Data Flow Shows Economy Gathering Strength
Has the economy turned upwards after spending most of the past year meandering along at below trend, meaning interest rate cuts are at an end?
Read MoreHas the economy turned upwards after spending most of the past year meandering along at below trend, meaning interest rate cuts are at an end?
Read MoreUnsung vehicle parts supplier Supply Network Limited (SNL) has rewarded shareholders handsomely in recent years, rising from 30 cents five years ago to a record high of $2 earlier this month.
Read MoreWholesaler/retailer Metcash (MTS), number 3 behind Woolies and Coles, faces more change in the New Year after reporting a moderate quality interim result yesterday and a cut to dividend.
Read MoreThere was nothing from the flow of data here or offshore yesterday and last night to force a change of heart from the Reserve Bank’s last board meeting of 2013 which will leave the cash rate steady on 2.5%.
Read MoreAnother loss for GrainCorp (GNC) yesterday, with CEO Alison Watkins leaving to take up the vacant CEO’s role at Coca Cola Amatil (CCL), one of the plum jobs of Australian business.
Read MoreThe RBA goes into 2014 with a close eye on jobs, knowing very well that the economic outlook for Australia remains fragile. This statement was always going to sound cautious so it doesn’t come as a complete surprise – but the focus on the slowdown in the mining space cannot be understated. There is the prospect for one more cut in the first quarter of 2014.
Read MoreNovember ended up a curious month for markets – some rose, some eased, some went sideways – and one or two bombed – led by gold.
Read MoreThe world’s most exclusive club – countries with AAA credit ratings, of which Australia is a member – just got smaller with the news that the Netherlands has had its top notch standing cut by Standard & Poor’s.
Read MoreA big, big week for economies here and around the world, as well as for investors large and small. In fact it’s one of the biggest weeks of the year for the amount of information and number of key decisions to be made.
Read MoreGrainCorp’s (GNC) share price was trashed this morning – down by nearly 30% in pre trading, slashing the company’s value by around $900 million, based on the ADM takeover price of $13.20 a share.
Read MoreSuddenly, life is getting tougher for the Murdoch media empire with challenges emerging in the US and Europe which strike at the heart of his new media strategy of building the size and profitability of his new main company, 21st Century Fox in film, in video content, online and distribution.
Read MoreThe great cheese takeover soap opera continues with yet another bid increased – this time from Murray Goulburn, which was only moaning about the rival offer from Saputo of Canada, to the takeovers police on Wednesday.
Read MoreYesterday’s investment figures from the Australian Bureau of Statistics tells us that the mining services sector is facing further grief, on top of what they have experienced so far in the past year.
Read MoreForge Group (FGE) will join the likes of Elders (ELD) in being in the hands of a bank or banks as it battles to survive. That’s the bottom line after a dramatic day on the market yesterday for its shareholders.
Read MoreAnd another mining services group, Ausenco (AAX), revealed a big downgrade yesterday, with a trading loss of more than $20 million forecast for the year to December, which was a big turnaround from a forecast profit a few months ago.
Read MoreThere was further bad news for the embattled mining services sector last night with the news that Rio Tinto (RIO) has chopped its WA iron ore expansion output plans by nearly 10% and around $US3 billion in cost.
Read MoreMinus a lead from Wall St overnight the local market closed softer Friday with the S&P/ASX200 index off 14.3 points, or 0.27%, at 5,320.0, while the broader All Ords index was down 12.3 points, or 0.23%, to 5,314.3.
Read MoreGloomy news for shareholders in two mid-ranking stocks – Regional Express Holdings (REX) and Bank of Queensland (BOQ) – at AGMs yesterday.
Read MoreYou wouldn’t credit it, but Elders (ELD) has managed to produce another surprise – no, it’s not more losses, another disastrous investment or unexplained problem in the ever diminishing empire.
Read MoreJust as Elders (ELD) continues to produce more twists and turns than a TV soap opera, so does the continuing battle for the cows (and farmers), milk and cheeses of Warrnambool Butter and Cheese (WCB).
Read MoreMelbourne-based Programmed Maintenance Services (PRG) has joined the ranks of companies hit by the downturn in resource spending.
Read MoreGroundhog day with more records overnight on Wall St, the local market unable to hold onto the highs of the session, more economic data surprising to the upside and more developments in the Victorian cheese war.
Read MoreGaming machine maker Aristocrat Leisure (ALL) has lifted full year profit by almost 17% despite a slide in revenue caused by weak sales in Australia, Japan and several other markets.
Read MoreAnsell (ANN) has returned to the acquisition trail, this time with a $US600 million plus deal to buy a major glove and protective wear rival in the US. It is the second purchase by Ansell in the past two months.
Read MoreIt sounds like it was a case of ‘trust us, we are Woolworths, we know what we are doing’ on two counts from the retailer’s chairman at yesterday’s annual meeting.
Read MoreAfter a fairly meek lead out of Wall St the local market has closed softer today with the benchmark ASX200 index down 25.7 points, or 0.48%, at 5,324.9. The wider All Ords index was down 24.1 points, or 0.45%, at 5,332.9.
Read MoreWith the three-way takeover battle for Warrnambool Cheese Butter moving toward an end-game, investors are looking at other agribusiness stocks on the ASX.
Read MoreAnd, Commonwealth Property Office Fund (CPA) said yesterday that it had terminated a deal with Dexus Property Group (DXS) and a Canadian pension fund, after receiving a higher takeover offer from property investor The GPT Group.
Read MoreA small $10 million enticement to shareholders in Warrnambool Cheese and Butter (WCB) with the seemingly preferred bidder Saputo of Canada offering to pay accepting shareholders more if it gets to 50% of its target.
Read MoreBrisbane-based software group TechnologyOne (TNE) says earnings hit guidance with a 14% rise in the year to September 30 to a record $26.1 million.
Read MoreWill the six month Iran deal trigger a restructuring of the global oil industry, especially the oil rich US fracking sector by driving global prices down under $US80 a barrel?
Read MoreAfter the Dow closed above 16,000 for the third day straight the local market followed suit today closing slightly higher, helped by gains by the big four banks.
Read MoreThe run up to our third quarter GDP data announcement starts this week with updates on construction and private investment expected to confirm the growing downturn in resource investment – and perhaps a glimmer of hope about the strength of the housing upturn.
Read MoreCommodities were definitely weaker than shares last week, and the US dollar’s strength (and no real change in key US interest rates on Friday) left the week looking underwhelming, and the outlook for the coming week decidedly mixed.
Read MoreWall Street’s record finish on Friday was a bit of chimera – it gave the wrong impression of a lift in sentiment in markets after some indifferent days earlier in the week.
Read MoreOn average volume the S&P/ASX200 index closed 15.8 points, or 0.3%, higher at 5,346.1 today. The broader All Ordinaries index was up 16.9 points, or 0.32%, at 5,352.8.
Read MoreReserve Bank Governor, Glenn Stevens last night ruled out, for the time being, intervening to sell the dollar to help drive the currency’s value lower.
Read MoreBHP Billiton (BHP) is still a strong believer in the China growth story (they have to be because they have so much at stake) judging by the message from this year’s shareholder meetings in London and Australia, and by comments from CEO Andrew Mackenzie who seems to be straight out of the optimist mould carved by his predecessor Marius Kloppers.
Read MoreAnother tough day on the local market yesterday – the fourth fall in a row and coming despite a growing queue of companies that want investor cash.
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