MARKETS

- Mixed quarterly production report for Oz Minerals- Copper solid, gold output lower- Earnings forecasts cut on lower gold guidance- Two brokers downgrade to Neutral ratingsBy Chris ShawSeptember quarter production from Oz Minerals ((OZL)) was mixed, with copper output largely as expected but gold p...

The volatility continued for investors today, with the local stock market attempting to recover some of yesterday's losses. The All Ordinaries Index (XAO) rose 25.3pts or 0.6pct to 4274.8, notching up its second win of the week. Sentiment was boosted by a newspaper report from the UK's The Guardian which suggested France and Germany have agreed to increase the size of the European stability fund to two trillion Euros.

The labor problems plaguing Qantas Airways for months now have given competitor Virgin Australia a wide opening to expand its market share.

Analysts and federal authorities remained optimistic on China's fiscal strength even as the world's second-largest economy slowed down in the third quarter.

China Steel has been reportedly mulling of buying stakes in various overseas coal and iron ore mines, with a $2.5 billion budget to spend, over the next four years.

Rio Tinto announced on Wednesday that it would advance the first shipment of ore from its Simandou project in Guinea to mid-2015. The earlier shipment date is because of accelerated development resulting from approval of another $211 million for continued studies and $1.117 billion funding commitment for early works and procurement of long-lead items.

Is the long tipped hard landing for China's economy about to happen?

After a decade, Kimberley's cotton growers are harvesting cotton once more. The ABC reported around 800 hectares of GM cotton will be balled up by a Queensland contract harvester next month.

The Australian sharemarket is gaining for the second time this week, with the All Ordinaries index up 0.8 pct or 34.5 pts to 4284.00. Almost all sectors are up with the exception of the gold space which is tracking lower due to weaker gold prices overnight.

- JP Morgan revises oil price expectations- Solid fundamentals to support tin prices- China under-reporting steel production- Iron ore price correction underwayBy Chris ShawWhile the global economic outlook worsens and even with Libya expected to make a rapid return to oil production, JP Morgan cont...

- Beach Energy has announced shale reserves of 300tcf in the Cooper- Broker interest is piqued, but not obsessive- Prices, costs, technology and the long timeframe are all hurdlesBy Greg PeelThree hundred trillion cubic feet.

AFTERNOON REPORT (4.30pm AEDT)Local stocks managed to erase all of yesterday's gains during Tuesday's session, with fear and caution again at the forefront of investors' minds. Overnight, sentiment wasn't helped by negative commentary from Germany's Finance Minister who warned it was unrealistic to expect a definitive solution to the European debt crisis at this weekend's European Union summit.

China's September power output continued on double-digits for an eighth consecutive month even as the world's second-largest economy reported a slowed down economic activity.

Australia's wheat inventories may surge to between 8 million and 10 million metric tonnes by Sept. 30 from as much as 7.3 million tonnes a year ago as coal-mining companies' fight for rail capacity led to transport bottlenecks in the eastern states.

Copper fell hard on Tuesday after China reported its economy grew at its slowest pace in two years and as German Chancellor Angela Merkel extinguished hopes that a plan will be announced next week geared to contain the eurozone's debt crisis and prevent a possible Greek default.

A day after G20 leaders wrapped up negotiations in Paris and came out with a five-point plan that could resolve their economic problems; Germany’s top officials announced that the Oct. 23 summit in Brussels may not produce positive results that most EU nations are expecting.

- Fortescue quarterly production report well received- Management confident in maintaining annual production rate of 55Mtpa- Brokers continue to see value at current levels- Buy ratings retainedBy Chris ShawThe September quarter production report from Fortescue Metals ((FMG)) has been well received ...

By Greg Peel"Conditions in global financial markets had continued to be very unsettled, with uncertainty increasing about both the prospects for resolution of the sovereign debt and banking problems in Europe and the outlook for global economic growth.

Analysts and mines experts had predicted prices of iron ore, Australia's most lucrative export commodity, could fall as low as $140 per tonne in the coming months.

- ANZ suggests commodities are oversold- Barclays revises its sector order of preference- Issues in oil and steel markets- Price stability needed for palladium's fundamentals to dominateBy Chris ShawHaving reviewed September quarter performance and market conditions ANZ Banking Group's Oct...

By Greg PeelThis weekly report noted last week the US Energy Commission had for sale an inventory of UF6 which it is offering below current spot pricing.

By Greg PeelThe Dow fell 246 points or 2.1% while the S&P dropped 1.9% to 1200 and the Nasdaq lost 2.0%.

The local share market has started the trading week on a strong note, with investor sentiment boosted by a raft of positive offshore news. Over the weekend, European leaders again pledged to take all necessary action to stave of the debt crisis, and work together ahead of the G20 summit in Cannes next month. Meanwhile US stocks posted their best weekly gains since March 2009 last week, boosted by strong retail sales and impressive earnings results from a number of companies, particularly Google....

Queensland Mining Corporation announced it recently discovered a new high grade copper discovery on Horseshoe ML and Duck Creek EPM. It was the first recorded discovery of high grade sulphides in the area, at its Duck Creek Project, south of Cloncurry.

The weekend conclusion of talks among Group of 20 finance chiefs, where it approved parts of a plan to contain the eurozone's debt crisis and prevent a possible Greek default, has led commodities futures, particularly copper and oil, to rise on Monday.

Speculations are brewing in the iron ore mining and steel mills industries that China has been offered to purchase the iron ore raw material for fourth-quarter contracts at a much cheaper rate.

The Australian sharemarket has kicked off the new trading week on a positive note, with the All Ordinaries index (XAO) up 1.4 pct or 59.1 pts to 4328.1. All regions of the market are improving with gains of at least 1 pct flowing through to most sectors.

By Kathleen Brooks, Research Director UK EMEA, FOREX.comThe G20 finance ministers meeting ended yesterday and (as usual) failed to tell us anything new.

(This story was originally published on October 12th. It has now been repeated to make it available to non-paying members at FNArena and to readers elsewhere).