Posts Tagged ‘finance news’
Thursday, June 11th, 2009
Presented by Michael Hevern
MDSFinancial
Click here to watch the presentation.
or
Click here to download the mp3 audio recording (1020Kb).
General Advice Only
*************************************************
In this morning s wrap
DOW: down 0.3%
$US65bn in Bond Auctions This Week;
DOW: Down on Interest Rates & Inflation
NASDAQ: down 0.4%
iPhone for $US99
FTSE: up 0.7%
Energy & Materials Lead
DAX up 1.1% & CAC up 0.6%
NIKKEI: up 2%
Japan s Recession Easing;
Hang Seng up 4%
Oil: up 0.7% ($71) up 60% in 2009
OPEC Target $US75;
Inflation Hedge
Gold: up 0.04% ($955)
Commodities Mixed;
USD Higher
SPI up 3
SPI: Critical Level(s): 3850 to 4000
Miners & Energy to Support
ASX News
KZL to raise $262m (Chinese up to 20%)
DOW demand for services strong
OZL decides on $1.7bn Minmetals deal
Unemployment figures out today (~5.9%)
Energy and Miners resume gains
Financials to be steady
ASX to open flat;
US & UK mixed
Tags: ASX News, Business News, Commodities, Crude Oil, Dow, finance news, Rio Tinto, stockmarket, trading
Posted in Stock Market Analysis | No Comments
Tuesday, June 9th, 2009
“Rio Tinto is like a dishonourable woman: once she loved the money in Chinalco’s pocket but she actually did not love the man himself. Now she is breaking faith and kicking down the ladder.”
Or at least, so says China s official news agency, Xinhua.
In the wake of the collapse of the $24 billion deal between Rio Tinto and Chinalco, one commentator in the Chinese press is spicing up the finance pages with a rare flash of theatrics.
Most other Chinese analysts however are attributing the failure of the deal to political pressure exerted by the Australian government, underpinned by a general anti-Chinese sentiment.
Meanwhile, Chinese steelmakers are voicing concerns that the tie-up between Rio and BHP for iron ore operations in the Pilbara will create a monopoly. The deal has still to be approved by competition regulators.
Rio has resumed trading this morning, following a halt on Friday.
ASX Code: RIO
Chart from the Market Analyser. Click here for a free trial.
For more details on this news story:
Tags: ASX News, Australian mining companies, finance news, pilbara mining, rio bhp, rio chinalco
Posted in ASX Company News | No Comments
Wednesday, June 3rd, 2009
The Macquarie Group s recent capital raising has brought in $669 million from retail investors, making this the strongest ever retail response to a capital raising.
MacBank s initial target had been a modest $200 million through a Share Purchase Plan, but with 40% of eligible shareholders bidding for the stock at an average of $12,054 per bid, this was one for the record books.
This result, combined with an earlier institutional placement, has generated $1.2 billion in new capital for Macquarie.
The share price was up 11.9% on Monday, and a further 2.6% yesterday.
ASX Code: MGX
Source: Market Analyser. Click here for a free trial.
For more information on Share Purchase Plans, and details of upcoming SPPs, click here.
For more details on this news story -
Tags: ASX News, Business News, capital raising, finance news, Macquarie, mgx, Share Purchase Plan, SPP
Posted in ASX Company News | No Comments
Friday, May 29th, 2009
The U.S. government has placed a $232 million order with Australian pharmaceutical company CSL for a swine flu vaccine.
The vaccine for the type A (H1N1) influenza is still in development but clinical trials are due to begin in the next few months, funded by the US Department of Health and Human Services. Manufacture of the vaccine will be at CSL s Parkville facility in Victoria.
The Australian government has ordered 10 million doses.
This all seems like great news for CSL and its shareholders, but according to an article in The Age this morning, vaccine production accounts for only 8% of CSL s revenue due to the size of the Australian market, making this more of a good public relations opportunity rather than a financial bonanza. If CSL can gain a share of the US market, however, things could become interesting.
The CSL share price was up on market open this morning:
Source: Market Analyser. Click here for a free trial.
For more details on this news story:
Tags: ASX News, Business News, CSL, finance news, shareholder, swine flu
Posted in ASX Company News | No Comments
Thursday, May 28th, 2009
As the government warns of a likely increase in confirmed cases of swine flu, companies and organisations are feeling the impact.
- Qantas and Virgin Blue have quarantined flight attendants who came in direct contact with confirmed swine flu cases
- News Limited is advising any staff returning from overseas to stay away from the office for 48 hours, and then only return after clearance from HR
- The Commonwealth Bank has conducted planning and risk assessment scenarios
- Jetstar has cancelled almost a third of its flights to Japan, as concern for the flu impacts on demand
- A McDonald s outlet in northern Melbourne was closed after a staff member was diagnosed
So while the Prime Minister encourages us all to wash our hands, CIOs are busy dusting off business continuity plans
Tags: Business News, Commonwealth Bank, finance news, Jetstar, mcdonalds, news limited, Qantas, swine flu, Virgin Blue
Posted in ASX Company News | No Comments
Thursday, May 28th, 2009
Presented by Michael Hevern
MDSFinancial
Click here to watch the presentation.
or
Click here to download the mp3 audio recording (1046Kb).
General Advice Only
*************************************************
In this morning s wrap
DOW: down 2.1%
GM $US27bn Debt Plan Fails (Going to ZERO)
NASDAQ: down 1.1%
Microsoft – Yahoo Talks?
BroadCom up 3.6%
FTSE: up 0.1%
House Prices to Fall 14%
DAX up 0.3% & CAC up 0.7%
NIKKEI: up 1.4%
Financials Weigh (down ~2%); Toshiba (#3) Raises $US3bn
Hang Seng up 5.2%
Oil: up 1.6% ($63)
OPEC Meeting
(Output on Hold)
Gold: up 0.5% ($956)
Commodities Mixed;
USD Lower (4 month Lows)
SPI down 29 (-0.8%)
SPI: Critical Level(s): 3850 to 3600
ASX News
ANZ $2.5bn capital raising RBS Asian Assets
BHP Kloppers caution about signs of recovery
Skilled Jobs Ads down over 60% in year
QAN cuts Jobs; delaying new planes
CTX to buy 302 petrol stations from Mobil
AAX – $78 contract in Indonesia
Golds to see further profit taking
Materials, Financials and Energy to trade lower
ASX to open lower; US & UK bears back
Tags: ASX News, BHP, finance markets, finance news, FTSE, gold, Rio Tinto, stock market, stockmarket
Posted in Stock Market Analysis | No Comments
Wednesday, May 27th, 2009
In the news today, Caltex is buying Exxon Mobil s 302 Australian petrol service stations.
The $300 million purchase covers the inventories, settlement costs and will also see Caltex take on 1700 staff. The funding is coming from internal sources, according to Caltex CEO Des King.
The deal still needs to be approved by the Australian Competition and Consumer Commission and the Foreign Investment Review Board, however the share price was up this morning on market open.
Source: Market Analyser. Click here for a free trial.
For more details on this news story, go to The Age.
Tags: ACCC, ASX News, Caltex, exxon mobil, finance news, foreign investment
Posted in ASX Company News | No Comments
Tuesday, May 26th, 2009
The Australian dollar s recent rally is causing analysts to describe it as being at the vanguard of a global recovery .
According to this Bloomberg report, the AUD s recent upswing is an indicator of optimism among analysts that economies worldwide are recovering.
The Aussie dollar has risen 21% since Feb 25, the fastest gain since it began freely trading in 1983. It s tipped to outpace all other top currencies.
The good signs:
- retail sales and export figures jumped in March
- jobless numbers dropped in April
- the continuing growth in India and China will secure a demand for our commodities
- Australia s recession is considered shallow compared to those of the other G-10 economies
On the other hand:
- some analysts feel the AUD s rally doesn t have staying power
- investors may turn instead to emerging markets with higher interest rates, such as Brazil and South Africa
Source: Market Analyser Click here for a free trial.
To get the details in the Bloomberg article, click here.
Tags: aud, australia recession, Australian Dollar, currency, finance news, global economic crisis
Posted in ASX Company News | No Comments
Monday, May 25th, 2009
The ban on the covered short-selling of financial stocks will be lifted today, five days before the scheduled expiry date.
ASIC imposed the ban eight months ago, in an effort to curb the market volatility prevalent in the wake of the Lehman Brothers collapse. But today the regulator has announced the conditions are favourable for a return to covered short sales.
The ban on covered short selling of most non-financial securities was lifted in November.
To read ASIC s statement, click here.
To find out more about using covered calls as part of your trading strategy, visit the Trader Dealer website.
Tags: ASIC, covered call, finance news, options trading, short sell, Trading Strategies
Posted in ASX Company News | No Comments
Thursday, May 21st, 2009
The Bank of Queensland has been scouting for potential merger opportunities recently, and according to the Herald Sun, is in talks with Suncorp s banking business, with a view to create a fifth force in the Australian banking market.
The two parties are thought to be discussing options for generating value for both sets of shareholders.
Advantages:
- Suncorp could use an ASX listing to separate its banking and insurance businesses
- A merger would remove competition for Queensland banking
- Both banks can improve their credit ratings, leading to lower fees on government wholesale funding guarantees
- The combined level of deposits and loan assets would be roughly level with St George Bank
Suncorp Metway
ASX Code: SUN
Bank of Queensland
ASX Code: BOQ
Charts from the Market Analyser.
To read the full Herald Sun article, click here.
Tags: ASX News, bank merger, Bank of Queensland, BOQ, finance news, shareholders, SUN, Suncorp
Posted in ASX Company News | No Comments
