MORNING REPORT
(7am AEST)The ISM manufacturing index rose by from 52.4 to 53.4. Across the sub-indices production jumped to from 55.3 to 58.3 , the new orders balance dipped from 54.9 to 54.5 and the employment reading rose from 53.2 to 56.1, a 9-month high.US construction spending fell 1.1pct to an annual rate of $808.86 billion, a 7-month low. The result was well below forecasts which centred on a rise of 0.6pct. Spending in January was revised to show a much bigger 0.8pct fall instea...
Christine Gaylican
Apr 03, 2012
Bell FX Currency Outlook: The AUD is slightly higher this morning after some positive data out of the US and the UK boosted investor optimism.
Christine Gaylican
Apr 03, 2012
Stocks rose to multiyear highs in the first session of the new quarter after a solid reading on domestic manufacturing activity in March. The Dow Jones Industrial Average climbed 52.45 points, or 0.40%, to 13264.49, its highest close since December 2007.
Christine Gaylican
Apr 03, 2012
On Sunday, China released its official Purchasing Managers' Index (PMI) which, according to the China Federation of Logistics and Purchasing (CFLP) and National Bureau of Statistics, showed that manufacturing activity in the world's second-largest economy improved to 53.1 in March, up from 51.0 in February. It was also Beijing's highest in 12 months.
Esther Tanquintic-Misa
Apr 02, 2012
The Australian sharemarket started the day off almost 1 pct higher and then gave away its gains as the day progressed. The All Ordinaries Index (XAO) eased by 0.1 pct or 3.6 pts to 4416.4. The mining and energy sectors rose strongly while almost all other sectors lost ground today.
Vittorio Hernandez
Apr 02, 2012
Australia has turned to the United States for skilled workers led by electricians and plumbers that are now highly in demand by local industries.
Christine Gaylican
Apr 02, 2012
The already much-delayed $12 billion steel mill project of South Korean steel group POSCO in India hit yet again another snag, as a newly established government body placed the project on hold pending environmental review processes.
Esther Tanquintic-Misa
Apr 02, 2012
China is set to launch on April 8 a rare earths industry association in a bid to curb the rampant domestic illegal mining of the precious metal commodity as well as regulate its rare earths players.
Esther Tanquintic-Misa
Apr 02, 2012
Adelaide topped the list of Australian cities in terms of urban planning, the Council of Australian Governments (COAG) Reform Council said.
Vittorio Hernandez
Apr 02, 2012
MORNING REPORT
(7am AEDT)US consumer sentiment rose from 74.3 to a 13-month high of 76.2 in March - well above forecasts of a result near 74.7. US personal income rose 0.2pct in February with spending up 0.8pct - largest gain in seven months. The Chicago purchasing managers' index eased from 64.0 to 62.2 in March.
Christine Gaylican
Apr 02, 2012
Earth-hour was celebrated on the 31st of March. Millions of people turned off their lights across the globe.
Apr 02, 2012
Polls indicate a Coalition victory if elections were held now. The Nielsen poll said the Opposition got 57 per cent of votes compared to Labor's 43 per cent in a two-party vote.
Vittorio Hernandez
Apr 02, 2012
The Australian sharemarket ended slightly weaker today, however ended the month and the quarter in positive territory. Shares rose by around 0.8 pct in March however jumped by 7.7 pct this quarter (January to March 2012). In fact, we have had the best start to a new year since 2006.
Vittorio Hernandez
Mar 30, 2012
Appetite for gold, already sidetracked by a rising and improving dollar, will all the more get relegated to the background as investors turn to palladium and other industrial metals in a bid to diversify portfolio holdings.
Esther Tanquintic-Misa
Mar 30, 2012
Going ahead with the carbon tax July this year could leave the Australian economy in ruins, according to outgoing Future Fund chair David Murray.
Erik Pineda
Mar 30, 2012
Over the last few day global markets have been hit by more concern over the global slowdown and European debt problems. Overnight the US markets finished mixed with the DOW Jones climbing higher in the last few minutes of trade but the NASDAQ still finishing in the red. Today is the last day of the quarter and the ASX 200 index looks set to close the quarter up over 7pct. By lunch the All Ordinaries Index (XAO) had risen by 16points or 0.38pct to 4,438 points.
Vittorio Hernandez
Mar 30, 2012
Swiss bank UBS AG on Thursday slashed by 18 per cent its earlier gold price forecast for 2012 to $1,680 an ounce from $2,050 an ounce spurred by positive observations of a slowly improving fiscal health in most major economies.
Esther Tanquintic-Misa
Mar 30, 2012
Australia will meet its promised budget surplus by reducing spending and cancelling tax measures, according to Opposition Leader Tony Abbott.
Erik Pineda
Mar 30, 2012
Australia's decision to exclude China's Huawei Technologies from its $36-billion national broadband roll out will stay, according to Prime Minister Julia Gillard amidst the appeals made by the Chinese.
Erik Pineda
Mar 30, 2012
Bell FX Currency Outlook: The Australian Dollar continues to be pressured this morning and is trading at new session lows against the US Dollar and major currencies.
Christine Gaylican
Mar 30, 2012
The Dow Jones Industrial Average erased losses in late Thursday trade, with the benchmark index trading up 12.95 points, or 0.1%, at 13,139. Trading tends to be volatile at the end of the quarter, as fund managers adjust their trading books.
Christine Gaylican
Mar 30, 2012
Yesterday Australian stocks closed at their highest levels in almost five months but today investors are selling. Overall the Australian market is still performing a lot better than expected. Overnight end of quarter and end of month trading along with weak economic data out from the UK and US sent stocks lower. The All Ordinaries Index (XAO) is currently only down by 2pts to 4,433 points.
Vittorio Hernandez
Mar 29, 2012
China assailed Australia's decision this week of banning a major Chinese firm from participating into the $36-billion roll out of the national broadband network (NBN), labelling the move as discriminatory and unfair trade practices.
Erik Pineda
Mar 29, 2012
Since 2008, the global financial crisis has wiped out more than $70,000 from the value of assets by the average Australian household. In 2011 alone, about $40,000 were lost from the average household assets value, a report by the Reserve Bank of Australia released on Thursday said.
Vittorio Hernandez
Mar 29, 2012
In US trade, markets retreated on the back of disappointing durable goods orders and a plunge in oil prices. Risk appetite was generally subdued with commodities and risk currencies losing ground. Stocks were choppy through most of the European session, until the durable-goods orders data triggered the sharp move lower.
Vittorio Hernandez
Mar 29, 2012
Treasurer Wayne Swan warned on Thursday of spending cuts and programme cancellations for the Australian government to achieve in May the budget surplus it promised. Money would also be redirected where it is needed most, he told the Australian Business Economists breakfast in Sydney.
Vittorio Hernandez
Mar 29, 2012
At least 16 oil offshore blocks in East African Tanzania will be put up for oil exploration licensing beginning September, according to a geologist at state-run Tanzania Petroleum Development Corporation.
Esther Tanquintic-Misa
Mar 28, 2012
While asylum seekers globally are on the rise, in Australia their numbers went down by 9 per cent in 2011, a report by the UN Refugee Agency released on Wednesday said.
Vittorio Hernandez
Mar 28, 2012
Mexico City is close to approving a bill that would ban bullfights.
Jamelle Agbuis
Mar 28, 2012
Adelaide, South Australia based oil and gas producer Beach Energy will be undertaking a convertible bond rights offer to generate a total of A$345 million or $364 million to fund its various project initiatives in the next two to three years, including a fully underwritten 1 for 8 entitlement offer to raise A$195 million and an offer of senior unsecured convertible notes to raise about A$150 million.
Esther Tanquintic-Misa
Mar 28, 2012
