MANUFACTURING

Australians campaigning for animal rights will rally across the country on Sunday, August 14, in support of legislation that will determine the future of the live export trade. This comes after the first shipment of cattle since the lifting of the live export ban to Indonesia left the Port of Darwin on Wednesday and the government announcing a new package of subsidised loans and grants to cattle producers affected by the suspension of trade.

MARKET CLOSE (4.30pm AEST)Well after the strangest of days for the Australian market yesterday, shares locally improved strongly for the second consecutive day. The ASX 200 index (XJO) rose 2.6 pct or 106.5 pts to 4141.3 while the broader All Ordinaries index (XAO) jumped 2.7 pct or 110.7 pts to 4207.4. This takes the gains for the week to just under 1 pct so far.

MIDDAY REPORT (12.30pm AEST)The Australian sharemarket is gaining for the second straight day, with the All Ordinaries index up 2.9 pct or 117.1 pts to 4213.8. Almost all sectors are higher with the exception of the property trusts, which are slightly lower at lunch.

In the wake of this week's share market meltdown, a new report from Ernst & Young reveals that the threat of higher taxes to be slapped on the the resources sector could weaken the Australian economy, which narrowly escaped the contagion of the financial crises two years ago.

MARKET CLOSE (4.30pm AEST)The Australian sharemarket had a dramatic trading Tuesday as stocks staged an amazing comeback with the ASX 200 index (XJO) up 1.2 pct or 48.7 pts to 4034.8 while the broader All Ordinaries index (XAO) rose 1 pct or 40 pts to 4096.7.

MIDDAY REPORT (12.30pm AEST)The Australian sharemarket is currently trading at its lowest level since July 2009, with the All Ordinaries index (XAO) down 4.5 pct or 181.4 pts to 3875.3. The major U.S and European markets tumbled significantly overnight, leaving us with a negative lead too difficult to shrug off.

AFTERNOON REPORT (5.20pm AEST)Stocks around the Asian region fell further into the red today as investors reacted to the decision by ratings agency Standard and Poor's to downgrade the long-term credit rating of the United States from AAA to AA+. Investors and traders remained on edge despite the Group of Seven industrial nations pledging a coordinated effort to ensure financial markets have enough liquidity.

AFTERNOON REPORT- CLOSING (4.30pm AEST)The Australian share market fell to a two year low today, as global markets were heavily sold off on fears of a renewed global economic slowdown. US markets posted their biggest one day decline in two and a half years overnight while the local market had its worst one day fall since January 2009. The All Ordinaries Index (XAO) shed 183.2pts or 4.2pct to 4169.7. The All Ords closed at a level of 4097 on the 24th July 2009.

AFTERNOON REPORT (12pm AEST)The Australian share market has fallen to its lowest level since July 2009 in early trade. Overnight European share markets slumped to 11 month lows on continued worries about European sovereign debt, while US stocks recorded their biggest one day decline in two and a half years. At lunchtime in the East, the All Ordinaries Index (XAO) is down 187.8pts or 4.3pct to 4165.1.

The national construction industry remained in the doldrums in July with further declines in activity, employment and new orders. The latest Australian Industry Group Australian Performance of Construction Index (Australian PCI®) in conjunction with the Housing Industry Association, rose just 0.3 points to 36.1. It was the 14th consecutive month of contraction for the sector (readings below 50 indicate a contraction in activity).

AFTERNOON REPORT (4.30pm AEST)The local share market came under more selling pressure today, falling to 13 month lows as investors fretted over the health of the global economy and as a fall in tourism arrivals showed our strong dollar is continuing to have a negative impact on parts of our economy. Key US jobs data due out tomorrow night also kept many out of the market, with institutional buyers not willing to commit until it's clear how many jobs the world's biggest economy added i...

NSW households wanting to cut down on their electricity bills using solar will be left in limbo for almost a year according to documents released today.

Australia has earned the new title "Next Golden State" for all the right reasons. However, is the mining sector boom benefiting all or just a few?

Australia's biggest gold producer Newcrest Mining Ltd (ASX: NCM) has reported that nine of its staff were killed in a helicopter incident in Indonesia on Wednesday.

Finding suitable and qualified tradespeople has re-emerged as a major challenge for the automotive sector in South Australia. A 2011 skill shortage survey by the state’s peak automotive industry group, the Motor Trade Association found that 69 per cent of respondents had experienced difficulty in attracting suitable people. This compares with 57 per cent the year before.

Low-cost solar power is increasingly becoming the focus of solar-cell manufacturers, new research shows.

US StocksU.S. stocks fell Friday and posted the biggest weekly decline in a year, as a blur of debt-ceiling developments left the market uncertain over the course of Washington's deadlocked negotiations. The Dow Jones Industrial Average closed down 96.87 points, or 0.79%, at 12143.24, in a volatile session that extended the index's losing streak to six straight sessions. All but two of the 30 Dow components finished in the red.

MORNING REPORT (7am AEST)The US economy grew at a 1.3pct annual pace in the June quarter, weaker than forecasts centred on a gain of 1.8pct. In addition March quarter GDP growth was revised down from 1.9pct to 0.4pct.

MIDDAY REPORT (11.45am AEST)The local share market is slightly weaker at lunchtime in the East, as the stalemate over the US debt crisis continues. A vote on the Republican plan to raise the US debt ceiling in the House of Representatives has been delayed. The All Ordinaries Index (XAO) is down 7.6pts or 0.2pct to 4531.6.

AFTERNOON REPORT (4.30pm AEST)Ongoing concerns about the US debt crisis saw markets around the Asian region heavily sold off again today. Investors remain concerned that even if US lawmakers come to an agreement over the raising of the debt ceiling, the US could still have its AAA credit rating downgraded. Japan's Nikkei index eased by 1.6pct today while the All Ordinaries Index (XAO) fell 73.4pts or 1.6pct to 4539.2 while the S&P/ASX 200 Index (XJO) eased by 73.6pts or 1.6pct to 4463.8....

Origin Energy Limited (ASX: ORG) and American partner ConocoPhillips has announced the approval of the $20 billion funding required in its liquefied gas project in Australia that targets to supply the Asian Region.

MIDDAY REPORT (12.15pm AEST)Local stocks are under heavy selling pressure in early trade, following another slump in US equities overnight and falls on the commodities markets. Wall Street recorded its biggest one day fall in nearly two months as the stalemate over raising the US debt ceiling continues. At lunchtime in the East, the All Ordinaries Index (XAO) is down 50.6pts or 1.1pct to 4562.

AFTERNOON REPORT (4.30pm AEST)Higher than expected inflation data, coupled with the ongoing stalemate over the US debt crisis, saw local stocks lose ground today. White House officials are still confident a deal to raise the US government´s borrowing power will be agreed upon before the August 2nd deadline, however the worry now is that the US could still have its AAA credit rating downgraded.

Industry groups in Australia have expressed concern as the value of the local currency surges pass the usual parity against the U.S. dollar. Is the rising Australian dollar a blessing or a curse to the domestic economy?

AFTERNOON REPORT (12pm AEST)The local share market is trading higher at lunchtime in the East, despite a negative offshore lead on continued worries over the US debt crisis. US President Barack Obama has addressed his nation within the last hour, telling Americans Democrats and Republicans have still not agreed on a solution to stop the government from defaulting on its debt repayments ahead of the August 2nd deadline. However, local stocks, which were heavily oversold yesterday, are today ...

AFTERNOON REPORT (4.30pm AEST)Local stocks rallied once again today, after Eurozone leaders agreed on a second bailout package for Greece, sending markets around the globe higher. Hopes are also rising that a deal to lift the US government's maximum borrowing power, or so-called "debt ceiling" will also be reached by the August 2nd deadline.

AFTERNOON REPORT (4.30pm AEST)Local stocks posted a slight win today, but importantly managed to hold onto yesterday's impressive gains, despite slight falls on Wall Street overnight. Sentiment was boosted by hopes European leaders will agree on a second bail-out package for Greece, while a disappointing flash read on China's manufacturing sector limited gains as markets around the Asian region fell. The All Ordinaries Index (XAO) rose 7.8pts or 0.2pct to 4626.2 while the S&P/ASX 200 ...

The Queensland government is urged to put controls on the the coal seam gas sector that has excessively consumed the state's water supply.

Midday-Lunchtime REPORT (12.15pm AEST)Local stocks are managing to hold onto yesterday's impressive gains despite small losses on Wall Street overnight. Investor sentiment has been boosted by hopes Eurozone members will agree to a second bail-out deal for Greece when they meet in Brussels later tonight. The All Ordinaries Index (XAO) is up 23.8pts or 0.5pct to 4642.