Alumina stock prices outlook 2013 : SHARES in Australia's Alumina have leapt up after its joint venture partner Alcoa signalled that the aluminium industry had turned around, with a jump in profit. The US aluminium giant Alcoa reported a 59 per cent rise in first quarter earnings. Alumina's shares were up 6.25 cents, or 6.22 per cent, at $1.0675 by 1410 AEST today.
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Showing posts with label Australian Stock Market. Show all posts
Showing posts with label Australian Stock Market. Show all posts
Tuesday, April 9, 2013
Wednesday, September 26, 2012
australian stock market for september 27 2012
australian stock market for september 27 2012 : The Australian share market looks set to open lower once again today on the back of European and US markets sagging after significant disenchantment over austerity measures in both Greece and Spain.
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Wednesday, September 19, 2012
Australian stock market outlook september 20 2012
Australian stock market outlook september 20 2012 : THE Australian market looks set to open slightly lower despite modest gains on overseas markets. At 7.28am AEST the September share price index futures contract was down five points at 4410.
US stocks scored small gains overnight as investors weighed encouraging housing data and falling crude oil prices that stoked hopes for more growth in the tepid economy.
Shares of home builders got a boost on US markets from stronger than expected existing-home sales data and automakers pushed higher.
The Dow Jones Industrial Average was up 13.47 points (0.10 per cent) at 13,578.11 in closing trade.
The S&P 500-stock index rose 1.77 (0.12 per cent) to 1461.09, while the tech-heavy Nasdaq added 4.82 (0.15 per cent) at 3182.62.
European stocks have closed higher overnight, lifted by US housing data and Japan's extra economic stimulus following similar moves from the US Federal Reserve and the European Central Bank.
London's benchmark FTSE 100 index ended the day up 0.35 per cent at 5888.48 points, while in Frankfurt, the Dax 30 was 0.59 per cent higher at 7390.76 points, and in Paris, the CAC 40 gained 0.54 per cent to 3531.82 points.
The Australian market yesterday finished at its highest level since the start of May, driven up by news of a major Japanese economic stimulus program.
At the close of trade, the benchmark S&P/ASX200 index was up 23.7 points, or 0.54 per cent, at 4418.4, while the broader All Ordinaries index was up 22.6 points, or 0.51 per cent, at 4440.4.
In economic news today, The Reserve Bank of Australia releases its annual report.
In equities news, retailer Kathmandu, investment firm Washington H Soul Pattinson, and Brickworks release their full year results.
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US stocks scored small gains overnight as investors weighed encouraging housing data and falling crude oil prices that stoked hopes for more growth in the tepid economy.
Shares of home builders got a boost on US markets from stronger than expected existing-home sales data and automakers pushed higher.
The Dow Jones Industrial Average was up 13.47 points (0.10 per cent) at 13,578.11 in closing trade.
The S&P 500-stock index rose 1.77 (0.12 per cent) to 1461.09, while the tech-heavy Nasdaq added 4.82 (0.15 per cent) at 3182.62.
European stocks have closed higher overnight, lifted by US housing data and Japan's extra economic stimulus following similar moves from the US Federal Reserve and the European Central Bank.
London's benchmark FTSE 100 index ended the day up 0.35 per cent at 5888.48 points, while in Frankfurt, the Dax 30 was 0.59 per cent higher at 7390.76 points, and in Paris, the CAC 40 gained 0.54 per cent to 3531.82 points.
The Australian market yesterday finished at its highest level since the start of May, driven up by news of a major Japanese economic stimulus program.
At the close of trade, the benchmark S&P/ASX200 index was up 23.7 points, or 0.54 per cent, at 4418.4, while the broader All Ordinaries index was up 22.6 points, or 0.51 per cent, at 4440.4.
In economic news today, The Reserve Bank of Australia releases its annual report.
In equities news, retailer Kathmandu, investment firm Washington H Soul Pattinson, and Brickworks release their full year results.
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Sunday, September 2, 2012
Australia Stock Market outlook for sept 3-7 2012
Australia Stock Market outlook for sept 3-7 2012 : A raft of economic data from Australia and overseas could result in volatility in the domestic market this week. AMP Investments chief economist Shane Oliver says while the September share price index futures contract suggests the market will open 24 points higher on Monday, he believes the hike will be more in the range of 10 to 15 points.
US and most European shares closed higher on Friday after a speech by US Federal Reserve chairman Ben Bernanke left open the possibility for new stimulus measures.
In the US, the Dow Jones Industrial Average added 90.13 points (0.69 per cent), closing at 13,090.84.
In Europe, Frankfurt's DAX 30 surged 1.09 per cent to 6,970.79 points and Paris' CAC 40 gained one per cent to 3,413.07 points at the close on Friday.
London bucked the trend, with the FTSE-100 slipping 0.14 per cent to 5,711.48 points.
Mr Oliver said the Australian market would get some benefit from Bernanke's much-awaited endorsement of more US Federal Reserve stimulus.
But he said it would also be negatively impacted by Chinese PMI figures released on the weekend which showed manufacturing contracted to 49.2 in August.
The week ahead could be volatile for the Australian market with both international and domestic economic data releases and events possibly causing shifts in the domestic market.
"I expect will see some nervousness over the next week because there's so much data coming out both internationally and Australia and a lot of it could go either way," he said.
"It could be a fairly volatile ride."
Internationally the European Central Bank meets on Thursday and investors will be awaiting any indication that it will start buying bonds to stabilise Italian and Spanish bond yields.
Domestically, the Reserve Bank of Australia meets on Tuesday but is expected to keep interest rates on hold at 3.5 per cent.
The following day the Australian Bureau of Statistics will release the latest gross domestic product (GDP) figures, a measure of the size of the national economy.
AAP's survey of 15 economists revealed a median forecast for GDP to have grown by 0.8 per cent in the quarter.
However, Mr Oliver said he believed it would be 0.6 per cent growth.
Australian jobs, retail trade and housing figures are also due out this week.
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US and most European shares closed higher on Friday after a speech by US Federal Reserve chairman Ben Bernanke left open the possibility for new stimulus measures.
In the US, the Dow Jones Industrial Average added 90.13 points (0.69 per cent), closing at 13,090.84.
In Europe, Frankfurt's DAX 30 surged 1.09 per cent to 6,970.79 points and Paris' CAC 40 gained one per cent to 3,413.07 points at the close on Friday.
London bucked the trend, with the FTSE-100 slipping 0.14 per cent to 5,711.48 points.
Mr Oliver said the Australian market would get some benefit from Bernanke's much-awaited endorsement of more US Federal Reserve stimulus.
But he said it would also be negatively impacted by Chinese PMI figures released on the weekend which showed manufacturing contracted to 49.2 in August.
The week ahead could be volatile for the Australian market with both international and domestic economic data releases and events possibly causing shifts in the domestic market.
"I expect will see some nervousness over the next week because there's so much data coming out both internationally and Australia and a lot of it could go either way," he said.
"It could be a fairly volatile ride."
Internationally the European Central Bank meets on Thursday and investors will be awaiting any indication that it will start buying bonds to stabilise Italian and Spanish bond yields.
Domestically, the Reserve Bank of Australia meets on Tuesday but is expected to keep interest rates on hold at 3.5 per cent.
The following day the Australian Bureau of Statistics will release the latest gross domestic product (GDP) figures, a measure of the size of the national economy.
AAP's survey of 15 economists revealed a median forecast for GDP to have grown by 0.8 per cent in the quarter.
However, Mr Oliver said he believed it would be 0.6 per cent growth.
Australian jobs, retail trade and housing figures are also due out this week.
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Friday, August 31, 2012
Australian stock market closed 8/31/2012
Australian stock market closed 8/31/2012, gold in Sydney, SP/ASX200 index, All Ordinaries index, : The Australian shares closed flat, with investors sidelined ahead of a global meeting of central bankers in the US over the weekend.
The benchmark SP/ASX200 index was up 0.4 points, or 0.01 per cent, at 4,316.1 points, while the broader All Ordinaries index was down 1.2 points or 0.03 per cent to 4,339.
On the ASX 24, the September share price index futures contract was steady at 4,305 with 27,138 contracts traded.
RBS Morgans Ipswich manager Tony Russell said the market had been volatile of recent days but that the banking sector performed strongly on Friday.
'The market has had a fairly volatile time recently and that's due to a number of facts including local company results, other commodity prices,' Mr Russell said.
He said that traders were taking a wait-and-see approach to the highly anticipated speech in the United States by the US Federal Reserve chairman Ben Bernanke later on Friday night (Australian time) at Jackson Hole in Wyoming, where central bank chiefs from around the world had gathered.
'What the market is looking for will be some indication of whether quantitative easing is going to be introduced into the American economy,' Mr Russell said.
Among the big miners, BHP Billiton was down 20 cents at $31.79 and Rio Tinto was down 61 cents at $49.24, amid concerns about the slipping spot iron ore price and sluggish Chinese steel demand.
Fortescue Metals dipped five cents to $3.54.
Among the banks, Commonwealth Bank rose 76 cents at $54.74, Westpac was up one cent at $24.7 and National Australia Bank, was also up one cent, at $25.21.
ANZ fell 4 cents to $24.82.
Retailer Harvey Norman fell 5 cents to $2.05 following a 32 per cent dip in full year profit.
Regional newspaper group APN was down 10.5 cents, or 27 per cent, at 28.5 cents following the departure announcement of its longtime chief financial officer Peter Myers.
Newspaper publisher Fairfax Media set a fresh record close, at 42 cents.
There were 1.87 billion shares traded worth $6.43 billion, with 407 stocks up, 559 down and 318 steady.
The price of gold in Sydney closed at $US1,657.60 per fine ounce, up 18 US cents from $US1,657.42 on Thursday.
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The benchmark SP/ASX200 index was up 0.4 points, or 0.01 per cent, at 4,316.1 points, while the broader All Ordinaries index was down 1.2 points or 0.03 per cent to 4,339.
On the ASX 24, the September share price index futures contract was steady at 4,305 with 27,138 contracts traded.
RBS Morgans Ipswich manager Tony Russell said the market had been volatile of recent days but that the banking sector performed strongly on Friday.
'The market has had a fairly volatile time recently and that's due to a number of facts including local company results, other commodity prices,' Mr Russell said.
He said that traders were taking a wait-and-see approach to the highly anticipated speech in the United States by the US Federal Reserve chairman Ben Bernanke later on Friday night (Australian time) at Jackson Hole in Wyoming, where central bank chiefs from around the world had gathered.
'What the market is looking for will be some indication of whether quantitative easing is going to be introduced into the American economy,' Mr Russell said.
Among the big miners, BHP Billiton was down 20 cents at $31.79 and Rio Tinto was down 61 cents at $49.24, amid concerns about the slipping spot iron ore price and sluggish Chinese steel demand.
Fortescue Metals dipped five cents to $3.54.
Among the banks, Commonwealth Bank rose 76 cents at $54.74, Westpac was up one cent at $24.7 and National Australia Bank, was also up one cent, at $25.21.
ANZ fell 4 cents to $24.82.
Retailer Harvey Norman fell 5 cents to $2.05 following a 32 per cent dip in full year profit.
Regional newspaper group APN was down 10.5 cents, or 27 per cent, at 28.5 cents following the departure announcement of its longtime chief financial officer Peter Myers.
Newspaper publisher Fairfax Media set a fresh record close, at 42 cents.
There were 1.87 billion shares traded worth $6.43 billion, with 407 stocks up, 559 down and 318 steady.
The price of gold in Sydney closed at $US1,657.60 per fine ounce, up 18 US cents from $US1,657.42 on Thursday.
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Wednesday, August 29, 2012
Why Rio Tinto stock prices down 8/30/2012
Why Rio Tinto stock prices down 8/30/2012 : Mining giant Rio Tinto Ltd's stock has fallen to a three-year low as the iron ore price continues to decline on the back of China's slowing economy. At 1237 AEST, Rio's stock had lost 3.91 per cent $48.55 against a benchmark index fall of 1.01 per cent after the iron ore price on The Steel Index hit a fresh two and a half year low at $US90.30 per tonne.
The Australian Financial Review said Steel mills were continuing to purchase only as much as they need to maintain minimal blast furnace production from nearby stockpiles.
Falling commodity prices have sparked renewed concerns that Australia’s terms of trade could actually stop growing in the remainder of 2012, putting pressure on budget forecasts and the expected tax take.
Macquarie analyst Graeme Train said the price could fall as low as $US80 a tonne if Chinese steel mills continued to reduce their stock and steel demand and pricing remained weak.
Rio's rival BHP Billiton slid 2.96 per cent to $32.02.
Australia's third biggest miner, Fortescue Metals Group Ltd was at a two-year low, down 2.88 per cent to $3.545.
Mining services are also being hit by negative investor sentiment surrounding the sharp adjustment in commodity prices, with Boart Longyear, which cut its guidance today, also taking a hit to its share price.
The group's shares hit a record low since its 10-for-one share consolidation in May 2010, falling 33.03 per cent to $1.57.
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The Australian Financial Review said Steel mills were continuing to purchase only as much as they need to maintain minimal blast furnace production from nearby stockpiles.
Falling commodity prices have sparked renewed concerns that Australia’s terms of trade could actually stop growing in the remainder of 2012, putting pressure on budget forecasts and the expected tax take.
Macquarie analyst Graeme Train said the price could fall as low as $US80 a tonne if Chinese steel mills continued to reduce their stock and steel demand and pricing remained weak.
Rio's rival BHP Billiton slid 2.96 per cent to $32.02.
Australia's third biggest miner, Fortescue Metals Group Ltd was at a two-year low, down 2.88 per cent to $3.545.
Mining services are also being hit by negative investor sentiment surrounding the sharp adjustment in commodity prices, with Boart Longyear, which cut its guidance today, also taking a hit to its share price.
The group's shares hit a record low since its 10-for-one share consolidation in May 2010, falling 33.03 per cent to $1.57.
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Sunday, August 19, 2012
Australian shares markets outlook open august 20 2012
Australian shares markets outlook open august 20 2012 ; Australian shares are expected to open in positive territory on Monday as investors focus on the key week for earnings season following some better-than-expected company profit results.
The ASX 200 futures index was up five points at 4,335 on Sunday, pointing to a reasonable start in Australia on Monday.
we expects some fairly tame trade, with no key local data to be released while the holiday season in Europe and the US bubbles along. Investors have been encouraged by the local earnings season so far because it hasn't been as bad as expected,
"This is the key week for profit results so we'll get a good idea about where the economy stands after hearing from the major companies."
The Australian profit-reporting season moves into its busiest week with results from 87 major companies including Bluescope, Amcor, Oil Search, AGL, BHP, Coca-Cola, CSL, Woodside, Fortescue, IAG and Woolworths.
The Reserve Bank of Australia's (RBA's) last board meeting, to be released on Tuesday, and Governor Glenn Stevens' parliamentary testimony on Friday are likely to confirm that the bank is reasonably comfortable with current interest rate settings. Meanwhile, the Australian dollar is likely to remain strong as global central banks undertake further monetary easing.
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The ASX 200 futures index was up five points at 4,335 on Sunday, pointing to a reasonable start in Australia on Monday.
we expects some fairly tame trade, with no key local data to be released while the holiday season in Europe and the US bubbles along. Investors have been encouraged by the local earnings season so far because it hasn't been as bad as expected,
"This is the key week for profit results so we'll get a good idea about where the economy stands after hearing from the major companies."
The Australian profit-reporting season moves into its busiest week with results from 87 major companies including Bluescope, Amcor, Oil Search, AGL, BHP, Coca-Cola, CSL, Woodside, Fortescue, IAG and Woolworths.
The Reserve Bank of Australia's (RBA's) last board meeting, to be released on Tuesday, and Governor Glenn Stevens' parliamentary testimony on Friday are likely to confirm that the bank is reasonably comfortable with current interest rate settings. Meanwhile, the Australian dollar is likely to remain strong as global central banks undertake further monetary easing.
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Sunday, August 12, 2012
Australian share market outlook open 8/13/2012
Australian share market outlook open 8/13/2012 : The Australian sharemarket is expected to open higher on Monday after US stocks ignored the release of disappointing Chinese trade data and ended last week positively.
The ASX 200 futures index was up 17 points at 4,272 on Sunday, pointing to a positive start in Australia on Monday.
However, there is speculation policy makers will take measures such as cutting interest rates or cutting banks' reserve requirements to spur the economy.
On the Australian company front, the earnings season gets into full swing following a week of weaker results last week, with engineering firm Downer EDI, retailer JB Hi-Fi and gold miner Newcrest reporting on Monday.
On the local economic front, the June quarter wage price index out on Wednesday is expected to show a one per cent gain in wages.
That points to a 3.7 per cent gain for the year, which the Reserve Bank would be content with, as underlying inflation was about 2 per cent and productivity growth was 1.5 per cent, The NAB business survey, to be released on Tuesday, is likely to show business conditions and confidence rising modestly but still at poor levels
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The ASX 200 futures index was up 17 points at 4,272 on Sunday, pointing to a positive start in Australia on Monday.
However, there is speculation policy makers will take measures such as cutting interest rates or cutting banks' reserve requirements to spur the economy.
On the Australian company front, the earnings season gets into full swing following a week of weaker results last week, with engineering firm Downer EDI, retailer JB Hi-Fi and gold miner Newcrest reporting on Monday.
On the local economic front, the June quarter wage price index out on Wednesday is expected to show a one per cent gain in wages.
That points to a 3.7 per cent gain for the year, which the Reserve Bank would be content with, as underlying inflation was about 2 per cent and productivity growth was 1.5 per cent, The NAB business survey, to be released on Tuesday, is likely to show business conditions and confidence rising modestly but still at poor levels
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Sunday, August 5, 2012
Australian share market outlook august 6 2012
Australian share market outlook august 6 2012 : THE Australian share market is expected to open higher today on the back of a rally from the US and European bourses.
Overseas markets were boosted after US jobs figures exceeded expectations and investors took a more positive view of the European Central Bank's stance on the European debt crisis.
Positive employment data sent US stocks up for a fourth week, giving the Dow Jones Industrial Average index its longest rally since October.
Investors also took a more upbeat view of the European Central Bank's bond-buying plans after initially being disappointed when ECB President Mario Draghi failed to provide a concrete rescue plan to ease the eurozone's debt crisis.
Friday saw US and European shares rally hard, reversing the falls seen on Thursday as US jobs data surprised on the upside and investors came to a more positive view of the ECB's plans for buying bonds in trouble countries, In Europe, investors appear to be coming around to a more rational and positive understanding of what the ECB is moving towards doing.
It comes ahead of the Reserve Bank of Australia's board meeting and interest rate decision tomorrow.
Economists say the rate is almost certain to be left unchanged at 3.5 per cent after a rebound in retail and housing official figures last week showed retail sales increased 1 per cent in June to $21.5 billion. It was the biggest increase for any month since April last year.
Separate figures from the Australian Bureau of Statistics last week showed that the number of houses and flats approved for construction in June jumped 2.5 per cent, compared with May.
We believe the RBA will come to the view that, with employment growth relatively soft and inflation well contained, the economy can afford to grow a little more quickly, "We therefore expect it will ease rates modestly further by the end of the year, but not before October.
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Overseas markets were boosted after US jobs figures exceeded expectations and investors took a more positive view of the European Central Bank's stance on the European debt crisis.
Positive employment data sent US stocks up for a fourth week, giving the Dow Jones Industrial Average index its longest rally since October.
Investors also took a more upbeat view of the European Central Bank's bond-buying plans after initially being disappointed when ECB President Mario Draghi failed to provide a concrete rescue plan to ease the eurozone's debt crisis.
Friday saw US and European shares rally hard, reversing the falls seen on Thursday as US jobs data surprised on the upside and investors came to a more positive view of the ECB's plans for buying bonds in trouble countries, In Europe, investors appear to be coming around to a more rational and positive understanding of what the ECB is moving towards doing.
It comes ahead of the Reserve Bank of Australia's board meeting and interest rate decision tomorrow.
Economists say the rate is almost certain to be left unchanged at 3.5 per cent after a rebound in retail and housing official figures last week showed retail sales increased 1 per cent in June to $21.5 billion. It was the biggest increase for any month since April last year.
Separate figures from the Australian Bureau of Statistics last week showed that the number of houses and flats approved for construction in June jumped 2.5 per cent, compared with May.
We believe the RBA will come to the view that, with employment growth relatively soft and inflation well contained, the economy can afford to grow a little more quickly, "We therefore expect it will ease rates modestly further by the end of the year, but not before October.
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Thursday, August 2, 2012
Australian stock market to open lower 8/3/2012
Australian stock market to open lower 8/3/2012 : The Australian market looks set to open lower following falls on Wall Street with investors disappointed the European Central Bank announced no immediate measures to solve the euro zone sovereign debt crisis.
At 0637 AEST on Friday, the September share price index futures contract was down 28 points at 4,200
In economic news on Friday, the Australian Industry Group/Commonwealth Bank Australian Performance of Services Index is due out, while the Australian Bureau of Statistics is scheduled to release June's figures for overseas arrivals and departures.
In equities news, ResMed is due to post full year earnings results.
In Australia, the market on Thursday closed slightly higher, boosted by better-than-expected retail sales and trade balance figures.
The benchmark S&P/ASX200 index was up 6.7 points, or 0.16 per cent, at 4,269.5 points while the broader All Ordinaries index rose 7.4 points, or 0.17 per cent, to 4,290.1 points.
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At 0637 AEST on Friday, the September share price index futures contract was down 28 points at 4,200
In economic news on Friday, the Australian Industry Group/Commonwealth Bank Australian Performance of Services Index is due out, while the Australian Bureau of Statistics is scheduled to release June's figures for overseas arrivals and departures.
In equities news, ResMed is due to post full year earnings results.
In Australia, the market on Thursday closed slightly higher, boosted by better-than-expected retail sales and trade balance figures.
The benchmark S&P/ASX200 index was up 6.7 points, or 0.16 per cent, at 4,269.5 points while the broader All Ordinaries index rose 7.4 points, or 0.17 per cent, to 4,290.1 points.
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Monday, July 30, 2012
Australian stock to watch july 31 2012
Australian stock to watch july 31 2012 : U.S. stocks closed lower Monday despite easing speculation that the Federal Reserve and European Central Bank’s policy meetings will signal fresh stimulus measures to support growth. At the close of U.S. trade, the Dow Jones Industrial Average rose eased 0.02%, the S&P 500 index inched 0.05% lower, while the Nasdaq Composite index gave back 0.41%.
European stocks closed sharply higher, after a well-received Italian government bond auction while investors continued to focus on central bank policy meetings later in the week for signs of fresh easing measures. At the close of European trade, the EURO STOXX 50 soared 1.70%, France’s CAC 40 jumped 1.24%, while Germany’s DAX 30 rallied 1.27%.
AGK - AGL ENERGY LTD - down 14 cents at $15.81
AGL Energy Ltd says Graeme Hunt will join the board as a non-executive director in September.
APN - APN NEWS AND MEDIA LTD - down one cent at 53 cents
APN News and Media has named a new chairman and had a lucrative advertising contract with the NSW State Transit Authority bus fleet extended.
AOH - ALTONA MINING LTD - steady at 27 cents
Australia's Altona Mining and global giant Xstrata may have to call in an independent expert, with the pair unable to broker a price for Altona's Roseby Copper project.
BPT - BEACH ENERGY LTD - down 2.5 cents at $1.07
Oil and gas producer Beach Energy is forecasting profit growth in the 2012/13 financial year after exceeding its production forecasts in 2011/12.
ELD - ELDERS LTD - steady at 22.5 cents
Agribusiness Elders will axe 75 jobs at its Adelaide headquarters before September 30 in a move to cut costs.
FMS - FLINDERS MINES LTD - steady at 11.5 cents
Flinders Mines says it can now start developing its flagship $1.1 billion Pilbara iron ore project with no commercial impediments after a takeover bid for the miner by a Russian steel-maker fell through early in July.
IVA - IVANHOE AUSTRALIA LTD - up 1.5 cents at 46 cents
Miner Ivanhoe Australia's tumultuous year continued as it announced plans to slash exploration spending by half.
NFE - NORTHERN IRON LTD - up 11 cents at $1.15
Shares in takeover target Northern Iron soared after the miner revealed it now had two suitors vying for its attention.
TLS - TELSTRA AUSTRALIA CORPORATION - up two cents at $3.98
Telstra shares hit $4 for the first time in four years as the telco starts to benefit from its recent involvement with the national broadband network (NBN) and growth in its mobile and broadband businesses.
TSE - TRANSFIELD SERVICES LTD - up 8.5 cents at $1.835
FMG - FORTESCUE METALS GROUP LTD - down six cents at $4.09
RIO - RIO TINTO LTD - up 30 cents at $52.30
Engineering firm Transfield Services has won $100 million in new work with resources companies in Western Australia's Pilbara region.
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European stocks closed sharply higher, after a well-received Italian government bond auction while investors continued to focus on central bank policy meetings later in the week for signs of fresh easing measures. At the close of European trade, the EURO STOXX 50 soared 1.70%, France’s CAC 40 jumped 1.24%, while Germany’s DAX 30 rallied 1.27%.
AGK - AGL ENERGY LTD - down 14 cents at $15.81
AGL Energy Ltd says Graeme Hunt will join the board as a non-executive director in September.
APN - APN NEWS AND MEDIA LTD - down one cent at 53 cents
APN News and Media has named a new chairman and had a lucrative advertising contract with the NSW State Transit Authority bus fleet extended.
AOH - ALTONA MINING LTD - steady at 27 cents
Australia's Altona Mining and global giant Xstrata may have to call in an independent expert, with the pair unable to broker a price for Altona's Roseby Copper project.
BPT - BEACH ENERGY LTD - down 2.5 cents at $1.07
Oil and gas producer Beach Energy is forecasting profit growth in the 2012/13 financial year after exceeding its production forecasts in 2011/12.
ELD - ELDERS LTD - steady at 22.5 cents
Agribusiness Elders will axe 75 jobs at its Adelaide headquarters before September 30 in a move to cut costs.
FMS - FLINDERS MINES LTD - steady at 11.5 cents
Flinders Mines says it can now start developing its flagship $1.1 billion Pilbara iron ore project with no commercial impediments after a takeover bid for the miner by a Russian steel-maker fell through early in July.
IVA - IVANHOE AUSTRALIA LTD - up 1.5 cents at 46 cents
Miner Ivanhoe Australia's tumultuous year continued as it announced plans to slash exploration spending by half.
NFE - NORTHERN IRON LTD - up 11 cents at $1.15
Shares in takeover target Northern Iron soared after the miner revealed it now had two suitors vying for its attention.
TLS - TELSTRA AUSTRALIA CORPORATION - up two cents at $3.98
Telstra shares hit $4 for the first time in four years as the telco starts to benefit from its recent involvement with the national broadband network (NBN) and growth in its mobile and broadband businesses.
TSE - TRANSFIELD SERVICES LTD - up 8.5 cents at $1.835
FMG - FORTESCUE METALS GROUP LTD - down six cents at $4.09
RIO - RIO TINTO LTD - up 30 cents at $52.30
Engineering firm Transfield Services has won $100 million in new work with resources companies in Western Australia's Pilbara region.
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Wednesday, July 25, 2012
Australian share market closed july 25 2012
Australian share market closed july 25 2012 : Australian share market has closed slightly lower as fears that Spain may be headed for a financial bailout overshadowed lower-than-expected inflation figures in Australia.
At 16.15 AEST on Wednesday, the benchmark S&P/ASX200 index had fallen 9.3 points, or 0.23 per cent, to 4,123.9 points, while the broader All Ordinaries index was down 9.8 points, or 0.24 per cent, at 4,151.4 points.
On the ASX 24, the September share price index futures contract was five points weaker at 4,080 points, with 27,151 contracts traded, according to preliminary calculations.
CMC Markets chief market analyst Ric Spooner said investors were worried that a surge in Spain's borrowing costs to above seven per cent would be unaffordable for the debt-laden country if they stayed at that level.
"The bottom line is it's very difficult to aggressively reposition yourself into risk assets and equities while Spanish bond rates are where they are," Mr Spooner said.
"The Spanish government is now being obliged to pay a borrowing cost that it won't be able to sustain over the medium term.
"The reason bond rates are up there is that creditors are becoming increasingly concerned about the strains being placed on the Spanish government by the need to bolster or potentially bolster the regional governments (in Spain)."
The release of lower-than-expected inflation figures in Australia did little to encourage investors.
The Australian Bureau of Statistics figures showed Australia's consumer price index (CPI) rose 0.5 per cent in the June quarter, for an annual rate of 1.2 per cent.
It was expected to rise by 0.6 per cent in the June quarter for an annual rate of 1.3 per cent.
In the resources sector, global miner BHP Billiton reversed eight cents to $30.85, and Rio Tinto lost 75 cents to $51.01.
OZ Minerals dumped 10 cents to $7.43 after announcing its copper and gold production was lower in the June quarter compared to the previous three months.
Atlas Iron sagged 6.5 cents to $1.685 despite saying it was on track to double production by the end of the year.
Sundance Energy dipped five cents to 45 cents as it recorded net production of 43,170 barrels of oil equivalent
(BOE) for June in the United States, a drop compared to its May results.
Among the major banks, Westpac declined 17 cents to $22.45, ANZ lost 11 cents at $22.64, National Australia
Bank improved 16 cents to $23.82, and Commonwealth Bank lifted eight cents to $54.86.
Macquarie Group fell 43 cents to $23.87 despite saying it expects an improved result for the 2013 financial year.
Among other stocks, Hastings Diversified Utilities Fund firmed six cents to $2.54 after APA Group increased its takeover offer for Hastings.
Preliminary national turnover was 1.19 billion securities worth $3.4 billion, with 543 stocks down, 334 up and 350 unchanged.
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At 16.15 AEST on Wednesday, the benchmark S&P/ASX200 index had fallen 9.3 points, or 0.23 per cent, to 4,123.9 points, while the broader All Ordinaries index was down 9.8 points, or 0.24 per cent, at 4,151.4 points.
On the ASX 24, the September share price index futures contract was five points weaker at 4,080 points, with 27,151 contracts traded, according to preliminary calculations.
CMC Markets chief market analyst Ric Spooner said investors were worried that a surge in Spain's borrowing costs to above seven per cent would be unaffordable for the debt-laden country if they stayed at that level.
"The bottom line is it's very difficult to aggressively reposition yourself into risk assets and equities while Spanish bond rates are where they are," Mr Spooner said.
"The Spanish government is now being obliged to pay a borrowing cost that it won't be able to sustain over the medium term.
"The reason bond rates are up there is that creditors are becoming increasingly concerned about the strains being placed on the Spanish government by the need to bolster or potentially bolster the regional governments (in Spain)."
The release of lower-than-expected inflation figures in Australia did little to encourage investors.
The Australian Bureau of Statistics figures showed Australia's consumer price index (CPI) rose 0.5 per cent in the June quarter, for an annual rate of 1.2 per cent.
It was expected to rise by 0.6 per cent in the June quarter for an annual rate of 1.3 per cent.
In the resources sector, global miner BHP Billiton reversed eight cents to $30.85, and Rio Tinto lost 75 cents to $51.01.
OZ Minerals dumped 10 cents to $7.43 after announcing its copper and gold production was lower in the June quarter compared to the previous three months.
Atlas Iron sagged 6.5 cents to $1.685 despite saying it was on track to double production by the end of the year.
Sundance Energy dipped five cents to 45 cents as it recorded net production of 43,170 barrels of oil equivalent
(BOE) for June in the United States, a drop compared to its May results.
Among the major banks, Westpac declined 17 cents to $22.45, ANZ lost 11 cents at $22.64, National Australia
Bank improved 16 cents to $23.82, and Commonwealth Bank lifted eight cents to $54.86.
Macquarie Group fell 43 cents to $23.87 despite saying it expects an improved result for the 2013 financial year.
Among other stocks, Hastings Diversified Utilities Fund firmed six cents to $2.54 after APA Group increased its takeover offer for Hastings.
Preliminary national turnover was 1.19 billion securities worth $3.4 billion, with 543 stocks down, 334 up and 350 unchanged.
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Monday, July 23, 2012
Australian stock market outlook open july 24 2012
Australian stock market outlook open july 24 2012 : The Australian market looks set to open lower after strong falls worldwide amid concern over the eurozone's debt problems as Spain's borrowing costs hit the levels that prompted other nations to seek help.
World stocks have fallen sharply, the euro has hit a 12-year low against the yen and Spanish borrowing costs have reached record highs on speculation Spain could soon require a full state bailout.
In economic news on Tuesday, Reserve Bank of Australia (RBA) governor Glenn Stevens is scheduled to deliver speech to the Anika Foundation.
In equities news, Alesco Corp is due to post full year results, while Atlas Iron and Metminco are slated to post June quarter reports.
In Australia, the market on Monday, closed 1.7 per cent lower amid renewed fears about the European debt crisis and the end of Australia's mining boom.
At 1615 AEST on Monday, the benchmark S&P/ASX200 index was down 70.2 points, or 1.7 per cent, at 4,128.9, while the broader All Ordinaries index was down 71.4 points, or 1.7 per cent, at 4,159.2.
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World stocks have fallen sharply, the euro has hit a 12-year low against the yen and Spanish borrowing costs have reached record highs on speculation Spain could soon require a full state bailout.
In economic news on Tuesday, Reserve Bank of Australia (RBA) governor Glenn Stevens is scheduled to deliver speech to the Anika Foundation.
In equities news, Alesco Corp is due to post full year results, while Atlas Iron and Metminco are slated to post June quarter reports.
In Australia, the market on Monday, closed 1.7 per cent lower amid renewed fears about the European debt crisis and the end of Australia's mining boom.
At 1615 AEST on Monday, the benchmark S&P/ASX200 index was down 70.2 points, or 1.7 per cent, at 4,128.9, while the broader All Ordinaries index was down 71.4 points, or 1.7 per cent, at 4,159.2.
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Australian share market closedjuly 23 2012
Australian share market closedjuly 23 2012 : Australian sharemarket closed 1.7 per cent lower amid renewed fears about the European debt crisis and the end of Australia's mining boom.
At 16.15 (AEST) on Monday, the benchmark S&P/ASX200 index was down 70.2 points, or 1.7 per cent, at 4128.9, while the broader All Ordinaries index was down 71.4 points, or 1.7 per cent, at 4159.2.
On the ASX 24, the September share price index futures contract was down 76 points at 4,089, with 33,902 contracts traded.
Octa Phillip director of equities Andrew Sekely said the local market had suffered one of its biggest one-day falls in recent months due to debt fears in Europe and a local report about the end of Australia's mining boom.
"It's a combination of overseas influences and negative comments coming out of Europe and the local press," Mr Sekely said.
US stocks fell around one per cent on Friday, following renewed concerns about Spain after its borrowing costs rose past the mark which is considered too high to be sustainable.
Just as European ministers approved a rescue of Spain's troubled banks, the region of Valencia revealed it would become the first to tap a new fund designed to provide liquidity to the country's 17 semi-autonomous regions.
And locally, a Deloitte Access Economics report found the mining boom was about to peak and an economic slowdown would be inevitable.
Woolworths was one of the only local stocks to buck the downward trend, beating expectations to lift its sales by 4.7 per cent to $56.7 billion in the 2012 financial year.
|Woolworths shares were 27 cents higher at $27.89.
Shares in the mining giants were all substantially lower after the Deloitte report came out.
BHP Billiton was 81 cents lower at $30.55, Rio Tinto was $1.87 lower at $51.52 and Fortescue was down 31 cents to $4.05.
The four major banks were all weaker.
Westpac was 30 cents lower at $22.55, ANZ lost 25 cents to $22.82, National Australia Bank was down 30 cents to $23.69 and Commonwealth Bank 38 cents lower at $54.74.
National turnover was 1.36 billion securities worth $3.2 billion, with 245 stocks up, 653 down and 347 unchanged.
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At 16.15 (AEST) on Monday, the benchmark S&P/ASX200 index was down 70.2 points, or 1.7 per cent, at 4128.9, while the broader All Ordinaries index was down 71.4 points, or 1.7 per cent, at 4159.2.
On the ASX 24, the September share price index futures contract was down 76 points at 4,089, with 33,902 contracts traded.
Octa Phillip director of equities Andrew Sekely said the local market had suffered one of its biggest one-day falls in recent months due to debt fears in Europe and a local report about the end of Australia's mining boom.
"It's a combination of overseas influences and negative comments coming out of Europe and the local press," Mr Sekely said.
US stocks fell around one per cent on Friday, following renewed concerns about Spain after its borrowing costs rose past the mark which is considered too high to be sustainable.
Just as European ministers approved a rescue of Spain's troubled banks, the region of Valencia revealed it would become the first to tap a new fund designed to provide liquidity to the country's 17 semi-autonomous regions.
And locally, a Deloitte Access Economics report found the mining boom was about to peak and an economic slowdown would be inevitable.
Woolworths was one of the only local stocks to buck the downward trend, beating expectations to lift its sales by 4.7 per cent to $56.7 billion in the 2012 financial year.
|Woolworths shares were 27 cents higher at $27.89.
Shares in the mining giants were all substantially lower after the Deloitte report came out.
BHP Billiton was 81 cents lower at $30.55, Rio Tinto was $1.87 lower at $51.52 and Fortescue was down 31 cents to $4.05.
The four major banks were all weaker.
Westpac was 30 cents lower at $22.55, ANZ lost 25 cents to $22.82, National Australia Bank was down 30 cents to $23.69 and Commonwealth Bank 38 cents lower at $54.74.
National turnover was 1.36 billion securities worth $3.2 billion, with 245 stocks up, 653 down and 347 unchanged.
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Sunday, July 22, 2012
Australian stock market outlook july 23, 2012
Australian stock market outlook july 23, 2012 : The Australian stock market is tipped to open lower in a cautious start to the week on the back of losses in Europe and the United States on Friday. The losses are thought to be a case of some investors rushing to take profits after a week of gains and before the market fell due to fresh European concerns.
Just as European ministers approved a rescue of Spanish banks last week, the region of Valencia said on Friday it would ask for a bail-out through a new national fund.
On the ASX 24 on Sunday at midday (AEST), the September share price index futures contract was pointing to a 21-point loss at 4144 on volume of 4,798 contracts traded.
Australia's benchmark S&P/ASX200 index and broader All Ordinaries both eased on Friday but were up by nearly three per cent for the week to be at near two-month highs.
On Wall St on Friday, the Dow Jones Industrial Average was 120.8 points (0.9 per cent) weaker at 12,822.60.
The S&P 500-stock index shed 13.05 points (1.0 per cent) to 1362.66, while the tech-rich Nasdaq dropped 40.6 (1.37 per cent) to 2925.30.
London's benchmark FTSE 100 index of top companies was down 1.1 per cent to 5,651.77 points, Frankfurt's DAX 30 retreated 1.9 per cent to 6,630 points, and in Paris the CAC 40 gave up 2.14 per cent to 3,193.89 points.
Oil and base metals prices also fell on Friday. last week had been very good on the markets for non-resources stocks but the current volatile economic times meant investors were taking profits where they could.
If new jitters come in (such as the Spanish regional bail-out request) then it is time to take profits and I think that's what characterises a lot of what happened on Friday,
The Australian dollar was trading at three-month highs of 104.09 US cents at the end of Friday, but had eased on Sunday afternoon to 103.77.
"The Aussie (currency) has held up to a greater extent than the euro ... I think there's greater optimism too about Australia's prospects with a potential lift in terms of Chinese output," Mr James said.
"I think there will be a little bit of caution early in the week (on the share market) because of inflation figures out on Wednesday."
The release of consumer price index (inflation) data for the June quarter on Wednesday will be preceded by a speech by Reserve Bank Governor Glenn Stevens on Tuesday.
Economists are expecting a 0.6 per cent rise for the quarter, meaning a fall in the annual inflation rate to a benign 1.9 per cent, below the Reserve Bank's 2-3 per cent target. There would be scope for the Reserve Bank to then cut interest rates next month.
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Just as European ministers approved a rescue of Spanish banks last week, the region of Valencia said on Friday it would ask for a bail-out through a new national fund.
On the ASX 24 on Sunday at midday (AEST), the September share price index futures contract was pointing to a 21-point loss at 4144 on volume of 4,798 contracts traded.
Australia's benchmark S&P/ASX200 index and broader All Ordinaries both eased on Friday but were up by nearly three per cent for the week to be at near two-month highs.
On Wall St on Friday, the Dow Jones Industrial Average was 120.8 points (0.9 per cent) weaker at 12,822.60.
The S&P 500-stock index shed 13.05 points (1.0 per cent) to 1362.66, while the tech-rich Nasdaq dropped 40.6 (1.37 per cent) to 2925.30.
London's benchmark FTSE 100 index of top companies was down 1.1 per cent to 5,651.77 points, Frankfurt's DAX 30 retreated 1.9 per cent to 6,630 points, and in Paris the CAC 40 gave up 2.14 per cent to 3,193.89 points.
Oil and base metals prices also fell on Friday. last week had been very good on the markets for non-resources stocks but the current volatile economic times meant investors were taking profits where they could.
If new jitters come in (such as the Spanish regional bail-out request) then it is time to take profits and I think that's what characterises a lot of what happened on Friday,
The Australian dollar was trading at three-month highs of 104.09 US cents at the end of Friday, but had eased on Sunday afternoon to 103.77.
"The Aussie (currency) has held up to a greater extent than the euro ... I think there's greater optimism too about Australia's prospects with a potential lift in terms of Chinese output," Mr James said.
"I think there will be a little bit of caution early in the week (on the share market) because of inflation figures out on Wednesday."
The release of consumer price index (inflation) data for the June quarter on Wednesday will be preceded by a speech by Reserve Bank Governor Glenn Stevens on Tuesday.
Economists are expecting a 0.6 per cent rise for the quarter, meaning a fall in the annual inflation rate to a benign 1.9 per cent, below the Reserve Bank's 2-3 per cent target. There would be scope for the Reserve Bank to then cut interest rates next month.
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Sunday, July 15, 2012
Australian stock market expected to open higher july 16 2012
Australian stock market expected to open higher july 16 2012 : Australian market is expected to open higher following overseas gains but no dramatic movements are expected this week. the Australian market had already reacted positively to China reporting that economic growth had slowed to a more sustainable pace, it had not gained as much as overseas markets and would need to catch up.
We're already expecting a 33-point gain at the start of trade and I think it's reasonable to expect that we do need to catch up half to three-quarters of 1 per cent, The September share price index futures contract was up yesterday 33 points to 4082.
At the close on Friday the Dow Jones Industrial Average was up 203.82 points (1.62 per cent) to 12,777.09. The S&P 500-stock index added 22.02 (1.65 per cent) to 1356.78, while the tech-rich Nasdaq gained 42.28 (1.48 per cent) to 2908.47.
In Europe at the close on Friday, London's benchmark FTSE 100 index of top companies was up 1.03 per cent to 5666.13 points, Frankfurt's DAX 30 rallied 2.15 per cent to 6557.1 points and in Paris the CAC 40 rose 1.46 per cent to 3180.81 points.
European markets closed for holidays during the week, he did not expect any major changes domestically.
On Tuesday the market would examine the Reserve Bank of Australia's minutes from its July 3 board meeting when it kept the cash rate at 3.5 per cent, Economists will look closely at the minutes to see if there are any changes but the main thing is the Reserve Bank wants to see the next inflation data before cutting interest rates.''
we expected the central bank would cut the cash rate by a quarter of 1 per cent in August.The only other domestic economic data expected this week was national car sales
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We're already expecting a 33-point gain at the start of trade and I think it's reasonable to expect that we do need to catch up half to three-quarters of 1 per cent, The September share price index futures contract was up yesterday 33 points to 4082.
At the close on Friday the Dow Jones Industrial Average was up 203.82 points (1.62 per cent) to 12,777.09. The S&P 500-stock index added 22.02 (1.65 per cent) to 1356.78, while the tech-rich Nasdaq gained 42.28 (1.48 per cent) to 2908.47.
In Europe at the close on Friday, London's benchmark FTSE 100 index of top companies was up 1.03 per cent to 5666.13 points, Frankfurt's DAX 30 rallied 2.15 per cent to 6557.1 points and in Paris the CAC 40 rose 1.46 per cent to 3180.81 points.
European markets closed for holidays during the week, he did not expect any major changes domestically.
On Tuesday the market would examine the Reserve Bank of Australia's minutes from its July 3 board meeting when it kept the cash rate at 3.5 per cent, Economists will look closely at the minutes to see if there are any changes but the main thing is the Reserve Bank wants to see the next inflation data before cutting interest rates.''
we expected the central bank would cut the cash rate by a quarter of 1 per cent in August.The only other domestic economic data expected this week was national car sales
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Thursday, June 7, 2012
Australian stock market june 8 2012
Australian stock market june 8 2012 : The Australian stock market opened flat following a mixed performance on Wall Street overnight after the Federal Reserve indicated there would be no quick stimulus for the faltering US economy.
At the 1015 AEST official market open, the benchmark S&P/ASX 200 index fell 0.09 per cent to 4,104.9 points, while the broader All Ordinaries Index dropped 0.09 per cent to 4,152.7 points.
Resources stocks led the market stronger, with the major miners making solid gains.
BHP Billiton rose 2.46 per cent to $32.36 after the company agreed a deal with Olympic Dam workers.
Rio Tinto grew 2.63 per cent to $56.88.
Fortescue Metals gained 0.64 per cent to $4.71.
Among gold miners, Newcrest Mining fell 3.60 per cent to $24.85 and Eldorado Gold sank 3.46 per cent to $11.99.
In the energy sector, Woodside dipped 0.12 per cent to $32.73, Santos rose 0.50 per cent to $12.03 and Oil Search inclined 0.15 per cent $6.64.
Santos has confirmed it has sold a stake in Timor Sea fields to conglomerate SK Group.
Financial stocks weakened at the open, with the four banks retreating.
ANZ Banking Group dipped 0.41 per cent to $21.72, while Commonwealth Bank of Australia declined 0.20 per cent to $50.935.
National Australia Bank fell 0.53 per cent to $22.44 and Westpac Banking Corp decreased 0.57 per cent to $20.65.
Investment bank Macquarie Group declined 1.46 per cent to $26.31.
Among insurers, Insurance Australia Group dropped 0.60 per cent to $3.29, Suncorp sank 3.22 per cent to $7.81 and QBE retreated 0.32 per cent to $12.43.
Warren Buffett's Berkshire Hathaway has struck a deal with Suncorp on New Zealand insurance.
In retail, Wesfarmers lost 0.71 per cent to $29.36, while rival Woolworths fell 0.61 per cent to $26.505.
David Jones dipped 0.45 per cent to $2.19, while Myer grew 0.52 per cent to $1.905.
JB Hi-Fi retreated 0.44 per cent to $8.87, while Harvey Norman advanced 0.26 per cent lower to $1.885.
Telstra lost 0.27 per cent to $3.65.
Qantas rose 2.83 per cent to $1.09 after a hellish week that saw shares in the national carrier drop to an all-time low of $1.03.
Echo rose 3.48 per cent to $4.45 after key shareholder, Perpetual Investments Ltd, refused to support the appointment of former Victorian premier Jeff Kennett to the Echo board.
Mirvac retreated 1.57 per cent to $1.25 after chairman James MacKenzie lashed out at Australian politics.
Fairfax rose 1.69 per cent to 60 cents after reports circulated that private equity interest in the company is growing.
In economic news on Friday, the Australian Bureau of Statistics (ABS) releases April figures for international trade in goods and services as well as its housing finance for April.
Meanwhile, Reserve Bank of Australia (RBA) governor Glenn Stevens addresses the American Chamber of Commerce in Australia.
In equities news, marketing services company Photon Group is to hold extraordinary general meeting for shareholders to vote on name change to Enero Group, while the ANZ is due to review its interest rates.
In Australia, the market on Thursday finished stronger for the third consecutive day amid renewed optimism about Europe's ability to avert a financial disaster in Spain.
The benchmark S&P/ASX200 index was up 53.3 points, or 1.31 per cent, at 4,108.6 while the broader All Ordinaries index was up 52.0 points, or 1.27 per cent, at 4,156.7.
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At the 1015 AEST official market open, the benchmark S&P/ASX 200 index fell 0.09 per cent to 4,104.9 points, while the broader All Ordinaries Index dropped 0.09 per cent to 4,152.7 points.
Resources stocks led the market stronger, with the major miners making solid gains.
BHP Billiton rose 2.46 per cent to $32.36 after the company agreed a deal with Olympic Dam workers.
Rio Tinto grew 2.63 per cent to $56.88.
Fortescue Metals gained 0.64 per cent to $4.71.
Among gold miners, Newcrest Mining fell 3.60 per cent to $24.85 and Eldorado Gold sank 3.46 per cent to $11.99.
In the energy sector, Woodside dipped 0.12 per cent to $32.73, Santos rose 0.50 per cent to $12.03 and Oil Search inclined 0.15 per cent $6.64.
Santos has confirmed it has sold a stake in Timor Sea fields to conglomerate SK Group.
Financial stocks weakened at the open, with the four banks retreating.
ANZ Banking Group dipped 0.41 per cent to $21.72, while Commonwealth Bank of Australia declined 0.20 per cent to $50.935.
National Australia Bank fell 0.53 per cent to $22.44 and Westpac Banking Corp decreased 0.57 per cent to $20.65.
Investment bank Macquarie Group declined 1.46 per cent to $26.31.
Among insurers, Insurance Australia Group dropped 0.60 per cent to $3.29, Suncorp sank 3.22 per cent to $7.81 and QBE retreated 0.32 per cent to $12.43.
Warren Buffett's Berkshire Hathaway has struck a deal with Suncorp on New Zealand insurance.
In retail, Wesfarmers lost 0.71 per cent to $29.36, while rival Woolworths fell 0.61 per cent to $26.505.
David Jones dipped 0.45 per cent to $2.19, while Myer grew 0.52 per cent to $1.905.
JB Hi-Fi retreated 0.44 per cent to $8.87, while Harvey Norman advanced 0.26 per cent lower to $1.885.
Telstra lost 0.27 per cent to $3.65.
Qantas rose 2.83 per cent to $1.09 after a hellish week that saw shares in the national carrier drop to an all-time low of $1.03.
Echo rose 3.48 per cent to $4.45 after key shareholder, Perpetual Investments Ltd, refused to support the appointment of former Victorian premier Jeff Kennett to the Echo board.
Mirvac retreated 1.57 per cent to $1.25 after chairman James MacKenzie lashed out at Australian politics.
Fairfax rose 1.69 per cent to 60 cents after reports circulated that private equity interest in the company is growing.
In economic news on Friday, the Australian Bureau of Statistics (ABS) releases April figures for international trade in goods and services as well as its housing finance for April.
Meanwhile, Reserve Bank of Australia (RBA) governor Glenn Stevens addresses the American Chamber of Commerce in Australia.
In equities news, marketing services company Photon Group is to hold extraordinary general meeting for shareholders to vote on name change to Enero Group, while the ANZ is due to review its interest rates.
In Australia, the market on Thursday finished stronger for the third consecutive day amid renewed optimism about Europe's ability to avert a financial disaster in Spain.
The benchmark S&P/ASX200 index was up 53.3 points, or 1.31 per cent, at 4,108.6 while the broader All Ordinaries index was up 52.0 points, or 1.27 per cent, at 4,156.7.
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Friday, June 1, 2012
Australian share market closed june 1 2012
Australian share market closed june 1 2012 ; -The Australian share market struck a one-week low Friday as global markets remained risk averse due to the European debt crisis and weak economic data in the U.S. and China. However, growing expectations of Australian interest rate cuts lent support.
The benchmark S&P/ASX 200 closed down 0.3% at 4063.9 points after falling to 4030.4, following a decline in China's official manufacturing PMI to 50.4 in May--economists expected 51.5.
Among resources stocks, BHP Billiton, Rio Tinto, Woodside and Newcrest fell 0.7%-3.3%. Industrials and consumer discretionary stocks also suffered, with Campbell Brothers, Seven Group and Seven West Media down 3.6%-6.1%. However, Commonwealth Bank, Westpac and ANZ rose 0.6%-1.3% as several high-profile economists called for interest rate cuts by the Reserve Bank of Australia--banks may have an opportunity to boost their margins if the RBA slashes a key interest rate at next week's board meeting.
Investors were sidelined before Friday's release of U.S. non-farm payrolls data.
Overnight, European Central Bank President Mario Draghi demanded strong and immediate action to contain the euro debt crisis, and the pro-bailout New Democracy party had more support than anti-bailout SYRIZA, according to an opinion poll in Greece. However, U.S. private sector jobs, jobless claims, and Chicago PMI data missed expectations, and the E.U. Commission said there was no possibility of direct bank capitalization from the European Stability Mechanism.
"Europe is still a major concern and plans to deal with the crisis are evolving very slowly at best," said Pengana Capital portfolio manager Tim Schroeders. "Certainly risk aversion is occurring more quickly than Europe's preparedness to act. The flip side is that there's enough bad news to cajole policy makers into some sort of co-ordinated action, but it's hard to justify buying on that basis, particularly since the last two years show those kinds of policy responses have been disappointing in terms of their impact on the real economy. All they've managed to do is support asset prices for a while."
Nonetheless, the Australian share market was proving resilient to worse-than-expected Chinese PMI data, partly because of RBA rate cut hopes.
While many economists had expected a pause in the interest rate easing cycle, after the RBA cut 50 basis points in May, Westpac, NAB and CBA economists called for a 25 basis point cut next week. AMP, Nomura and Bell Potter expect 50 basis points next week.
"I am still forecasting back-to-back 50 basis point cuts," said Bell Potter's Charlie Aitken. "The trend in data, both global and local, has been terrible and the RBA would be wise to take out further insurance ahead of a horrible first-quarter GDP print on June 6."
AMP chief economist Shane Oliver said the Australian share market could fall further in coming months because the euro crisis is "spiralling out of control and euro-zone policy makers are doing what they always do--waiting for everything to go to the brink before acting."
But AMP's Oliver also said shares are very cheap relative to bonds, and further policy stimulus from the U.S, Europe, China should provide some support for the Australian share market for the rest of the year.
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The benchmark S&P/ASX 200 closed down 0.3% at 4063.9 points after falling to 4030.4, following a decline in China's official manufacturing PMI to 50.4 in May--economists expected 51.5.
Among resources stocks, BHP Billiton, Rio Tinto, Woodside and Newcrest fell 0.7%-3.3%. Industrials and consumer discretionary stocks also suffered, with Campbell Brothers, Seven Group and Seven West Media down 3.6%-6.1%. However, Commonwealth Bank, Westpac and ANZ rose 0.6%-1.3% as several high-profile economists called for interest rate cuts by the Reserve Bank of Australia--banks may have an opportunity to boost their margins if the RBA slashes a key interest rate at next week's board meeting.
Investors were sidelined before Friday's release of U.S. non-farm payrolls data.
Overnight, European Central Bank President Mario Draghi demanded strong and immediate action to contain the euro debt crisis, and the pro-bailout New Democracy party had more support than anti-bailout SYRIZA, according to an opinion poll in Greece. However, U.S. private sector jobs, jobless claims, and Chicago PMI data missed expectations, and the E.U. Commission said there was no possibility of direct bank capitalization from the European Stability Mechanism.
"Europe is still a major concern and plans to deal with the crisis are evolving very slowly at best," said Pengana Capital portfolio manager Tim Schroeders. "Certainly risk aversion is occurring more quickly than Europe's preparedness to act. The flip side is that there's enough bad news to cajole policy makers into some sort of co-ordinated action, but it's hard to justify buying on that basis, particularly since the last two years show those kinds of policy responses have been disappointing in terms of their impact on the real economy. All they've managed to do is support asset prices for a while."
Nonetheless, the Australian share market was proving resilient to worse-than-expected Chinese PMI data, partly because of RBA rate cut hopes.
While many economists had expected a pause in the interest rate easing cycle, after the RBA cut 50 basis points in May, Westpac, NAB and CBA economists called for a 25 basis point cut next week. AMP, Nomura and Bell Potter expect 50 basis points next week.
"I am still forecasting back-to-back 50 basis point cuts," said Bell Potter's Charlie Aitken. "The trend in data, both global and local, has been terrible and the RBA would be wise to take out further insurance ahead of a horrible first-quarter GDP print on June 6."
AMP chief economist Shane Oliver said the Australian share market could fall further in coming months because the euro crisis is "spiralling out of control and euro-zone policy makers are doing what they always do--waiting for everything to go to the brink before acting."
But AMP's Oliver also said shares are very cheap relative to bonds, and further policy stimulus from the U.S, Europe, China should provide some support for the Australian share market for the rest of the year.
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Monday, May 28, 2012
Australian stock market closed may 28 2012
Australian stock market closed may 28 2012 : The Australian stock market closed almost one per cent stronger, led by impressive financial and resources sectors, amid fresh optimism that Greece may stay in the euro zone.
At the 1615 AEST official market close, the benchmark S&P/ASX 200 index gained 0.96 per cent to 4,068 points and the broader All Ordinaries Index rose 0.95 per cent to 4,120.2 points.
IG Markets analyst Stan Shamu said the resources sector stole the show on the local market today, with financials not far behind.
"The big banks have been impressive today," he said.
"As expected in a fairly risk-on day, the defensive sectors lagged with telecoms, healthcare, utilities and consumer staples all underperforming."
The resources sector led the market, with the major miners gaining ground.
BHP Billiton grew 1.39 per cent to $32.05, while rival Rio Tinto lifted 1.73 per cent to $56.90.
Fortescue Metals jumped 5.56 per cent to $4.55.
Among gold miners, Newcrest Mining gained 2.42 per cent to $25.35 and Eldorado Gold gained 6.02 per cent to $12.50.
In energy stocks, Woodside rose 2.06 per cent to $31.64, after the company pledged to return cash to shareholders in the event that it does not make a final investment decision on major sites including the Browse liquified natural gas (LNG) project.
Woodside says its recently-commissioned $15 billion Pluto project is operating at almost two thirds capacity, creating opportunities for spot sales to Japan.
Santos gained 1.86 per cent to $12.02 and Oil Search lifted 1.19 per cent to $6.78.
The financial sector finished stronger, with the big four banks recording modest gains.
ANZ Banking Group rose 0.98 per cent to $20.58, Commonwealth Bank of Australia grew 1.14 per cent to $49.28, and Westpac Banking Corp lifted 1.39 per cent to $20.40.
National Australia Bank gained 1.5 per cent to $23.60 following reports that the lender is reshuffling the board of its UK business.
Investment bank Macquarie Group increased 2.67 per cent to $26.52, after reports that the company will continue in its bid to overhaul the Coalworks board.
Among insurers, Insurance Australia Group closed flat at $3.28, Suncorp grew 0.39 per cent to $7.68 and QBE rose 1.61 per cent to $12.55.
In retail, Wesfarmers lost 1.17 per cent to $28.66, while rival Woolworths fell 1.61 per cent to $26.26.
David Jones grew 1.32 per cent to $2.30, while rival Myer gained 1.52 per cent to $2.
JB Hi-Fi expanded 0.66 per cent to $9.07, while Harvey Norman gained 1.02 per cent to $1.97.
Telstra sank 0.28 per cent to $3.52, while Singapore Telecommunications dropped 0.4 per cent to $2.45.
The competition watchdog is set to approve an $800 million deal in which SingTel-owned Optus will move some of it customers onto the national broadband network (NBN).
Blue chip Qantas gained 3.09 per cent to $1.50.
Qantas chief executive, Alan Joyce, has said he is already seeing the benefits of the group's split.
Qantas' arm Jetstar is being taken to court for allegedly allowing cabin crew recruited from Thailand to be paid about half the rate of the budget airline's Australian staff.
Elsewhere, Fairfax shares rose 3.2 per cent to 64.5 cents following reports that the company is considering scrapping weekday print editions.
Mining magnate Gina Rinehart is believed to have lifted her stake in Fairfax, and questioned the abilities of the company's chairman Roger Corbett in the process.
News Ltd slipped 0.45 per cent to $19.91, amid reports the group is set to announce a major restructure of its publishing business, in a move that will see up to 400 editorial jobs cut.
Lend Lease Group edged up 0.68 per cent to $7.36, after the group said it was in talks with resources groups about investing in infrastructure projects.
Brickworks slipped 0.79 per cent to $10.10, after Hunter Green said it was trying to gain support for a strategy to remove Brickworks Ltd’s 42 per cent stake in Washington HSP.
Washington HSP dropped 0.22 per cent to $13.22.
Hastie Group is still in trading halt, after last trading at 16 cents. Up to 2,700 jobs could be lost from the mechanical businesses operated by the troubled engineering company after it appointed administrators.
In economic news, Australians spent more than $11 billion buying goods online in the 12 months to April.
On Friday, the local stock market relinquished early gains to close around 0.6 per cent lower as relentless uncertainty over Greece's future and Chinese bank loan targets plagued investors.
At the close, the benchmark S&P/ASX200 index was down 26.6 points, or 0.66 per cent, at 4,029.2. The broader All Ordinaries index was down 25.0 points, or 0.61 per cent, at 4,081.2.
For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
At the 1615 AEST official market close, the benchmark S&P/ASX 200 index gained 0.96 per cent to 4,068 points and the broader All Ordinaries Index rose 0.95 per cent to 4,120.2 points.
IG Markets analyst Stan Shamu said the resources sector stole the show on the local market today, with financials not far behind.
"The big banks have been impressive today," he said.
"As expected in a fairly risk-on day, the defensive sectors lagged with telecoms, healthcare, utilities and consumer staples all underperforming."
The resources sector led the market, with the major miners gaining ground.
BHP Billiton grew 1.39 per cent to $32.05, while rival Rio Tinto lifted 1.73 per cent to $56.90.
Fortescue Metals jumped 5.56 per cent to $4.55.
Among gold miners, Newcrest Mining gained 2.42 per cent to $25.35 and Eldorado Gold gained 6.02 per cent to $12.50.
In energy stocks, Woodside rose 2.06 per cent to $31.64, after the company pledged to return cash to shareholders in the event that it does not make a final investment decision on major sites including the Browse liquified natural gas (LNG) project.
Woodside says its recently-commissioned $15 billion Pluto project is operating at almost two thirds capacity, creating opportunities for spot sales to Japan.
Santos gained 1.86 per cent to $12.02 and Oil Search lifted 1.19 per cent to $6.78.
The financial sector finished stronger, with the big four banks recording modest gains.
ANZ Banking Group rose 0.98 per cent to $20.58, Commonwealth Bank of Australia grew 1.14 per cent to $49.28, and Westpac Banking Corp lifted 1.39 per cent to $20.40.
National Australia Bank gained 1.5 per cent to $23.60 following reports that the lender is reshuffling the board of its UK business.
Investment bank Macquarie Group increased 2.67 per cent to $26.52, after reports that the company will continue in its bid to overhaul the Coalworks board.
Among insurers, Insurance Australia Group closed flat at $3.28, Suncorp grew 0.39 per cent to $7.68 and QBE rose 1.61 per cent to $12.55.
In retail, Wesfarmers lost 1.17 per cent to $28.66, while rival Woolworths fell 1.61 per cent to $26.26.
David Jones grew 1.32 per cent to $2.30, while rival Myer gained 1.52 per cent to $2.
JB Hi-Fi expanded 0.66 per cent to $9.07, while Harvey Norman gained 1.02 per cent to $1.97.
Telstra sank 0.28 per cent to $3.52, while Singapore Telecommunications dropped 0.4 per cent to $2.45.
The competition watchdog is set to approve an $800 million deal in which SingTel-owned Optus will move some of it customers onto the national broadband network (NBN).
Blue chip Qantas gained 3.09 per cent to $1.50.
Qantas chief executive, Alan Joyce, has said he is already seeing the benefits of the group's split.
Qantas' arm Jetstar is being taken to court for allegedly allowing cabin crew recruited from Thailand to be paid about half the rate of the budget airline's Australian staff.
Elsewhere, Fairfax shares rose 3.2 per cent to 64.5 cents following reports that the company is considering scrapping weekday print editions.
Mining magnate Gina Rinehart is believed to have lifted her stake in Fairfax, and questioned the abilities of the company's chairman Roger Corbett in the process.
News Ltd slipped 0.45 per cent to $19.91, amid reports the group is set to announce a major restructure of its publishing business, in a move that will see up to 400 editorial jobs cut.
Lend Lease Group edged up 0.68 per cent to $7.36, after the group said it was in talks with resources groups about investing in infrastructure projects.
Brickworks slipped 0.79 per cent to $10.10, after Hunter Green said it was trying to gain support for a strategy to remove Brickworks Ltd’s 42 per cent stake in Washington HSP.
Washington HSP dropped 0.22 per cent to $13.22.
Hastie Group is still in trading halt, after last trading at 16 cents. Up to 2,700 jobs could be lost from the mechanical businesses operated by the troubled engineering company after it appointed administrators.
In economic news, Australians spent more than $11 billion buying goods online in the 12 months to April.
On Friday, the local stock market relinquished early gains to close around 0.6 per cent lower as relentless uncertainty over Greece's future and Chinese bank loan targets plagued investors.
At the close, the benchmark S&P/ASX200 index was down 26.6 points, or 0.66 per cent, at 4,029.2. The broader All Ordinaries index was down 25.0 points, or 0.61 per cent, at 4,081.2.
For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
Sunday, May 27, 2012
Australian shares market outlook open lower may 28 2012
Australian shares market outlook open lower may 28 2012, Australian stock market prediction next week may 28-1 june 2012 : The Australian sharemarket is expected to open slightly lower on Monday as worries about Europe continue to weigh on global markets. Another flare-up in Europe's debt crisis knocked US markets lower on Friday as Spanish bank Bankia hoped for a major bailout. The Standard & Poor's 500 index fell 2.86 points to 1317.82. The Nasdaq composite fell 1.85 points to 2837.53.
Australian futures fell 13 points, or 0.3 per cent, as a result of the fall in US shares, The odds are we'll probably end up down slightly at the open,
In the absence of anymore weekend stimulus announcements out of China, futures point to a softish open for the Australian share market on Monday morning."
Despite a better consumer outlook in the US, investors were still worried about Spanish banks and the possibility of Greece leaving the eurozone.
European markets closed higher on Friday, with London's benchmark FTSE 100 index of top companies inching up 0.03 per cent to 5351.53 points.
Meanwhile, the new president of Spain's fourth-biggest bank, Bankia, was confident of receiving 19 billion euros ($A24.5 billion) from the government in the largest bank bailout in the country's history.
The Spanish government has already spent 4.5 billion euros ($A5.82 billion) on Bankia after the lender was partially nationalised earlier this month.
Mr Oliver said European worries would continue to weigh on the Australian sharemarket this week.
Australian stocks have fallen 9.2 per cent over the month.
This week investors will keep a close eye on a raft of data being released locally and overseas, including an Irish referendum on a European fiscal pact on Thursday and US jobs numbers on Friday.
Australian retail sales figures will be released on Wednesday, with risks to the downside after a bounce in March.
On Thursday, relatively weak building approvals figures will be released after a lift last month. The RP Data Rismark house price index will be released on Friday.
For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
Australian futures fell 13 points, or 0.3 per cent, as a result of the fall in US shares, The odds are we'll probably end up down slightly at the open,
In the absence of anymore weekend stimulus announcements out of China, futures point to a softish open for the Australian share market on Monday morning."
Despite a better consumer outlook in the US, investors were still worried about Spanish banks and the possibility of Greece leaving the eurozone.
European markets closed higher on Friday, with London's benchmark FTSE 100 index of top companies inching up 0.03 per cent to 5351.53 points.
Meanwhile, the new president of Spain's fourth-biggest bank, Bankia, was confident of receiving 19 billion euros ($A24.5 billion) from the government in the largest bank bailout in the country's history.
The Spanish government has already spent 4.5 billion euros ($A5.82 billion) on Bankia after the lender was partially nationalised earlier this month.
Mr Oliver said European worries would continue to weigh on the Australian sharemarket this week.
Australian stocks have fallen 9.2 per cent over the month.
This week investors will keep a close eye on a raft of data being released locally and overseas, including an Irish referendum on a European fiscal pact on Thursday and US jobs numbers on Friday.
Australian retail sales figures will be released on Wednesday, with risks to the downside after a bounce in March.
On Thursday, relatively weak building approvals figures will be released after a lift last month. The RP Data Rismark house price index will be released on Friday.
For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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