The Australian sharemarket is gaining for the second consecutive session at lunch, with the All Ordinaries index (XAO) up 0.9 pct or 39.1 pts to 4245.7. The defensive healthcare and telecom services sectors are pulling back after a few hours of trade however.
Bell FX Currency Outlook:
The AUD has firmed ever so slightly in quiet overnight FX markets with little movement in most currency pairs.
Following on from an uneventful session yesterday, the Australian sharemarket rose by 1.1 pct or 45.1 pts to 4206.6 today. The defensive healthcare sector was the lone sector to lose ground for part of the session only for it to improve in the second half of the session with all other sectors.
Rising concerns on the global fiscal health of its trading partners have led China-based steel mills to adopt a cautious attitude in buying key ingredient iron ore.
Rising concerns on the global fiscal health of its trading partners have led China-based steel mills to adopt a cautious attitude in buying key ingredient iron ore.
Although it has yet to regain its footing since its end-quarter 2011 jaw-dropping fall, precious metal gold will continue as the world's most favored investment pick to cushion oneself against the maddening global financial meltdown.
Nature seems to mourn over death of North Korean leader Kim Jong-il. His passing has been marked by dropping temperatures, grieving bears and recently, by groups of magpies as reported by the Korean state media.
The Australian sharemarket is gaining for the first time this week following yesterday's flat start to trade. The All Ordinaries index (XAO) is up 0.9 pct or 36.2 pts to 4197.7 despite the lack of a decisive lead from global markets overnight. Shares in the U.S ended higher this morning while European equities (shares) finished mostly lower.
The three anti-whaling activists, Geoffrey Tuxworth, Simon Peterffy and Glen Pendlebury, who were held onboard a Japanese whaling ship will not be charged and will be turned over to Australian authorities, reports said.
U.S. stocks staged a modest advance Monday afternoon as investors weighed the unofficial kickoff of the U.S. earnings season, due with Alcoa's report after the closing bell, against a batch of unsettling headlines from Europe.
Bell FX Currency Outlook:
The AUD is slightly stronger this morning, currently trading at USD1.0240, despite concerns over the European debt crisis resurfacing once again.
Australia's carbon tax scheme is put on the limelight again after China announced last week the adoption of a carbon tax scheme effective 2015. China aims to reduce its carbon emissions by as much as 40 per cent to 45 percent by 2020.
The Australian sharemarket was quite indecisive today with shares starting off in the black, only to remain in the red for most of the session and finish the day a little lower. The All Ordinaries index (XAO) fell 0.1 pct or 3 pts to 4161.5.
Amid a plan by China to start collecting a $1.55 per tonne carbon tax, the measure is becoming more unpopular in countries and regions where it has been imposed or would soon be collected.
Years of protracted courtroom battles and political mudslinging reached their peak on Monday in Malaysia as the country's High Court issued its ruling that the country's leading opposition leader, Anwar Ibrahim, was not guilty of sodomy.
With mounting issues concerning the world's largest economy, should the United States with an estimated 231 million voters this year consider an economist as its new president?
Indian Prime Minister Manmohan Singh said in inaugurating the 99th Indian Science Congress that India's position in the world of science has been declining.
The Australian sharemarket has been unable to make up its mind this morning with shares gaining in the first hour of trade only to track lower at lunch. The All Ordinaries index (XAO) is currently down 0.3 pct or 10.6 pts to 4153.9. Almost all sectors are weaker with the industrials the biggest losers so far.
From: MORRISON SECURITIES PTY. LTD
U.S. stocks fell Friday for a second straight day as worries about Europe overshadowed a drop in U.S. unemployment to its lowest level since February 2009, but the market finished the week with strong gains.
Bell FX Currency Outlook:
The Australian Dollar has opened up this morning slightly below 1.0200, after a better than expected jobs report in the US provided further proof the US economy is improving, although, the negative sentiment from the sovereign debt woes of Europe continue to overhang the financial markets.
It certainly has been a volatile week for the Australian sharemarket. We kicked off the year in positive fashion with shares improving for two consecutive sessions. The All Ordinaries index (XAO) rose by 1.07 pct on Tuesday (the first trading day of the week) followed by a 2.03 pct improvement on Wednesday. The situation went a little pear shaped in the later part of the week though with the XAO slumping by 1.01 pct on Thursday. Shares today dropped by 0.8 pct or 32.1 pts to 4164.5.
After completing a successful 10-million tonne per annum expansion program at its Hazira plant, India's Essar group announced it will start using cheaper, low-grade iron ore fines to make steel.
Years of protracted wars and financial dangers force United States to realign military spending but will not weaken armed forces.
China's total crude steel demand for 2012 has been projected to grow 4 per cent to 700 million tons even as Chinese steel mills remain cautious to buy the commodity, the China Iron and Steel Association (CISA) said on Thursday.
An Australian government plan to brand the Anzac Day celebration has little support in the country.
China will not abide by the emissions trading scheme (ETS) of the European Union, which took effect on New Year's Day and requires polluting industries to pay specific amount of taxes.
The Australian Labor Party places great importance on industrial relations as shown by the lesser incidence of disputes under the Labor government, according to Workplace Relations Minister Bill Shorten.
India's largest iron ore producer, NMDC Ltd., is currently in negotiation talks for a $300-million coal mine acquisitions in Mozambique and Russia.
Gold jewelers in India took to a restocking binge after prices of the precious yellow metal fell due to a strengthened rupee.
After a strong year in 2011, with gains registered at roughly 15 per cent in just 12 months, gold has been forecast to average $1,850 a troy ounce for 2012 and 2013 by HSBC. The question now hangs: Is gold - long considered a safe haven to guard one's assets - still worth buying? The answer could still be yes.
