MARKETS

Glencore International AG, the world's biggest commodities trader, and part owner of Australian mining firm XStrata Plc has contracted HSBC Holdings Plc, JPMorgan Chase & Co. and Standard Chartered Plc as its lead underwriters bond offering in succeeding months.

The commodities futures market has shown a strong, steady performance despite the existing global market volatilities, which analysts said were still part of the crisis aftershocks.

The Australian currency continued to trade near a two-year high on Tuesday noon as a hawkish Australian interest rate outlook offset profit-taking.

The Australian bourse remained in the negative territory at Tuesday noon after receiving mixed leads from offshore trading overnight.

With a lack of economic releases during the offshore session, the markets were fairly subdued.

In an otherwise quiet session yesterday the Australian dollar managed to once again touch fresh 26-month highs.

The Chicago Fed activity index fell from -0.11 to -0.53 in August. The sub indices of employment, production and income eased in the month. Similarly the Dallas Fed manufacturing index of general business activity fell from -13.5 to -17.5 in September.

U.S. stocks lost steam in the final stretch to finish lower as Wall Street paused from a four week winning stretch even as corporate America engaged in another round of deal making.

The Australian sharemarket opens lower after the U.S. sharemarkets eased on Monday.

The Australian currency finished near a two-year high on Monday, its high-yield appeal clearly working in its advantage amid growing speculation the Reserve Bank of Australia (RBA) may lift domestic rates as soon as next week.

Australian stocks finished higher on Monday, touching a five-month high as banks surged and miners raced ahead on higher metal prices.

Dark pool trading may see more light in the Australian trading floor as demand is seen to be picking up along side in Europe.

Up to 400 hundred top level business executives from around the world are set to plane in to Sydney on Tuesday as the city hosts for the second time the annual Forbes Global CEO Conference.

Junior mining firm Murchison Metals Ltd (ASX: MMX) downplayed on Monday circulating speculations that its iron ore joint venture partner Mitsubishi Corporation of Japan is dropping out from its earlier deal with the company to develop the Oakajee Port and Rail project in midwest Western Australia.

The Australian currency traded near a two year high at Monday noon on rising equities in the region and a weaker greenback, but had drifted lower this morning's high as it consolidated.

The Australian sharemarket extended its gains at Monday noon, buoyed by financial and materials stocks and positive offshore leads from the US and Asia.

New Zealand's retail stores have a common reaction of a cautiously moderate spending in the forthcoming Fall 2010 shopping towards the Christmas season would further boost up sales.

US durable goods orders fell 1.3pct in August after a revised 0.7pct gain in July. The decline was largely due to a 40.2pct fall in non-defence aircraft spending.

Last week saw a solid performance from the Australian Dollar, gaining approximately 2.5% in value against the Greenback and closing higher yet again on Friday.

The Australian share market sets to open higher after Wall Street rallied to a four-month high.

The Australian market has finished off the week around 0.75pct weaker after the ASX 200 (XJO) index pulled back by 0.7pct or 31.7pts today.

The Australian dollar jumped against the yen on Friday amid speculation Tokyo had intervened again, while expectations of rate hikes in Australia kept the Aussie buoyant on the US currency.

Australian stocks fell on Friday and snapped a three week winning streak after edgy investors preferred to take profit as lacklustre U.S. and euro zone economic data rekindled recovery worries.

Air New Zealand informed its shareholders on the company’s annual meeting on Friday that it had a tough year for fiscal 2010 but the airline’s chairman expressed optimism that good days are ahead and recovery would accelerate come next year.

Africa-focused gold miner Gryphon Minerals Ltd (ASX: GRY) said on Friday that it raised capital of up to $45.2 million through share placement, adding that an additional $3 million would be raised via share purchase plan for total fund of $48.2 million to be utilised for fast-tracking its gold projects in West Africa.

The Australian dollar eased on Friday as soft Asian stock markets gave investors an excuse to take profits from recent gains.

Australian stocks slipped on Friday, led weaker by banking shares after a poor reading on the U.S. labour market pushed Wall Street lower overnight and eroded confidence about its recent rally.

Viterra Inc of Canada said on Friday that it would sustain the completion of the planned $110 million Minto malthouse in southwest Sydney, which was initiated by ABB Grain Ltd prior to its acquisition by the Canadian firm for $1.6 billion in September 2009.

International mining giant Rio Tinto Ltd (ASX: RIO) said on Friday that it is set to spend an estimated $242 million to add up in the initial $96 million allocated earlier this year to expand the iron ore operational capacity of the company’s Dampier Port in the Pilbara region on Western Australia.