BNB Slumps Again
And finally, the market yesterday told us that it thinks Babcock and Brown is in near terminal decline after the shares fell 24% to a new record low of $3.45.
Read MoreProfit Count Mixed
2007-08 Australian profit reports will be the big focus for investors with around 65 major companies due to report this week, including BHP Billiton, BlueScope, Boral, Oil Search, Coca Cola Amatil, Qantas, QBE and Wesfarmers. 80 are due to report the following week and you can bet that the quality of those reports (and some of this week’s) will be terrible.
Read MoreIt’s Recession That’s Scaring Commodities & The AUD
After a longer than normal delay, commodity prices have entered a significant correction on the back of slumping global growth and a stronger $US.
Read MoreMining Boom Continues For Some
On Monday United Group showed the way, and yesterday two other groups dependent in part or in whole on the resources industry for their business growth confirmed that for some in the sector, times are sweet.
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