal Treasurer Wayne Swan, earlier maintained that the new tax will spur more mining activities and deliver on its pledged benefits.

The federal government's illegal war on drugs is big business for lobbyists who profit on making sure you never have access to marijuana, whether for recreational or medicinal purposes.

A firm and steady opening has set in the Australian stock market today and analysts are closely watching if it would break the barrier resistance of 4320, an indicator that a change in sentiment towards the positive amidst concerns of the economy's correlation to China's economic slowdown may take place.

Bell FX Currency Outlook: The Australian dollar has opened this morning just over 1.0600 after equity markets had a strong run last week and successfully pushed the AUD higher once more.

U.S. stocks closed mostly flat Friday, punctuating the broader market's biggest weekly gain of the year in muted fashion after a soft reading on consumer sentiment. The Dow Jones Industrial Average fell 20.14 points, or 0.15%, to 13232.62. Blue chips snapped a seven-session streak of gains, the Dow's longest winning run in 13 months.

Despite a late attempt at a comeback this afternoon, the Australian sharemarket ended in the red for the third time this week. The All Ordinaries Index (XAO) eased by 0.1 pct or 2.2 pts to 4364.7. The miners were a drag on trade despite slightly stronger commodity prices overnight

What's the moral justification behind your appointment? That's the question that JJ Domingo, a political blogger from Manila, asked the Renato C. Corona, the present Chief Justice of the Supreme Court of the Philippines. Corona is facing an impeachment trial that will reach its conclusion this month.

Amid posting a favourable fourth quarter 2011 net profit that soared more than triple from a year ago, Aurizon Mines Ltd. said it is very much amenable to merger talks with other companies.

Government tax measures have been configured to benefit both the public and business communities, especially the small players, according to Federal Treasurer Wayne Swan.

A day after announcing itself up for sale, shares of Montreal-based gold miner La Mancha Resources Inc. jumped 19 per cent on Thursday, the most in 17 months.

Indonesia has expressed full support for the growing regional cooperation between Australia and the United States, with key ministers of the populous Asian country assuring Canberra that its security pact with America poses no serious problem among emerging power-players in the region.

All Ordinaries Index (XAO) closed 9 points lower yesterday, but after another strong session in the U.S and with European markets hitting a fresh 8-month high, our market opened higher this morning. But it have already fallen into the red and by lunchtime The All Ordinaries Index (XAO) had lost ground and is currently off 0.23 pct or 10 points to 4356.7. Volumes are very light and are expected to stay that way throughout the day ahead of a raft of key economic data out in the U.S. tonight and ne...