From MORRISON SECURITIES PTY. LTD:
U.S. stocks fell Tuesday as investors considered weaker-than-expected retail sales data and watched for progress in Europe over Greece's debt.
Nickel miner Western Areas reported on Tuesday a 64 per cent decline in its first half net profit due to lower prices of the commodity. From July to December 2011, the firm logged a $24.1 million net profit, down from $67.2 million compared to the same period a year ago.
While hundreds of jobs continue to be shed across Australia since the start of February as businesses complain of the strong currency and weak consumer confidence, workers in Holden would enjoy up to a 22 per cent wage increase spread over the next three years.
To increase the production capability of the Escondida copper mine in Chile, Rio Tinto has approved US$1.4 billion for two projects supporting this move.
The Australian stock market is seen heading for a slow but steady start on Tuesday with the positive global markets performance extending limited gains on commodities and other risk-related assets.
Stocks added to gains and hit session highs in afternoon trading, buoyed by the adoption of austerity measures by Greece's Parliament. The Dow Jones Industrial Average was recently ahead 82 points, or 0.6%, at 12884. The Standard & Poor's 500-stock index advanced 10 points, or 0.8%, to 1353, and the Nasdaq Composite gained 29 points, or 1%, to 2933.
Stocks were dragged down for their worst one-day loss in about six weeks by tumult over the Greek bailout, disappointing readings on the U.S. economy and a downgrade of nearly three dozen Italian banks.
More jobs in Australia continue to be placed on the chopping block as the axe moves to the construction industry. Kell & Rigby, one of Australia's oldest building firms, announced on Thursday the loss of 500 jobs.
The Australian stock market is perceived to maintain its current bouyant status thugging within its comfort zone range between 4,200 to 4,300 with the absence of catalysts to bring forth a major boost, analysts said.
U.S. stocks pared losses to inch higher as investors digested headlines over a Greek debt-restructuring deal that would allow the euro-zone country to avoid a default.
Rio Tinto has committed a further US$3.4 billion to the major expansion of its Pilbara iron ore operations in Western Australia.
The positive leads from U.S. markets may not impact much on local stocks especially the currency-sensitive ones with the rate pause initiated by the Reserve Bank of Australia (RBA), analysts say.
Workers in BHP Billiton's (ASX: BHP) Queensland coal mines will hold a week-long strike likely to begin Friday to protest the latest enterprise agreement offer by the mining giant. The workers, members of the Construction, Forestry, Mining and Energy Union (CFMEU), are against some of the pay and work condition provisions of BHP's offer.
Further drops in activity and new orders saw the national construction industry spend another month in the red according to the latest Australian Industry Group Australian Performance of Construction Index (Australian PCI®), in conjunction with the Housing Industry Association. The seasonally adjusted index fell by 1.2 points to 39.8 in January, marking the 20th consecutive month that the sector has contracted (readings below 50 indicate a contraction in activity).
The Australian stock market is seen to hold firm, but gains are narrowed down by the grim prospects in Greece, that has yet to settle prevailing debt concerns.
U.S. stocks drifted lower as the recent rally paused, with investors shifting focus to wrangling in Greece over fiscal austerity. The Dow Jones Industrial Average eased 38 points, or 0.3%, to 12824 as the last hour of trading approached. The Standard & Poor's 500-stock index lost 2.7 points, or 0.2%, to 1342, and the Nasdaq Composite declined 7.8 points, or 0.3%, to 2898.
World-first technology in the mining industry is contributing to better health and safety for miners, production efficiencies and improved energy consumption and environmental benefits, according to a new research.
The optimism generated by the better-than-expected US jobs is seen to redound to the stock market.Analysts are bullish that Monday's trading will record some gains benefitting from the major averages posted by the Dow Jones Industrial Average, up 1.2% to close at 12862; the S&P climbed 1.5% at 1345; and the NASDAQ advanced 1.6% to end at 2906.
The Australian stock market is off to a slow start on Friday with commodity-related stocks led by Lynas Corp (ASX: LYC), Aquarius Platinum Ltd (ASX: AQP), Atlas Iron Ltd (ASX:AGO) hitting some gains as of 10:00 AM (AEST).
FROM MORRISON SECURITIES PTY. LTDU.S. stocks rose broadly, moving to within striking distance of a multi-year high, as investors were bolstered by solid manufacturing reports around the world.
Australia's stock market had not moved in pace with the rest of the Asia-Pacific markets on Tuesday and is seen to remain flat on Wednesday's trading, but some action will push media-related stocks led by Fairfax Ltd.
The Dow was in line for a fourth straight decline after a weaker than expected reading on consumer confidence erased early gains prompted by agreements designed to address Europe's sovereign-debt issues.
The Australian Stock Market has recorded early morning gains as of 10: 16 AM, the benchmark The benchmark S&P/ASX200 index is up 22.6 points, or 0.5 per cent, at 4309, while the broader All Ordinaries index is up 23.5 points, or 0.6 per cent, at 4247.7. Analysts are optimistic of the day's trading, sharing new leads and market insights.
Toyota Australia has been compelled to let go of its 350 workers at its Altuna manufacturing plant in Melbourne over rising dollar, according to the company president.
The Environmental Protection Agency (EPA) of West Australia has granted mining giant BHP Billiton (ASX: BHP) conditional approval of its $40-billion Port Hedland expansion project.
From Morrison Securities Pty. Ltd.:
U.S. stocks edged lower, jeopardizing the Dow's four-session climb, as investors mulled the sustainability of this year's rally and watched Europe for developments connected to the region's ongoing debt issues.The Dow Jones Industrial Average fell 18.21 points, or 0.1%, to 12702 in afternoon trading.
Australian shares ended Friday on a strong note for their third successive week higher. Easing concerns about Europe's debt and more upbeat earnings from Wall Street boosted local optimism. At the close on Friday, the benchmark S&P/ASX200 index was up 24.8 points, or 0.6 per cent, at 4,239.6, while the broader All Ordinaries index was up 24.4 points, or 0.6 per cent, at 4,303.
Australia's mining industry will continue to enjoy a boom in 2012 based on production reports that resource companies released this week. Output was particularly higher for iron ore and gold resources.
The South Australian Supreme Court overturned on Tuesday a ministerial approval given to Argonaut Resources (ASX: ARE) to drill for copper, gold and iron-oxide in parts of Lake Torrens and Andamooka Island.
Cavalier Corp.'s chief executive and managing director, Wayne Chung, is set to retire from his executive role at the company, while operations manager Colin McKenzie has been tapped to take on the lead role.
