More Downgrades For Gold
More gloomy news for gold bugs with another bout of selling overnight which drove gold prices down by more than 2%, forcing it under $US1,200 an ounce in US futures trading for the first time in 34 months.
Read MoreMore gloomy news for gold bugs with another bout of selling overnight which drove gold prices down by more than 2%, forcing it under $US1,200 an ounce in US futures trading for the first time in 34 months.
Read MoreHere’s a surprise profit upgrade – from retailing, and from the furniture side of the sector at that. Nick Scali (NCK), the Sydney based furniture retailer says that despite a slowdown in the current quarter, it will be reporting higher sales and earnings (after a strong first half) in August.
Read MoreToll Holdings (TOL) has joined the downgrade club (unlike Asciano, its former ports business).
Read MoreElders (ELD) is continuing its rebirth as a rural services business by appointing as chairman a man with long experience in the sector.
Read MoreThe slowing resources investment boom has seen another project delayed – with the $1.25 billion Eagle Downs underground export coking coal mine’s start up date put back by at least six months as the developers Aquila Resources (AQA) and Brazilian mining giant Vale slow the pace of work.
Read MoreMore body blows overnight for gold bugs and shareholders in gold miners here and around the world – there was another sharp fall in the world price. Now forecasts are being slashed for the rest of this year and 2014 with the metal is about to experience its worst quarter since 1971 according to data from Bloomberg and other sources, and there could be more to come in the next quarter according to forecasts from a number of leading investment banks.
Read MorePort operator Asciano (AIO) has survived what amounts to an ever so small downgrading of expectations for its businesses for 2014.
Read MoreIt’s no wonder that Newcrest Mining (NCM) is worried that corporate regulators, led by ASIC, are going to find something amiss with its continuous disclosure regime after the kerfuffle over whether the company did signal to analysts and some others that there was going to be a downgrade and asset impairments – news that wasn’t freely available to the market ahead of its release nearly three weeks ago.
Read MoreYes, there’s money in some areas of the fast food sector, but not all, if the annual results from Collins Foods Ltd are any guide.
Read MoreThis is hardly a surprise – but Goodman Fielder (GFF) says it will earn less this year. And in its own now familiar way, the company chose to highlight a private bread making contract (the good news?) ahead of the downgrade news which was the real fibre in yesterday’s statement to the ASX.
Read MoreAMP has joined the downgrade club, revealing that interim earnings for the six months to June 30 could fall by 13% or more, thanks to falling interest rates and the slide in stock markets since April.
Read MoreOnline booking business Wotif (WTF) joined the growing downgrade club an hour before the market closed yesterday and escaped fairly lightly, despite revealing a slide of around 12% in estimated 2012-13 profit.
Read MoreAmid yesterday’s big market sell-off, Supermarket group and supplier, Metcash (MTS) stood out with a sharp, 6.7% jump in earnings for the year to April 30.
Read MoreAccording to the share price index future contract, the Australian stock market faces a rough morning when trading restarts after the weekend break.
Read MoreThankfully, we should have a much quieter week after the tumult and selling triggered by the results of last week’s meeting of the US Federal Reserve.
Read MoreA rare profit upgrade emerged from the late filings at the ASX on Friday night.
Read MoreDon’t worry about the slide in the dollar, or yesterday’s fall in the stockmarket – pay attention to what’s happening in China where the country’s central bank has again driven short term interest rates to new highs as it seemingly tries to bring banks and others into line.
Read MoreLike Australia, NZ experienced weak to sluggish economic growth in the first quarter of this year.
Read MoreA combination of a weak stock market, the worse than expected early figures from the monthly survey of Chinese manufacturing and a surprising downgrade of its iron ore production target for 2012-13 saw shares in Fortescue Metals Group sold off sharply yesterday.
Read MoreShares in Sydney-based McPherson’s Limited (MCP) plunged more than 20% yesterday as investors reacted negatively (as they would) to the market update and profit downgrade issued well after trading ended on Tuesday afternoon.
Read MoreTroubled former billionaire, Nathan Tinkler has lost his $600 million stake in Whitehaven Coal (WHC) to US investment firm Farallon Funds and other creditors.
Read MoreA more confident US Federal Reserve moved markets this morning when it produced more upbeat forecasts for the US economy after its two day meeting in Washington.
Read MoreThe future of Elders continues to remain up in the air.
Read MoreNow that wasn’t too hard, was it?
Read MoreAgricultural products and water group Tandou Ltd (TAN) yesterday forecast a modest rise in profit for the year to June of between $200,000 and $1 million, thanks to some well-timed harvesting.
Read MoreMelbourne-based Labour hire company Skilled Group (SKE) has returned to the acquisition trail after a long absence and nailed a $75 million purchase in the oil and gas sector.
Read MoreLend Lease (LLC) shares fell more than 7% yesterday after it became the latest company to join the ‘bad news’ club with an indifferent earnings update.
Read MoreA few hours of peace on Friday in Asian trading was again replaced by a finishing panic on Wall Street as markets faded back into the red in a funk over the Fed’s quantitative easing.
Read MoreHopefully this week will see the future of the embattled rural services group, Elders, clarified once and for all.
Read MoreThe words of the US Federal Reserve and its chairman, Ben Bernanke dominate the week ahead for markets here and offshore.
Read MoreGet used to it – the rising volatility we have seen in the past three weeks will continue, especially for much of next week – the US is recovering and that, plus the stuttering attempts to reflate the moribund Japanese economy, are going to rattle confidence levels for investors around the world.
Read MoreHere’s a heads up for the new financial year.
Read MoreBrisbane-based financial services group, Suncorp (SUN), is attempting to clean up its balance sheet and get rid it of its ‘non-core’ or bad bank loans – at a cost of close to half a billion dollars in losses to be reported in the 2012-13 full year results in August.
Read MoreThe great Rio Tinto crash diet continues with reports the company is looking to sell down part of its collection of coal mining assets in NSW to another big miner – Glencore, owners of Xstrata.
Read MoreIf the stock market act is any guide (and it was last week), then the selling wave that has overwhelmed Newcrest Mining seems to be ending.
Read MoreNews Corporation is on its way to separating itself into two companies from June 28, with the one centred on Australia to be left behind as the rest of the group grows more rapidly in the growth markets of media content and production.
Read MoreAnother rough day for the Australian dollar with new 32 month lows set in Asian trading yesterday and in European and US trading overnight.
Read MoreNot surprisingly, Perth-based mining contractor NRW Holdings (NWH) has joined the ever lengthening queue of companies from the sector reporting that its revenue and earnings have taken a hit or two from the slowdown in mining investment.
Read MoreASX Ltd plans to raise up to $550 million in a two for 19 rights issue at $30 a share to in part fund new capital needed for the exchange’s clearing house.
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