ENERGY

The manufacturing sector in Australia has begun its positive production kick in four months in spite the difficulties in coping with the high value of the Australian dollar and subdued local demand.

Investors at the Australian Stock Market is expected to rebound albeit cautiously at today's trading. Here are the views of two of the top market analysts on how the market will likely perform on 4 July, Monday.

Prime Minister Julia Gillard has soften her tone and argued with new semantics to push for the carbon tax.

An independent team studying the environmental impact of Australia's Lynas Corp.'s proposed rare earths facility in Malaysia said more safety measures need be in place.

From IG Markets Analyst Ben Potter:On Wall Street overnight, stock finished the quarter and end of the first half in bullish fashion, logging its fourth consecutive gain as Greece passed a second crucial vote on the implementation of the latest austerity package and a much stronger-than-expected Chicago PMI number.

The proposed mining tax will successfully pass the parliamentary scrutiny and keep its present form, according to Prime Minister Julia Gillard, who believes that firm backings from independent MPs will seal the measures’ good fortunes.

Small business support for the Australian Government has fallen to a 15-year low, according to the Sensis Business Index released today. SMEs have become much less supportive of the Federal Government’s policies, with the indicator declining sharply during the quarter to be the lowest level since February 1996.

Despite the nuclear meltdown scare spawned by Japan’s near-uranium leak, Rio Tinto said on Wednesday that it remains committed to stay in the uranium mining operations even as the global resource giant has admitted that growth in the sector could some snag over the next 10 years.

At lunch the Australian share market is having a much better day, with the All Ordinaries index (XAO) around 0.4 pct or 19.7 pts higher to 4533.5. Close to all sectors are higher, with gains from the banks and miners helping to keep the market in positive territory.

Admittedly would weigh on household budgets, the Australian government has volunteered to share some of the financial burden entailed by the proposed carbon tax.

Australia's renewable energy industry has welcomed Thursday's report of the Senate Inquiry into the Social and Economic Impact of Rural Wind Farms, saying it provided no reason to stop the roll out of this important clean energy technology.

Australia's Prime Minister Julia Gillard is celebrating her first year in government with almost 60 percent of citizens wary of extending support to reforms she wanted to undertake specifically a carbon emissions tax deemed unpopular in an economy fueled by the mining sector.

The Australian stock market is seen receiving a little shove from the negative leads over volatile overnight sessions in the US and European stock markets. The ASX is seen performing modestly on Friday.

ExxonMobil Australia subsidiary Mobil Oil Australia plans to increase fuel storage capacity at its Adelaide terminal with the construction of new 9 million litre diesel tank.

Reports of a possible BHP Billiton takeover on Perth-based Woodside Petroleum emerged on Tuesday, contradicting earlier speculations that the mining giant is considering a buyout amidst Woodside’s numerous woes on its Pluto LNG project.

Even as Germany, Japan, Switzerland and other nations move to abandon existing and planned nuclear reactors, the United States is on a path to see at best only a small handful of already planned, government-backed reactor projects proceed, a group of experts said today.

There is now no stopping the Australian government from implementing the economy-wide carbon tax that aims to lower greenhouse emissions. The Gillard administration even got the support of independent MP Tony Windsor after the Productivity Commission report.

Exco shareholders gave their go signal on Friday for the $175 million deal that will formally transfer ownership of the company’s Queensland mining assets to Xstrata.

Australia needs to brace for higher electricity rates and transport costs as soon as the government implements the carbon tax. This is one of the key results of the independent study made by the designated independent team the Productivity Commission.

Treasurer Wayne Swan is set to release today the Productivity Commission's report on international climate regimes at noon in Brisbane. Mr Swan will try to justify to opposing industry that seven of Australia's top-10 trading partners have adopted major policies to reduce pollution. The coal and gas industries have continue to oppose the carbon tax legislation further arguing the report should look at the measures taken by Australia's competitors.

As the Australian share market went down for a sixth consecutive trading day, investors went to the New Zealand markets, which rose close to 20 points to 3525.39, a change of about 56 percent.

Australia's stock market has opened at a modest pace taking on from overnight leads as Wall Street gave up mid-session gains as Federal Reserve chairman Ben Bernanke hinted that further stimulus is required to boost the US economy.

Weak trading sessions in the US and European markets will likely rebound in local trading on Tuesday. Investors at the Australian Stock market would likely be on the sidelines as there would be some reluctance ahead of the RBA interest rate pronouncement at 2:30PM AEST.

Global resource company BHP Billiton has announced the start of its oil production in the Gulf of Mexico following the lifting of deep-water drilling ban on the area imposed last year by US President Barack Obama.

As world markets ended up disappointingly with a tepid performance on Friday, analysts expect some negativity spreading, but the good market support for the Australian share markets will hopefully hold it up at today's trading day.

Markets in the Asia-Pacific region have remained quiet at the end of Monday's trading as public holidays in China, Hong Kong, and South Korea have kept only Tokyo's Nikkei and Australia's S&P 500 working until the afternoon.

Australia has generated fewer jobs in May, according to a survey made by the ANZ Bank, which was reflected in lower job placements posted online or on newspapers.

Australia's share markets drifted lower today in subdued trading conditions as investors and traders took a breather after a wild week. Losses were limited by bargain hunting and technical support at the low point established in the last fortnight. Globally, markets are on hold ahead of the non-farm payrolls data to be released tonight in the US, analysts said.

Australia's employers led by an industry group and the retailers association have warned of the possible consequences of the minimum wage increase approved by authorities.