The Australian sharemarket is completely flat at lunch with the All Ordinaries index (XAO) sitting at 4333.2 pts. Most sectors are currently pulling back, however the mining sector (the market's second largest sector behind the financials) is a touch higher while the energy sector and industrials are also slightly higher.
The Australian stock market is off to a slow start on Friday with commodity-related stocks led by Lynas Corp (ASX: LYC), Aquarius Platinum Ltd (ASX: AQP), Atlas Iron Ltd (ASX:AGO) hitting some gains as of 10:00 AM (AEST).
Bell FX Currency Outlook: The local unit maintained momentum overnight touching a high against the US dollar of USD1.0745 to open above USD1.0700 this
morning.
The Dow industrials fell, on pace to decline for a fifth time in six sessions, as mixed quarterly earnings curbed sentiment ahead of Friday's readings on jobs.
India has increased the base prices on gold and silver for travellers and individuals who import small quantities of the precious metals.
The Australian sharemarket improved for the first time in four days today and has effectively wiped out most of this week's losses. The All Ordinaries index (XAO) gained 1 pct or 42.2 pts to 4333.2 with all sectors bar the healthcare companies ending higher.
Molibdenos y Metales S.A. (Molymet) of Chile, the world's largest processor of the strategic metals molybdenum and rhenium, on Thursday signed an agreement to invest $390 million in Molycorp Inc.
Australians are following keenly the entry of mining billionaire Gina Rinehart into Fairfax after she became the biggest shareholder with her purchase of a 14 per cent share. They are even anticipating a clash between Australia's richest woman and Roger Corbett, chairman of the publisher, over major national issues such as the mining tax and carbon tax.
Scuttled in an emotionally-charged national elections year, yet impinging on the flow of foreign direct investments, Malaysian authorities through its Atomic Energy Licencing Board (AELB) and the Science, Technology and Innovation Ministry (Mosti) has granted the Australian mining firm Lynas the highly coveted temporary operating licence (TOL) to proceed with the controversial $200 million rare earths processing plant in the province of Gebeng, Kuantan.
It looks like Afghanistan and Pakistan will go hand in hand for peace and security as the two countries have declared support for each other.
Australian shares have rebounded from yesterday's sell-off in early trade, following positive offshore leads. US and European markets rose overnight on solid economic data and on hopes the world's largest social media network, Facebook, would file for listing on the US share market. At lunchtime in the East, the All Ordinaries Index (XAO) is up 53.5pts or 1.2pct to 4344.5.
The Federal Government is urged by the Actuaries Institute in its pre-budget submission to address two national priorities in the coming Budget: removing barriers to allow ageing Australia to better prepare for retirement with realistic annuity options; and creating a temporary national insurance pool for high flood-risk properties.
New Zealand has become too Auckland-centric, said the mayor of Invercargill, TVNZ reported. After the birth of a baby girl in Middlemore Hospital Wednesday morning, experts said Auckland has reached 1.5 million in population, and Invercargill mayor Tim Shadbolt is not pleased.
Bell FX Currency Outlook: The recent rally in the AUD was further extended overnight with the local unit pushing back through USD1.0700.
FROM MORRISON SECURITIES PTY. LTDU.S. stocks rose broadly, moving to within striking distance of a multi-year high, as investors were bolstered by solid manufacturing reports around the world.
The Australian sharemarket kicked off the new month in a less than desirable manner with shares losing ground for the third consecutive day today. Despite this week's losses, remember that January marked the best start to a new year since 1994 with shares rising by more than 5 pct and improving for four straight weeks. Today, the All Ordinaries index (XAO) fell 0.8 pct or 34.7 pts to 4291.0.
Venezuela, in a series of operations that started in November 2011, had finally completed the repatriation of its $9 billion gold reserves that were withdrawn from various foreign overseas banks.
Investors have been advised to just sit back and relax, but continue to adopt a cautionary stance, after two conflicting sets of Purchasing Managers Index (PMI) on China were revealed on Wednesday which could send premature jitters to the world economy.
U.S. Secretary of State Hillary Clinton blamed the spotty connection in Australia for her failure to get in touch with Russian Foreign Minister Sergei Lavrov.
If for anything, the recently concluded weeklong Lunar New Year holiday helped propel prices of gold in the Asian trading floor to rise on Tuesday, prompted by China's holiday bingeing of the precious yellow metal.
Coles' latest ploy of imposing steep discounts on fresh produce being sold on its numerous stores could backfire and drive many Australian farmers out of business.
The ongoing price war between Australian supermarket giants Coles and Woolworths has led some MPs to seek a major amendment to the country's competition law. The legislators warned that the short-term benefits shoppers get from a 50 per cent price reduction on fruits and vegetables sold by Coles could mean disaster for the agriculture sector.
The Australian sharemarket is losing a little ground for the third straight session, with the All Ordinaries index (XAO) down 0.3 pct or 13.4 pts to 4312.3. Most sectors are currently trading in the red however the retail, healthcare and telco sectors are all edging higher.
The Australian government will make true of its pledge to realise a budget surplus by 2013, notwithstanding the challenges this year that economists said could plunge key economies into recession, specifically in Europe.
On 2 September 2011, the High Court granted special leave for Bendigo TAFE to appeal the majority decision of the Full Federal Court in the matter of Barclay v The Board of Bendigo Regional Institute of Technical and Further Education [2011].
Bell FX Currency Outlook: The Australian Dollar continued to outperform overnight on news that European leaders have agreed to a new fiscal pact and a permanent bailout plan for the Euro zone.
Australia's stock market had not moved in pace with the rest of the Asia-Pacific markets on Tuesday and is seen to remain flat on Wednesday's trading, but some action will push media-related stocks led by Fairfax Ltd.
The Dow was in line for a fourth straight decline after a weaker than expected reading on consumer confidence erased early gains prompted by agreements designed to address Europe's sovereign-debt issues.
New Zealand Prime Minister John Key met Australia's Prime Minister Julia Gillard over the weekend to discuss, among other things, the plight of New Zealanders seeking to start a new life in Australia.
The World Trade Organisation (WTO) said on Monday that China violated global trade regulations when it restricted the shipments of nine materials that were crucial in the production activities of steel, aluminium and chemical industries in a number of nations.
