DIARY: China, Australian Jobs, US Retail Sales, Euro Rates
The fall out from the US May jobs report, Australian jobs, US retail sales and Chinese economic data for May will be the focus in markets this week.
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All ShareCafe Content
Banks Face Higher Capital Rules
Banks in Australia and other countries will not have to worry about the push from the US and Europe for a global levy or tax, but they will have to hold more capital and liquidity to withstand a future credit crunch.
Read MoreNAB Buys US Bank, Quits UK Race, Still Hunts AXA
The National Australia Bank has picked up the deposits and assets of a small regional US bank that failed on Friday night, while at the same time it is maintaining its quest for control of Axa Asia Pacific in Australia, but has abandoned its bid to buy branches being sold by the Royal Bank of Scotland in the UK.
Read MoreTrade Back In The Black As Exports Surge
Now we know what all this talk about our improving terms of trade means.
Read MoreRecord Car Sales In May
Last month the spin from some economists to explain the continuing strength of car sales was that April’s sales figures had been boosted by vehicles still being delivered to business buyers from the sales boom late in 2009 which was driven by the now ended tax breaks.
Read MoreHealth Sector Problems Continue
The shake-out in the healthcare sector continues to rattle listed operators.
Read MoreCorporates: Boom, Arrow, AGL, QBE
Shares in Melbourne-based crane operator Boom Logistics ended up more than 36% yesterday after the company became the latest small or mid cap industrial to receive an approach from a private equity group.
Read MoreWhere You Put Your Money Is Back In Fashion
The perceived importance of asset allocation in driving investor returns faded from the 1990s as a result of high overall returns from most asset classes and relatively high correlations between bonds and shares.
Read MoreCorporates: Novogen, CBH, Mirvac
Shares in biotechnology company, Novogen, more than halved yesterday after the company unveiled disappointing phase II trial results for the ovarian cancer trial of its drug, phenoxodiol. The shares closed down 53.1% at 18.5c, a loss of 21c on the day.
Read MoreNo Change As Japanese PM Goes
The Japanese economy won’t be hurt or hindered by the decision of Prime Minister Yukio Hatoyama to step down.
Read MoreBP Weakened By Leak
The stockmarket cost to BP’s Gulf of Mexico oil leak has topped the $US100 billion mark for the companies directly involved, and other companies in the sector seeing tens of billions of dollars in market losses as well.
Read MoreIAG’s UK Loss Shock
There are some nasty profit downgrades emerging that call into question valuations on the Australian stockmarket and the efforts of various analysts who follow these companies.
Read MoreGrowth Down As Rates Bite
As an historical record and explanation, the March quarter national accounts help us understand what the Australian economy was doing in the first three months of the year.
Read MoreRates Go On Hold
Don’t look for the Reserve Bank to lift interests rates any time soon; Europe’s problems are dominating its thinking now, perhaps as much as the health of the Australian economy.
Read MoreBuilding Approvals Slump Outweighs Retail Sales Rise
Perhaps some further stimulus might be needed for the home building sector later in the year.
Read MoreDowner’s Shock Losses Cause Share Slump
Downer EDI, the engineering group, joined an exclusive club yesterday when it sprung a surprise on the market by revealing write-downs and losses of more than $250 million.
Read MoreMetcash Earnings Up, Outlook Subdued
While the grocery and liquor wholesaler, Metcash, reported a 12.4% rise in its 2010 net profit, it found the going hard in the closing months of the year to April 30, and expects more of the same for the rest of this year.
Read MoreChina Slowing?
More signs of the pace of growth in the Chinese economy slowing as the government moves to introduce a tax on property.
Read MoreThe Aussie Economy: No Pressure For Rate Rise- Markets
No evidence from yesterday’s economic data flow for the Reserve Bank board to do anything but leave interest rates steady at its June meeting today.
Read MoreASIA: India Growing Strongly, Japanese, Korean IP Up
India has joined China in the front ranks of the world’s fastest growing economies.
Read MoreHealthcare Action Continuing
More action in healthcare yesterday with Sigma granting its South African suitor, Aspen, due diligence rights and Healthscope revealing that it’s now the most popular girl at the dance, with two more takeover offers.
Read MoreOrica’s Greenlight For Dulux Spin-Off
All being well, the Orica spin-off, DuluxGroup, should start trading as a separate listed company around June 12.
Read MoreWattyl Boosts Guidance
A possible takeover last week, a rare profit upgrade this week.
Read MoreDIARY: A Big Week For The Aussie Economy
A big, big week for the economy in Australia.
Read MoreVirgin Blue’s Downgrade Shocks
This week’s first quarter growth figures will tell how the economy went in the March quarter, but we already have some indications that for some parts of business it was tough.
Read MoreAsia: Japan Still Hit By Deflation, Jobless
A day after reporting a solid rise in exports in April, we had more signs on Friday that the Japanese economy is not as healthy as some figures would suggest.
Read MoreMay Commodities: Gold Up, Oil Weak
Gold rose in late trading on Friday after the Fitch cut of Spain’s debt ratings forced gold investors to cover short positions before the holiday long weekend.
Read MoreMarkets Down On Spain Cut As Rotten May Ends
Trading for May in the US finished on Friday, with the Memorial Day long weekend closing American markets tonight, our time.
Read MoreCapex Figures Show The Boom Remains In Place
The Australian investment boom remains on track.
Read MoreHardie Loss-Ausenco Loss
James Hardie Industries has posted a full year 2010 net loss of $US84.9 million ($A102.9 million), after reporting an improvement in fourth quarter operating income.
Read MoreWestfield Sees Gains, As Does Perpetual
Shopping mall owner Westfield Group said first-quarter operations confirm positive signs for the markets in which it operates.
Read MoreCorporates 3: TAH, RGC, CSR
Tabcorp said yesterday that it has no knowledge of a mooted takeover bid for the company, but suggests rumours of a bid may be why its share price rose strongly on Tuesday.
Read MoreCorporates 1: PRG, NFK
Melbourne-based Programmed Maintenance Services has posted a 7% fall in annual net profit, as suggested in a trading update earlier this month.
Read MoreCorporates 2: AEC, REX
Perth-based Ammtec Ltd has rejected the takeover offer from Brisbane-based Campbell Brothers as too low, and has forecast strong earnings growth in the 2011 financial year.
Read MoreResources Tax Argument Continues
Australia’s major coal miners have found their supposed fears about the proposed resources profit tax no barrier to trying to increase their hold on the Queensland coal transport system.
Read MoreFosters To Split, Shareholders To Feel Pain
Talk about dud financial deals, especially takeovers.
Read MoreTax Doesn’t Put Off Two Miners
Gindalbie Metals yesterday became the second miner to point out that the proposed mining super profits tax will not impact expansion plans from proceeding.
Read MoreCampbell Earnings Fall As Forecast
Laboratory and chemicals group Campbell Brothers has posted a 29% drop in annual net profit, as forecast in a February guidance update.
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