After trading in the red for part of the morning, the Australian sharemarket is now gaining for the third time in five days. The All Ordinaries index (XAO) is up 0.2 pct or 10.2 pts to 4344.6. Despite a weak start to the day, the miners and big banks are now trading in the black which is giving the broader market a boost.
Lacklustre trading is expected in Australian markets following the subdued overnight trading results in the U.S. and European markets still deeply embroiled in the debt crisis.
Bell FX Currency Outlook:
The AUD has recovered from an overnight low of USD 1.0527, to currently be holding steady around USD 1.0600, despite risk aversion trading seen overnight as concerns over the European debt crisis surface once again.
Stocks pared losses in afternoon trading Monday but remained in the red as investors focused on the standoff between Greece and its private creditors, as well as a surge in Portugal's borrowing costs.
he Australian sharemarket was unable to stage a late comeback this afternoon, with the All Ordinaries index (XAO) ending the session 0.3 pct or 14.1 pts lower to 4334.4. Almost all regions of the market ended in the red with the exception of consumer discretionary companies and the utilities.
Qatar, the world's biggest exporter of liquefied natural gas (LNG), has earmarked costs of $25 billion to support the expansion and development of its domestic petrochemical industry over the next decade.
Plans by Rosia Montana Gold Corp. to use chemical compound cyanide to dig up some 314 tonnes of gold in the village of Rosia Montana, touted as Europe's largest gold deposit, had encountered an equally interesting two-faced type of objections in Romania - one against it and the other supporting it.
Reserve Bank Governor Alan Bollard says he will not be seeking a third term for New Zealand's central bank leadership.
Despite intense calls of investigation coming from the Coalition, the Australian Federal Police (AFP) said on Monday that the information leak which preceded the Australia Day controversy did not merit a criminal investigation.
Voters' support for the Australian Labor Party surged over the past three months, according to the latest Galaxy Poll commissioned by News Ltd, but Prime Minister Julia Gillard still faces the spectre of defeat if elections were held today.
The Australian sharemarket has kicked off the new trading week with uncertainty. Shares were lower on the open, gained for the next hour of trade and have now dipped into the red once again. The All Ordinaries index (XAO) is down 0.1 pct or 4.5 pts to 4344.
Bell FX Currency Outlook:
The Australian Dollar remains fairly much unchanged after a choppy session offshore which saw a fall in US equity markets as the benchmark Dow Jones ended down 0.58% to 12,660 points.
The Australian stock market is set to mildly rebound on Monday's trading in spite the weak leads from U.S. and European markets. What are today's market leads?
From Daily Forex Markets News and Analysis (By Christopher Vecchio, Currency Analyst)
The Australian Dollar posted another strong week against the U.S. Dollar, gaining 1.60 percent the past five days. Quizzically, despite the Australian Dollar being the highest yielding major currency that we track at DailyFX, it was not the best performer this week; that title goes to the Swiss Franc
U.S. stock indexes ended mixed Friday after a reading on domestic economic growth fell short of expectations, with the Dow recording its first losing week of 2012.
Spending alone coming from the federal government will not shore up the economy in the immediate quarters ahead in light of the difficulties predicted this year by many economists.
As hard as it may be, former Victorian Premier Jeff Kennett suggested this week that Australia is not cut out to compete with the United States, Japan, South Korea and lately, China.
The office of Prime Minister Julia Gillard confirmed reports that the staff blamed for leaking her presence and that of Opposition Leader Tony Abbott during an official function for the Australia Day has resigned.
Filipino veteran broadcast journalist Daniel Razon, together with a local television channel, UNTV, as its media partner, once again made history with the recently concluded (Even for Just One Day) Kahit Isang Araw Lang: Unity Run, held Sunday, January 22, 2012, at the SM Mall of Asia grounds in Pasay City, Philippines.
The 63rd Republic Day was celebrated in India. India is a country known for its diversity, colour and vibrant and here are billions of people with so many languages, religions, customs and traditions.
The Australian sharemarket managed to improve for the second time this week and for the fourth consecutive week. Shares have improved by around 5.5 pct so far in 2012. This is a much better start to the year than back in 2011 when shares ended flat in January. The All Ordinaries index (XAO) rose by 0.4 pct or 19.4 pts to 4348.5.
The much awaited listing of Polyus Gold International Limited in the London Stock Exchange is now preceded by reports that the company is mulling merger talks with fellow Russian and rival Polymetal International PLC.
He might still be pushing for the Tent Embassy's relevance, but indigenous leader Mick Gooda has emphasized that violence is not the answer to make known their cause for the aboriginal populace in Australia.
The worsening eurozone debt crisis has prompted Australian banks to be more aggressive in cutting their exposure to the embattled continent.
In a dramatic turn of events during Australia Day, the prime minister has been reported around the world to have had a ‘Cinderella’ moment when she tumbled and lost a shoe while being dragged by security away from an angry mob of protesters.
Crocodile Gold Corp. of Canada and Petropavlovsk of Russia, just some of the world's numerous gold miners, both eye favorable production yields of the gold metal in 2012.
Westpac could follow the lead made by ANZ Bank of independence from the Reserve Bank of Australia's (RBA) overnight cash rate cuts insofar as setting of interest rates is concerned.
The Australian sharemarket was closed yesterday due to the Australia Day public holiday and is gaining for the second time this week. The All Ordinaries index (XAO) is up 0.6 pct or 28.1 pts to 4357.2. Almost all sectors are improving however companies within the consumer discretionary industry are holding the market back.
A day after revealing on Tuesday that it encountered a $40-million blowout in related construction costs at its controversial LAMP advanced materials refinery plant, Australian miner Lynas Corp. faced yet another hurdle, this time, the 2,000-page feedback it received to the application for a temporary operating license it lodged before the Malaysian Atomic Energy Licensing Board (AELB).
Two days after it downgraded global economic growth forecast, the International Monetary Fund (IMF) also cut its outlook for Australia to 3 per cent from previous forecast of 3.3 per cent.
