Insurance Australia Group (ASX:IAG), Australia's top home and car insurer, has revised its FY11 insurance margin guidance down to 8 to 10 per cent from 9 per cent to 11 per cent in the wake of the disastrous event in Christchurch, New Zealand.
Australia's latest Bureau of Statistics report on wages showed workers in private companies have had pay increases in the last two quarters.
- Mirvac interim result better than expected - Forecasts lifted in line with guidance update - Recommendation upgrades on relative valueBy Chris ShawProperty development group Mirvac ((MGR)) delivered an interim operating profit of $200.1 million, a result boosted by higher net operating income and lower interest charges and showing better than expected numbers from the investment management and h...
- Producer's hedging their precious metals prices is making a return- So far the come-back appears limited to by-product producers - This favours gold over silver this year Why Hedging Isn’t a Dirty Word for Precious Metals Anymore…By Tony D’Altorio , Investment U Research Tuesday, February 22, 2011For years, hedging was a dirty word among gold and silver miners. It meant they h...
The Australian Dollar has opened weaker this morning, currently trading around the parity level after trading to a low of 0.9970 in the offshore session.
The Aussie opens lower today at 0.9975 after another session of risk aversion on speculation political unrest in the Middle East and North Africa will intensify.
The Standard & Poor's 500 stock index posted its biggest intraday drop of the year Tuesday as escalating tensions in the Middle East and North Africa sent oil prices soaring.
US consumer confidence rose from 64.8 to 70.4 in February - marking the highest reading in three years and well ahead of analyst expectations.
(This story was first published on February 15, 2011. It has now been re-published to make it available to non-paying members at FNArena and to readers elsewhere).-Egypt is not responsible for the spread between WTI crude oil and European Brent- West Texan Intermediate has lost its relevance because of specific circumstances- Crude oil in most other price benchmarks is priced around US$100 per bar...
(This story was first published on February 15, 2011. It has now been re-published to make it available to non-paying members at FNArena and to readers elsewhere).-Egypt is not responsible for the spread between WTI crude oil and European Brent- West Texan Intermediate has lost its relevance because of specific circumstances- Crude oil in most other price benchmarks is priced around US$100 per bar...
By Greg PeelFNArena's thoughts and best wishes go out to our mates across the ditch at this time.The Dow fell 178 points or 1.4% while the S&P dropped 2.1% to 1315 and the Nasdaq shed 2.7%.The two juxtaposed images which were most stark to me over the past 24 hours are that of an idiot sitting in a car with an umbrella to prove he was still in Tripoli and that of two Libyan fighter planes landing ...
By Greg PeelFNArena's thoughts and best wishes go out to our mates across the ditch at this time.The Dow fell 178 points or 1.4% while the S&P dropped 2.1% to 1315 and the Nasdaq shed 2.7%.The two juxtaposed images which were most stark to me over the past 24 hours are that of an idiot sitting in a car with an umbrella to prove he was still in Tripoli and that of two Libyan fighter planes landing ...
Business conditions softened noticeably again in the December quarter under the weight of sagging profitability and ahead of the impact of the January floods in Queensland and northern Victoria, and Cyclone Yasi at the turn of the month and early February.Business confidence fell back in the December quarter, all but returning to its mid-year softness.The National Australia Bank business survey fo...
Is the US economy really on the rise? Are American consumers becoming more gung-hoed and spending on lattes and other luxuries given up during the downturn?
The New Zealand dollar was shaken and dropped for the first time in five days after an earthquake hit the city of Christchurch, destroying parts of the central business district and cutting off some telecommunication lines connecting the city.
Christchurch City in New Zealand was devastated by another earthquake with a 6.3 magnitude that sent residents into panic as aftershocks were strong.
Humanis Group Ltd (ASX: HUM) has entered into a binding share sale agreement with Springsure Mining Pty Ltd in which Humanis will acquire approximately 49 per cent of the issued capital of Springsure.
The Virgin Blue Group of Airlines (ASX: VBA) has ceased services to the New Zealand city of Christchurch today in the aftermath of the earthquake that has caused wide-spread damage.
Resource giant BHP Billiton (ASX: BHP) has agreed to acquire all of Chesapeake Energy Corporation's (Chesapeake) interests in the Fayetteville Shale, USA, including the midstream pipeline system, for US$4.75 billion, which BHP Billiton expects to fund from the Group's cash resources.
Vix Technology, which manages the technology for metcard and numerous international transport ticketing systems, has offered the Victorian government a replacement for myki that will not cost taxpayers or government an extra cent.
Australia's third largest mining firm Rio Tinto has announced that production at its coastal operations in the Pilbara region continue to be hampered by ongoing weather issues associated with Tropical Cyclones (TC) Dianne and Carlos, that are likely to impact on shipped tonnage for the first quarter of this year.
Hundreds of people have gathered on the Sydney Harbour foreshore to welcome massive ocean liners as they arrived today. Cunard’s newest ocean liner, Queen Elizabeth, arrived in Sydney for the first time this morning, following her larger sister, Queen Mary 2.
-Fantastic Holdings interim result better than expected - Company is addressing issues that have overhung the stock - Brokers upgrade to Buy ratingsBy Chris ShawThree brokers in the FNArena database -Macquarie, JP Morgan and Credit Suisse- provide coverage on furniture retailer Fantastic Holdings ((FAN)) and post the company's interim result all three have upgraded to the equivalent of Buy ratings...
By Greg PeelIt is the nature of commodity price movements that a sharp run-up, particularly one tracing out a parabolic curve, can be quickly followed by a sharp sell-off. These “blow-off tops” occur when the herd is running too wild to the upside and someone finally decides enough is enough. Panic profit-taking transpires.Spot uranium had run from the low forties to US$73/lb a couple ...
By Greg PeelIt is the nature of commodity price movements that a sharp run-up, particularly one tracing out a parabolic curve, can be quickly followed by a sharp sell-off. These “blow-off tops” occur when the herd is running too wild to the upside and someone finally decides enough is enough. Panic profit-taking transpires.Spot uranium had run from the low forties to US$73/lb a couple ...
-Fantastic Holdings interim result better than expected - Company is addressing issues that have overhung the stock - Brokers upgrade to Buy ratingsBy Chris ShawThree brokers in the FNArena database -Macquarie, JP Morgan and Credit Suisse- provide coverage on furniture retailer Fantastic Holdings ((FAN)) and post the company's interim result all three have upgraded to the equivalent of Buy ratings...
The Markit composite purchasing-managers index for the Euro Zone rose from 57.0 to 58.4 in February - well ahead of expectations and its highest levels since July 2006. The Munich based IFO Institute said its German business confidence index rose from 110.3 to 111.2 in February.
the dollar drifted off its lows for the day late in the European session with concerns over political upheaval in the Middle East, and Libya in particular, weighing even as activity slowed as the U.S. marked a public holiday. The euro, which had set a session high of $1.3727 after strong German economic data, began a gentle decline as the afternoon wore on, falling as low as $1.3647 and then rangebound in the mid $1.36 area.
Despite a hasty retreat from a lofty 101.50 US cents during Monday’s domestic session, the Australian Dollar has consolidated itself above parity against the greenback for the time being. In the absence of any local data, the unit was capped as some confidence was eroded after further policy tightening by China which threatens to reduce demand for Australian exports.
- Algae.Tec to list in Frankfurt, giving it access to the NYSE- Demonstration plant now under construction By Greg PeelAlgae.Tec ((AEB)) is the first company in the world to move towards commercialisation of algae-driven carbon capture and alternative energy production and is also first to market in employing patented technology in a modular system. Shares in Algae.Tec listed on the ASX on January...
