US Oil Rig Count Lowest Since September 2010
US oil futures ran higher on Friday night to notch up yet another weekly gain, thanks to a combination of another fall in US oil-rig counts and the solid monthly US jobs report for April.
Read MoreUS oil futures ran higher on Friday night to notch up yet another weekly gain, thanks to a combination of another fall in US oil-rig counts and the solid monthly US jobs report for April.
Read MoreA surprise rate cut from China’s central bank late last night – a move that shouldn’t be so surprising given the weakness to the early economic data from China for April.
Read MoreWatch for a solid day’s trading in local and other markets in Asia after a surprise rate cut from China last night.
Read MoreThe blizzard of leaks about Tuesday’s budget continued at the weekend – all the good news on child care policy and other voter friendly initiatives being released to soften up voters.
Read MoreThere is nothing for local investors in mainstream banks to read into the solid full year profit reported this morning by investment bank and global fund manager, Macquarie (MQG).
Read MoreIt’s a good thing that the National Australia Bank’s (NAB) shares remain suspended until next Tuesday as the bank beds down the bulk of its record $5.5 billion rights issue.
Read MoreThe sell-off in global bond and sharemarkets eased this morning in the US as investors positioned themselves ahead of the release of the vital April jobs report.
Read MoreRio Tinto (RIO) yesterday delivered what amounts to a two-fingered salute to critics of its iron ore expansion policies by telling Australian shareholders it will continue growing its iron ore exports.
Read MoreBad news from Metcash (MTS) as the shares tanked yesterday, and more pressure for Woolworths (WOW) as analysts scrambled to catch up to reality with a slew of downgrades after the weak third quarter sales report on Wednesday and unimpressive strategy discussion.
Read MoreThe National Australia Bank (NAB) shocked the market this morning revealing a massive $5.5 billion rights issue to build its capital levels, the proposed demerger and floating of its troubled UK banking operations, a higher cash profit, a higher dividend and a change of chairman.
Read MoreNo statement from M2Group (MTU) last night on the news that iiNet (IIN) had accepted a new higher $1.56 billion takeover offer from TPG Telecom (TPM) as being superior to that from M2.
Read MoreThe global sell-off in government bonds accelerated overnight, sending US sharemarkets lower, commodities higher as the US dollar fell. As a result long-term borrowing costs rose to their highest level this year.
Read MoreTransfield Services (TSE) shareholders got a pleasant surprise yesterday – the hint of a dividend after a two year drought and the shares resisted the gravity of the selling wave on the ASX (a slide of 2.3%) and ended up 1.6% at $1.58.
Read MoreFairfax Media (FXJ) CEO Greg Hywood has told a Macquarie Investment Conference that the company had seen its first (admittedly small) rise in revenue for some time in the four months to April.
Read MoreWoolworths (WOW) lost 5% in value yesterday as investors well and truly mauled the stock in reaction to a weak sales update, weak strategy update and a feeling the retailer is slipping further behind rival Coles/Wesfarmers and other chains such as Bunnings and Kmart.
Read MoreThe third quarter trading update from the Commonwealth Bank (CBA) has confirmed the Australian banking sector has seen a sharp slowing in revenue and earnings growth.
Read MoreNo more rate cuts in Australia and if there is one, we will know its because the economy is heading for the rocks.
Read MoreA major selloff in equities and especially bonds seems to be underway around the world.
Read MoreSo will the ANZ Bank’s (ANZ) interim profit see bank stocks reverse their sell off of yesterday after Westpac (WBC) disappointed with a weak interim financial report?
Read MoreSo will the Reserve Bank cut rates at its board meeting today? The chances are that it will (25 of 27 economists in a Bloomberg survey say there will be a cut).
Read MoreShares in bulk haulage group McAleese (MCS) halved yesterday after they were relisted in the wake of the deal that will see Atlas Iron (AGO) keep some of its struggling WA iron ore mines open and exporting.
Read MoreLast Thursday’s surprise move by engineering services group WorleyParsons (WOR) to ask for a trading halt for its shares while it worked out the impact of unidentified “non-recurring charges” was explained yesterday with a whacking big earnings downgrade and a slump in the share price.
Read MoreWestpac (WBC) has reported a flat profit in the six months to the end of March, but lifted interim payout to keep shareholders happy.
Read MoreOil prices staged another gain last week, despite weakening on Friday on reports that Iraq’s crude exports rose to a 30-year high last month, and production from the OPEC countries hit its highest level in two and a half years.
Read MoreThe local sharemarket will be looking for an early gain this morning after Wall Street ended a soft week with a nice recovery on Friday night, our time, and as a result the futures market has the ASX 200 looking at a 30-plus point jump.
Read MoreWhere to turn for guidance when there are going to be so many major factors impacting markets and investors this week?
Read MoreShares in WorleyParsons (WOR) are in a trading halt at least until next Monday while the company prepares details of a major write down from “non-recurring charges” which will impact its 2015 financial results.
Read MoreSirius Resources (SIR) shares dipped in yesterday’s sell-off, despite confirming it remains on track to open its new low cost nickel mine in Western Australia late in 2016.
Read MoreTPG Telecom (TPM) is maintaining pressure on three major rivals across the country in a takeover and a stockmarket raid.
Read MoreMarkets around the world limped to the end of the month, trimming gains or pushing indexes into the red.
Read MoreTen Network’s (TEN) desperate plea for fresh money yesterday contrasts unfavourably with the ease with which Seven West Media (SWM) raised $289 million to help get Kerry Stokes out of a hole over the embarrassingly over-priced 2,500 convertible preference shares issued to complete the financing of the $4.1 billion of the merger of Seven and West Australian Newspapers back in 2011.
Read MoreA solid March quarter sales update from Wesfarmers’ (WES) retailing business – except for the Target department store chain which continues to lose ground.
Read MoreKerry Stokes’ Seven West Media (SWM) plans to raise between $150 million and $612 million in a rights issue aimed at getting rid of 2,500 convertible preference shares that if not extinguished in a year’s time, would prevent the company from paying dividends.
Read MoreInsurance Australia Group (IAG) has warned claims relating to last week’s storms that struck eastern Australia will sharply lift its costs for the financial year and weigh on its insurance margin for the year to June.
Read MoreMarkets closed weaker on Wall Street this morning and the Aussie dollar was higher after the US Federal Reserve admitted the American economy had lost juice, and data revealed it had, with March quarter growth coming in at a hard to believe annual rate of just 0.2%.
Read MoreAs expected the Reserve Bank of New Zealand left its key interest rate on hold this morning at 3.50%, but the bank is now more likely to cut rates than raise them.
Read MoreAmerican data storage group, Iron Mountain has finally persisted in its five month pursuit of Recall Holdings (REC), the spin-off from Brambles, in the shape of a $2.5 billion scrip or cash bid.
Read MoreTomorrow morning, the Reserve Bank of NZ will abandoned its hairy-chested monetary policy stance and make it clear that if need be it will cut rates to help protect the economy against weak inflation.
Read MoreM2Group (MTU) has moved quickly to play down its claim in its proposed bid on Monday for iiNet (IIN) that there would be an extra $1.37 a share of ‘synergies’ if its bid was successful.
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