Dow Slips, Gold Jumps As US Shutdown Continues
Day two of the US government shutdown and markets remain confused, cautious, but with a touch of real concern starting to appear at the edges.
Read MoreDay two of the US government shutdown and markets remain confused, cautious, but with a touch of real concern starting to appear at the edges.
Read MoreWarrnambool Cheese and Butter Factory’s (WCB) defence against the $320 million hostile bid from Bega Cheese (BGA) continues to take the predictable route.
Read MoreWhat is it about the struggling Elders (ELD) group and controversy?
Read MoreNo rate cut from the Reserve Bank and the closing down of the US government should have made for a tough day everywhere yesterday, but most markets ended up higher, instead of lower.
Read MoreThe unlikely combination of the lack of a rate cut and the US government shut down sent the Aussie dollar flying over 94 US cents overnight.
Read MoreOver nearly four decades of export, markets in more than 30 countries have come to recognise the Australian drop as a premium taste, with the unique Australian floral notes giving it a flavour profile on the palate unlike anything else in the world.
Read MoreAnother dodgy Australian takeover situation story from London on a Sunday that was not backed up by the facts.
Read MoreToy and confectionery business Funtastic (FUN) has seemingly gone against the trend in retailing by lifting its profit by 34% for the year to July 31.
Read MoreMarkets in Asia, Australia, Europe and the US took a hammering yesterday and overnight as the US budget crisis headed towards forcing the US government to shut down much of its operations from later today, our time.
Read MoreIt is a bit hard to pick what’s not going to be an important issue for markets this week – from Australia, to China, Europe and the US, there are a series of issues, data releases or scheduled news events that will give sentiment and confidence a big shaking.
Read MoreThe US budget and debt controversies are slowly moving to the forefront of issues worrying investors offshore, but in Australia it is yet to register, except in the value of the Aussie dollar.
Read MoreNow for the silliness in Washington where it’s generally agreed that some lunatics have escaped and are in control of the asylum bus and driving straight for a cliff.
Read MorePredictably there were a few jokes in reports and the market about a deal with a "midas touch" after protective clothing and condom maker Ansell (ANN) revealed yesterday it was buying a key supplier, South Korean glove maker and textile group Midas.
Read MoreInvestors seem more resigned than anxious about the increasing chance that Gindalbie Metals (GBG) will lose some of its 50% of the troubled and delayed Karara iron ore project in WA.
Read MoreAs to be expected, the earlier ‘don’t sell’ from the board of Warrnambool Cheese and Butter Factory (WCB) has turned into rejection of Bega Cheese’s (BGA) $319 million offer on the ground that it is inadequate.
Read MoreThe success of self-managed super has been stunning. In 2003, according to super research group Rainmaker, there were just over 260,000 SMSFs, holding about $108 billion in assets, or one-fifth of the superannuation pool.
Read MoreYes, the Reserve Bank is a tad concerned about the way house prices are rising and yes, a senior bank executive (in fact the Assistant Governor in charge of the Financial system) indicated last week that the bank did not see property bubbles forming.
Read MoreGiven the 1% to 2% slide in topline and same store sales in its 2012-13 financial year, a weaker result from David Jones (DJS) was always expected by the market.
Read MoreMelbourne-based agricultural chemicals and seeds supplier Nufarm (NUF) says its 2012-13 performance was hit by challenging seasonal conditions and a difficult market in Australia.
Read MoreFonterra Co-Operative, NZ’s biggest company and the world’s biggest dairy exporter, has warned shareholders not to expect a repeat of the strong end of the latest trading year.
Read MoreTrans Tasman clothing retailer Kathmandu (KMD) has provided yet another lesson to the moaners and groaners in the Australian retailing sector (such as Myer’s Bernie Brookes and Premier’s Solomon Lew) about superior sales and profit performance by producing one of the best results for the 2012-13 financial year.
Read MoreCanadian-based gold miner Alacer Gold (AQG) has sold its two Australian mines and will focus on its mine in Turkey, as it said it would do back in June.
Read MoreReal estate investment trust Ingenia Communities (INA) is a specialist retirement living REIT that is well-placed to benefit from Australia’s ageing population.
Read MoreLast Friday it was all love and kisses at Treasury Wine Estates (TWE), with the company releasing its notice of meeting for the AGM to be held on October 23 in Adelaide, which included a recommendation for the then CEO David Dearie to be issued performance rights as part of an incentive plan.
Read MoreWell, well, well, China has surprised on the upside with the better than forecast early estimate of activity in the country’s huge manufacturing sector.
Read MoreDon Mercer, the chairman of struggling gold miner Newcrest (NCM), has strongly defended the company’s performance in his chairman’s comments in the 2012-13 annual report released yesterday, and made it clear that senior executives face the prospect of receiving lower bonuses and other incentive payments this year.
Read MoreAfter last week’s events, we all are wanting a quiet few days, but unfortunately, that won’t be on the cards because today is the day when the early reports on the health of manufacturing in some of the world’s major economies, starting with China begin.
Read MoreRupert Murdoch’s News Corp (NWS) finally produced its 2012-13 results early Saturday morning our time with a quiet filing with the US Securities and Exchange Commission, which will be released to the ASX first thing this morning.
Read MoreNow it’s time for what you might call the ‘hangover effect’ after the brief party in the wake of the Fed’s surprise move last week not to start cutting its stimulatory spending.
Read MoreIn contrast to Oroton, the shares of struggling basket case, Billabong (BBG) jumped by around 8% at one stage yesterday on news that the company has accepted a refinancing proposal from hedge funds and found a new chief executive.
Read MoreYet another couple of conflicting reports from the retailing sector yesterday.
Read MoreSydney-based investment group Soul Pattinson (SOL) has raised its final dividend, even though it suffered a fall in earnings in the year to July.
Read MoreThe US Federal Reserve sprang a major surprise on markets by not starting to trim its $US85 billion a month of stimulatory spending.
Read MoreThe horse trading over the real value of the Bega Cheese (BGA) offer for Warrnambool Cheese and Butter (WCB) has started with the latter company attempting to cast doubt on the value of the Bega shares to be offered in the deal.
Read MoreRepresentatives of the country’s two main bank regulators, APRA and the Reserve Bank went out of their way yesterday to downplay talk of a house price bubble in Australia, but confirmed there was official concern at the way house prices had risen sharply.
Read MoreNew Hope (NHC), the coal mining associate of the Brickworks (BKW) – Soul Pattinson (SOL) group of companies, has warned of another year ahead of weak sales, prices and earnings after posting a sharply lower profit for the year to July.
Read MoreShares in TPG Telecom (TPM), 27.7% owned by Washington Soul Pattinson, jumped nearly 12% in yesterday’s lacklustre market after it reported a sharp rise in profit for 2012-13 and faster than expected subscriber growth.
Read MoreRetail investors own around half of the big four banks – Westpac, ANZ, CBA and NAB – for that reason alone, they had better start noticing the start of the crackdown on home lending from the country’s two main bank regulators – the Reserve Bank and APRA.
Read MoreWe live in a world saturated with ‘smart devices,’ in which we all carry in our jeans pockets and handbags more computing power than the Apollo Space Program had.
Read MoreThe local market hit new five year highs yesterday and the Aussie dollar scampered back over the 93 USc level and almost reached 94c after senior US economist and policymaker Larry Summers ruled himself out of the race to replace Ben Bernnake as head of the US Federal Reserve from early 2014.
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