Markets: Profits Carry Warning For Australian Investors
The Australian market got a big reality check last week from two directions.
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Markets: US, Europe, Asia All Down
US sharemarkets finished the week with barely a spark as economic data gave little reason to reverse the downturn in sentiment triggered by the Fed’s cutting of its economic outlook and several poor data announcements in the three days afterwards.
Read MoreCommodities: Oil Down Sharply
World oil prices fell for the fourth consecutive day on Friday, taking the drop to more than $US6 a barrel or more than 6%, as commodity investors reassessed their forecasts in the wake of the downgrading in US economic growth by the Fed and the continued cooling of the Chinese economy.
Read MoreDIARY: Election, Profits, US Retailers, Japanese Growth
After the sudden change in market sentiment last week after the US Federal Reserve’s meeting and downgrading of the US economy, we can look forward to more concerns on markets here and offshore this week.
Read MoreProfits: Telstra Savaged After Forecasting 2011 Earnings Slide
Cash rich, profit poor might describe the plight of Telstra after yesterday’s 2010 earnings report and outlook.
Read MoreProfits: Qantas Sees Blue Sky, Market Unmoved
Investors shrugged off the lack of a final dividend from Qantas after the airline yesterday reported another tough year with a 5.7% fall in full-year net profit to $116 million.
Read MoreProfits: Singtel-Optus, James Hardie
In contrast to the lower result from Telstra, Singapore Telecommunications said yesterday that Optus’ net profit was up steeply in the June quarter, thanks to the strongest growth in five years.
Read MoreProfits: Coca Cola Amatil, Myer, Transurban
Coca-Cola Amatil says it made a record net profit in the six months to June, thanks to price rises which helped offset slow consumption growth.
Read MoreThe Economy: What’s The Story: Inflation, Deflation Or…?
Australian unemployment rose to 5.3% yesterday in something of a surprise, but the Australian Bureau of Statistics has recast the labour force data in a major revamp, which has boosted the number of people in the labour force and the number of people working and unemployed.
Read MoreProfits: CBA Second Half Slump Sees Banks, Market Down
No wonder the Commonwealth Bank (CBA) says it is cautious about its prospects for the 2011 financial year, despite posting a 42% rise in cash profit to a record $6.10 billion for the year to June.
Read MoreChina: More Figures Confirm Slowdown
More evidence yesterday that China’s economy is cooling, despite a rise in consumer price inflation thanks to the surge in food prices from the bad floods of the past month.
Read MoreProfits: Stockland Up
Stockland, Australia’s biggest residential property trust, might have stormed back to full-year profit because of increased sales in its residential communities business, and no asset impairment losses, but its taking a very circumspect view of the next year.
Read MoreProfits: ComputerShare Hit By Market Slide
The slump in global markets in the June quarter, as well as in Australia, has cut the number of takeovers, global and local floats and dropped sharemarket trading, so Computershare, the major share registry business was bound to be hurt.
Read MoreProperty: NAB Survey Sees Commercial Slowing
Even as consumer confidence rises, business confidence and conditions remain weak.
Read MoreChina: Imports, House Prices, Cars Slowing
China’s economy remains solid, with exports up in July to a record, imports down, property prices falling, car sales strong, but easing and imports of iron ore ands copper both up on lows in June.
Read MoreThe Economy: NAB Spots An Emerging Concern In The Economy
Now there’s either no good news in the latest business confidence and conditions update from the National Australia Bank, some good news, or a big worry.
Read MoreUS Economy: Fed Sits, Again
The US Federal Reserve has taken a tiny step to boost the US economy, but it was also a big step in terms of policy switch.
Read MoreProfits: Cochlear, Bradken
Cochlear Ltd has booked a 19% lift in annual net profit, and says the dynamics of the hearing implant industry remain positive.
Read MoreProfits: NAB’s Flat Third Quarter
National Australia Bank says it had quarterly cash earnings of $1.1 billion in the June quarter, in line with the quarterly average of the first half, as personal and business lending grew modestly.
Read MoreDeals: ACCC Gives NAB-AXA Another Month
The long running takeover battle for AXA Asia Pacific Holdings will run for another month at least after the ACCC said it would consult the market on the latest attempt by the National Australia Bank to get the bid approved.
Read MoreProfits: Bendigo And Adelaide Bank Back On The Up
Ignore the reports that the Bendigo and Adelaide Bank has reported a 189.5% increase in full-year net profit.
Read MoreProfits: JB Hi-Fi Fights Its Way Through Tough Second Half
Even the high performing consumer electronics retailer and discounter JB HI Fi couldn’t avoid the second half slowdown in sales growth that hit retailing from March onwards.
Read MoreJobs: ANZ Job Ads Figures Up Again
We got updates from two completely different parts of the economy yesterday with very contrasting pictures revealed.
Read MoreHousing: Finance Figures Show Gloom
The June housing finance figures were just terrible.
Read MoreDIARY: Fed Meets, China Figures, Aust. Jobs, Earnings
A big, week for the US, China, Australia and in fact, for the global economic recovery.
Read MoreThe Economy: RBA Sees “Robust” Growth,
Swallow hard and believe this, the Reserve Bank sees a "robust’ (their description) growth rate for Australia in 2011 and 2012, but doesn’t see that causing too many problems.
Read MoreCommodities: Wheat Down Friday, Up Overall
Wheat was the focus last week for commodity markets and for equities where commodity groups’ shares rose sharply, but some big food groups saw their share prices come under pressure.
Read MoreMarkets: Shares Close Up
American shares recovered after earlier losses on Friday in the wake of the release of poor July jobs figures.
Read MoreEarnings: Buffett’s Option Hit
Warren Buffett turns 80 on the 30th of this month, and as an unwelcome advance present, his Berkshire Hathaway company has again underlined what a treacherous investment financial derivatives can be.
Read MoreProfits: Rio Back To Boom Time
Rio Tinto has well and truly recovered from its self-inflicted near death experience in 2008-09 that saw it almost fall into Chinese hands.
Read MoreDeals AXA-NAB Deal Questions, Gloucester Coal’s Easy $434 Million
The National Australia Bank bid for AXA Asia Pacific just won’t go way for a rest, it keeps coming back to remind us of its complexity.
Read MoreProfits: Tabcorp Finds Punters Tough
So much for the idea that gambling is a recession-proof industry; it hasn’t been in the US where many casinos have collapsed and yesterday industry giant Tabcorp revealed results that confirm it wasn’t in the year to June 30, with sluggish spenders and more intense competition cutting into the profit line.
Read MoreGold: Some Bearish Arguments
There are a growing number of gold bears emerging from hibernation.
Read MoreIron Ore: Watch The Emerging Glut
On the face of it, news of a possible halt to Indian iron ore exports is good news for the likes of BHP Billiton, Rio Tinto, Vale of Brazil and Fortescue Metals and a cast of hopefuls.
Read MoreThe Economy: Trade Surplus Soars
Export income surging, the service sector cooling, house prices still growing but more slowly, and car sales still positive but also showing signs of slowing.
Read MoreThe Economy: Services, Housing, Car Sales Mixed To Growing
After the news on the trade boom yesterday, other reports on the economy were not so upbeat.
Read MoreRetailing: Kathmandu Punished
Another private equity retailing ‘success’ story bites the dust within a few months of being sold into the market.
Read MoreProfits: AXA Earnings Down, Shares Sold Off
Wealth manager AXA Asia Pacific Holdings yesterday met its updated July guidance for its profit and investment returns for the June 30 half year, but the company’s outlook remains as clouded as ever by the ongoing attempt by the National Australia Bank to craft a deal that will pass muster with the competition regulator, the ACCC.
Read MoreProfits: WAN Shares Weaken On Higher Profit, Dividend
Kerry Stokes’ Seven Group Holdings will be happy; the partly-owned associate West Australian Newspapers is more than doubling final dividend after a 10% rise in profit for the 2010 financial year.
Read MoreThe Economy: Rates On Hold
No rate rise from the Reserve Bank yesterday, and no signals for what might happen in future months, as we got from September 2009 to May of this year.
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