The local market took Wall Street's negative lead but managed to come off lows as the session progressed. Miners and banks drove the broad based decline and the Aussie dollar hit a one year low.
ABB Grain has received accreditation from Wheat Export Australia to export bulk wheat overseas. A further five companies including GrainCorp also received approval this week.
United Group confirmed its infrastructure business won a join venture contract to help increase capacity on Queensland’s rail network. The company said the JV would last 5 yrs.
Linc Energy has with Xinwen Mining Group of China for the sale of its Emerald Teresa coal exploration permits for $1.5b. Both companies are now undertaking a 30-day due diligence.
Xstrata Queensland said it would buy a 17.83% stake in Indophil Resources from Lion Selection. Xstrata Queensland said it would purchase the shares at $1.17 each for a total of $82 million.
Rio Tinto said it had made progress on its three-phased strategy to increase the Iron Ore Company of Canada’s annual concentrate production by 50% to 26 million tonnes by 2011.
With FY09 NPAT guidance absent we see earnings uncertainty in the face of an ongoing credit crisis and the potential for a weaker A$.
Our analysis indicates that the Indian Wedding and Festival Season has had a noticeable positive effect on the gold price since 2002, with on average the strongest buying month being September.
The newswires are running hot with talk of global US dollar intervention planned back in March, but it's hardly news.
There is no such thing as a Commodities Super Cycle.
Lucknow Gold Limited is looking to raise $7.5 million by issuing 37.5 million shares at 20c per share. The company said the funds would go towards its gold exploration programs as well as other opportunities that might arise.
Fears are swirling through Asia that the unrest in Thailand and Malaysia, the economic and political woes of Japan and the weakness in South Korea might be a precursor to more serious problems.
Banks are being pressured to pass on any rate cuts, but tight global credit is making that difficult.
The comfort of a bull market is an illusion of sentiment that distracts us from the realities of trading. Now Pacific Brands has dished out the punishment for over exuberant speculation and or failure to have or heed a stop loss.
It's a 'risky business!' I'm talking about 'risk' and the management of that risk within your portfolio.
Sundance Resouce’s share price appears a victim of global equity markets and associated portfolio de-risking. This is in stark contrast to the fundamentals of the iron ore sector where contract prices have risen to record levels.
In periods of increased volatility the market delivers many opportunities for short-term traders. Traders can take advantage of this bullish sentiment by using short dated highly geared instalments.
Industry funds outperformed retail master trusts last financial year primarily because they did a better job with respect to adopting the right asset allocations for the circumstances.
The Institute of Chartered Accountants in Australia (ICAA) has said that the some self-managed super fund investment strategies are inappropriate, following an industry forum on self-managed super funds.