- Aston continues to develop Maules Creek project- Recent share price gains see UBS downgrade on valuation grounds- Macquarie retains Outperform, see Aston as a ripe takeover targetBy Chris ShawAston Resources ((AZT)) is developing the Maules Creek coal project in the Gunnedah Basin in New South Wal...
A stock-market rally evaporated late in Thursday's session as investors fixated on Washington's debt-ceiling impasse, overshadowing better-than-expected jobs data. The Dow Jones Industrial Average finished 62.44 points lower, or 0.51%, at 12240.11, the blue-chip measure's fifth straight loss. The Standard & Poor's 500-stock index shed 4.22 points, or 0.32%, to 1300.67, led lower by telecommunications stocks. The Nasdaq Composite eked out a 1.46 gain, or 0.05%, to 2766.25.
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.
Today at 4pm Rudi and Greg will discuss, debate and argue about the local an international financial markets and how they are impacting on your investments.
FNArena has added another video to its Investors Education section on the website by ATW founder and trader Jerry Simmons.
By Greg PeelThe Dow fell 198 points or 1.6% while the S&P lost 2.0% to 1304 and the Nasdaq plummeted 2.
Markets in Asia, Europe and the US were sold down for a second day in the past three on these fears.
Rio Tinto's NSW-based majority owned subsidiary, Coal and Allied, has revealed the benefit of not being a Queensland-based coal miner and exporter in the six months to June 30.
An armed man approaches an innocent old lady on the street, shoves his gun in her face and screams, "Give me everything you own!" The little old lady, flummoxed but determined, angrily answers back, "Screw you! I'm not giving you one red cent!"
By Greg PeelQuick! Everyone running screaming back to the other side of the listing boat again!The thing about central bank interest rate moves is that they're always difficult to get right in terms of timing, but rarely are they difficult to get right in terms of direction.
US stocks fell sharply on Wednesday, in the third consecutive day of losses, as investors feared the country's debt-ceiling standoff could force a default or downgrade of US Treasury debt.
US durable goods orders fell 2.1pct in June after a 1.9pct increase in the prior month. Excluding transportation orders rose by a modest 0.1pct. A proxy for business spending - Non-defence capital goods orders excluding aircraft - slipped 0.4pct after a 1.7pct rise in May.
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.
By Greg Peel"I'm sure people are sick of hearing me say," said Glenn Stevens at the Anika Foundation address in Sydney yesterday, "Australia is in the midst of a once-in-a-century event in our terms of trade.
- Campbell Brothers lifts earnings guidance at AGM- Increase reflects strong lab testing volumes and benefits from recent acquisitions- Valuation is an issue for some stockbrokers, but Macquarie upgrades to OutperformBy Chris ShawThe laboratory services market remains strong if AGM commentary from C...
Struggling industrial conglomerate Alesco Corporation seems to have emerged from a couple of years of tough times, losses and lean profits.
US new home sales fell by 1pct to a 312,000 annual rate in June. Economists had tipped a result near 320,000. US consumer confidence surprisingly rose from 57.6 to 59.5 in July, ahead of forecasts centred on a result near 56.0.
US stocks fell Tuesday as the deadline for raising the government's debt ceiling stood just one week away, with no signs of a resolution to the bitter standoff in Washington.
- Tui has proven AWE's jewel in the crown- Tui's reserves have been downgraded by 50%- AWE now has a lot riding on shaleBy Greg PeelOne might be forgiven for assuming the Australian energy sector has provided substantial shareholder returns over the past five years, what with the price of ...
By Greg PeelIndustry consultant TradeTech noted the week before last that buying in the spot uranium market had become "highly discretionary" and that participants were expecting flat to weaker prices in the near term.
By Richard (Rick) MillsAhead of the HerdAs a general rule, the most successful man in life is the man who has the best informationThe Earth's climate has been continuously changing throughout its history.
Markets are shaky as the American political classes show the rest of the world their irresponsibility and inability to see the bigger picture, especially the so-called Tea Party newcomers in the U.S. House of Representatives.
By Greg PeelThe Dow closed down 88 points or 0.7% while the S&P lost 0.6% to 1337 and the Nasdaq was down 0.
- Regis Resources again beat expectations for quarterly production- Garden Well mine to lift output to 300koz from FY13- Quality assets, potential mine life expansion make the company an acquisition target- RBS downgrades to Hold on valuation groundsBy Chris ShawEmerging gold producer Regis Resource...
U.S. stocks fell Monday, as the deadlock in Washington's debt negotiations left investors uncertain whether the U.S. can avoid a default or a credit downgrade
Australian share closed sharply lower on concerns the US government may default if an agreement cannot be reached on raising its debt ceiling.
The Dallas Fed Manufacturing Index contracted at a slower pace in July. Business activity improved from -17.5 to -2 in July. Across the sub indices new orders, production and employment all recorded healthy gains.
Inflation and interest rates will grab the headlines in Australia this week with the all important June quarter consumer price index figures due out on Wednesday.
The coming week here and offshore will be dominated by Australian inflation, Japanese production data, the first estimate of US second quarter economic growth, and the early forecast for the UK economy, not to mention the continuing US second quarter profit season, and the start of the Australian June 30 reporting rush.
