BUSINESS

Australian Stock Market - Morning 4/3/2011

US ICSC comparable chain store sales rose 4.2pct in February from a year earlier. Luxury retailers were the standout performer with sales up 10.1pct on a year ago. US initial jobless claims fell by 20,000 to 368,000 in the past week - a 2½-year low.

US Economy: Will The Jobs Rebound Emerge Tonight

So will tonight be the night that marks the rebirth of the depressed American jobs market?That's when the US jobs and unemployment figures for February will be released.Economists are once again saying that from 160,000 to over 200,000 jobs could be created.The jobless rate fell to 9% in January as the number of new jobs was less than expected, but that was put down to the impact of the snow ...
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World Is Watching USD (And So Should You)

FNArena has added another video to its Investors Education section on the website.ATW's Jerry Simmons gives a rare insight into his weekly wrap sessions for market traders. Underlying theme is the USD should be closely watched for financial markets' direction, while the underlying trend for US equities appears to be down (short and medium term). Total duration of this educational broadcast is 53 m...

Crude Could Reach Support At 9350

By Jamie SaetteleNear term, beware of a sharp decline that drops below 9562 prior to the next leg higher. 9350 (61.8% retracement) should be strong support. “This breakout should be respected as per the measured level that intersects with the top of channel resistance in July. The Fibonacci objective is 11660. This bullish breakout scenario is valid as long as price is above 8736.”The ...

Australian Dollar Outlook 3/3/2011

Australia's GDP rose by 0.7% in Q4, marginally below expectations. The next release for Q1is widely expected to be flat, given the impact of widespread flooding throughout the summer.

The Overnight Report: Indecision

By Greg PeelThe Dow closed up 8 points or 0.1% while the S&P added 0.2% to 1308 and the Nasdaq gained 0.4%.It was a case of ups and downs on the newsflow for Wall Street last night as the buyers and sellers fought hard to stay either side of the flatline. Ahead of the opening bell the ADP private sector jobs report was released for February and showed an increase of 217,000 jobs compared to consen...

Daily Forex Forecast 03/03/2011

The Australian Dollar had a mixed day's trade onshore during Asia yesterday with a better than anticipated 0.4% increase in retail sales initially pushing the Aussie to very briefly test 1.0200.

World Market Overview 03/03/2011

The Australian sharemarket closed lower as tensions in the Middle East continued to rattle markets and spike up oil prices. The benchmark S&P/ASX200 index fell 23.2 points, or 0.48 per cent, to 4,803.2 points, while the broader All Ordinaries index was down 22.1 points, or 0.45 per cent at 4898.3.

Australian Stock Market - Morning 3/3/2011

According to the US Federal Reserve´s Beige book, economic activity continued to grow at a moderate pace in January and early February. The report also noted that retail sales increased in all 12 regional bank districts in early 2011, while some retailers had already raised prices or intend to do so in the next few months.

Exploration Spending Suggests Upside For Imdex

- Imdex a provider of drilling products and services - Reported strong interim earnings - Moelis rates stock a Buy - Upside potential from further increases in exploration spendingBy Chris ShawWestern Australian-based Imdex ((IMD)) provides drilling products and services to the minerals and oil and gas industries both in Australia and overseas, in particular supplying drilling fluids and down-hole...

Retailing: Metcash Joins The Downgraders

Metcash shares eased yesterday to an eight month low yesterday after the company cut its 2011 full year profit forecast in half.Metcash said underlying earnings growth is now expected to be in the range of 3% to 5% - down from the previously forecast 6%-8%.The group joined its bigger rival Woolworths in cutting its earnings guidance for the full year.Woolies new guidance is for earnings growth of ...

Changes: Westfield

The Lowy Family's hold on Westfield Group was eased a touch yesterday with David Lowy stepping down (along with long time director, David Gonski), and 80 year old co-founder frank Lowy stepping back to be a non-executive chairman.The news, conveyed to the market in this announcement had little impact on the securities of Westfield Group; they closed down 7c at $9.57 in a market that was weake...

Leighton's John Holland to sink railway, upgrade station in Perth

Leighton Holdings Ltd (ASX: LEI) subsidiary John Holland, in an alliance with GHD and the Public Transport Authority (PTA), has been appointed to deliver the $360 million Perth City Link rail project in the Perth CBD. John Holland expects revenues of $310 million from its share in the alliance.

Chandler Macleod, The Stand Out

- Outsourcing and recruitment company Chandler Macleod delivered a standout interim profit result - Further growth expected - Stockbroker Moelis rates stock a BuyBy Chris ShawChandler Macleod is a human resources outsourcing and recruitment company that operates on both the recruiting and contracting sides of the blue-collar, office support, technical IT, health professional and executive markets....

Australian Dollar Outlook 2/3/2011

The Australian Dollar has opened lower today after a weak night in US equities driven by renewed concern about the price of oil with a 4% rise in WTI and Brent oil.

Daily Forex Forecast - 02/03/2011

The Australian Dollar had a mixed day's trade onshore during Asia yesterday with a better than anticipated 0.4% increase in retail sales initially pushing the Aussie to very briefly test 1.0200. Markets then proceeded to gravitate down from this high and further ground was lost in the afternoon off the back of the RBA's interest rate statement.

World Market Overview Report 02/03/2011

U.S. stocks fell hard Tuesday as oil approached $100 a barrel and Federal Reserve Chairman Ben Bernanke said rising energy prices could dent the recovery. The Dow Jones Industrial Average fell 147.04 points, or 1.2%, to 12,078.30, with 24 of its 30 components in the red.

Australian Stock Market - Morning 2/3/2011

US ISM manufacturing rose from 60.8 to 61.4 in January - marking the highest reading in seven years. The new orders sub component also hit a seven year high. The employment sub index rose to its highest reading since 1973.

What Your Investment Guru Isn?t Telling You

By Alexander Green, Chief Investment Strategist Monday, February 28, 2011: Issue #1458Two weeks ago, I spoke at The World Money Show in Orlando – one of the largest investment conferences in the country. More than 11,000 investors registered to attend. (Unfortunately, the conference room was far too small. It filled up half an hour before I spoke and we ended up turning away a couple of hund...

The Overnight Report: Middle East Tensions Escalate

By Greg PeelThe Dow fell 168 points or 1.4% while the S&P lost 1.6% to 1306 and the Nasdaq lost 1.6%.The Madman of Tripoli will not go easily as hoped, and reports suggest Gaddafi's forces have regained control of oil terminals east of the capital. The UN is now applying sanctions and the US has frozen US$30bn in Libyan assets, but resolution, it appears, will not be as swift as that in Egypt.Mean...

Commodity exports: Australia will earn more

Sales from Australia's commodity exports are seen growing to $255 billion in the next 12 months to be driven by growing world demand, a report of the Bureau of Agricultural & Resource Economics & Sciences (ABARES) said today.

Oz GDP Pushes Rate Rise Further Out

- GDP up 0.7% qoq and 2.7% yoy in line with consensus- Mixed result suggests offsetting weakness in Q1- No reason for RBA to move until the second halfBy Greg PeelAustralia's gross domestic product grew by 0.7% in the December quarter over the September quarter and 2.7% over the December quarter 2009. The result represents a solid increase on the September quarter growth rate of 0.1% (revised down...

The Economy: Rates On Hold, For Now...

No rate rise from the Reserve Bank yesterday and no concern, yet about the outlook.A sort of steady as she goes statement from the Governor Glenn Stevens after the board meeting.The impact of the Queensland and Victorian floods, plus Cyclone Yasi seems not to be as big a fear as it was a month ago.Mr Stevens said, "The effects of the natural disasters over the summer have reduced output, but produ...

Higher commodity exports for Australia--study

Sales from Australia's commodity exports are seen growing to $255 billion in the next 12 months to be driven by growing world demand, a report of the Bureau of Agricultural & Resource Economics & Sciences (ABARES) said today.

Leighton Contractors secures $225M mining contract extension in Queensland

Leighton Holdings Ltd (ASX: LEI), one of Australia’s leading contracting and project development groups, says its subsidiary Leighton Contractors has been awarded a three-year contract extension valued at approximately $225 million by BHP Mitsui Coal Pty Ltd (BMC) to continue contract mining services at the Poitrel mine.

RBA keeps cash rates on hold

The Reserve Bank of Australia board has decided to leave the cash rate unchanged at 4.75 per cent at its monthly meeting today.

Australian manufacturing springs back in February

Manufacturing in Australia was back in growth territory in February with the seasonally adjusted Australian Industry Group -PwC Australian Performance of Manufacturing Index ( PMI) rising 4.4 points to 51.1.

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