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China's Attempt to Control Rare Earths Causes Prices to Drop 133%

Attempts to cement the state-government's local dominance exporting the rare elements mostly used in today's electronic gadgets, seemed to backfire as local industry members have dumped its inventory in the market causing prices to skid its early highs of RMB 300,000 per ton in a matter of weeks.

Job Ads in Australia Ease Further in October

Job advertisements in both print and the internet across Australia continued its decline in October, easing 0.7 percent month-on-month and 1.8 percent, y-o-y, according to the latest ANZ survey.

Australian Stock Market Report - Midday 11/07/2011

The Australian sharemarket is losing ground for the fifth time in six days with the All Ordinaries index (XAO) down 0.4 pct or 16.8 pts to 4325.7. Most sectors are weaker with the exception of the defensive healthcare sector, the telcos and the Information technology (IT) sector which is gaining strongly.

Australian Dollar Outlook - 11/07/2011

Bell FX Currency Outlook: The AUD has opened just above 1.0410 as the financial world follows the developments in Europe. The Greek Prime Minister George Papandreou agreed to step down as leader to form coalition government while the G-20 summit concluded without agreement to use IMF SDR funding to fund the EFSF.

Gold To Advance Further As Fed Dampens Demands For USD

Gold advance to a fresh monthly high of $1768/oz as market participants diversified away from the U.S. dollar, and the bullion may continue to retrace the sharp selloff from back in September as the Federal Reserve casts a weakened outlook for the world's largest economy.

Global Markets Overview - 11/07/2011

U.S. stocks capped their first weekly loss since September with a drop on Friday, as Europe's sovereign-debt problems overshadowed a small gain in U.S. employment. The Dow Jones Industrial Average shed 61.23 points, or 0.51%, to 11983.24, and snapped a streak of five weekly gains. The Standard & Poor's 500-stock index shed 7.92 points, or 0.63%, to 1253.23, ending its own weekly winning streak at four.

Australian Stock Market Report - Morning 11/07/2011

MORNING REPORT (7am AEDT)US non-farm payrolls (employment) rose by 80,000 in October, short of forecasts for a gain of 95,000 jobs. But there were sharp upward revisions to August and September data, adding 102,000 jobs. The jobless rate fell from 9.1pct to 9.0pct and average weekly hours were unchanged at 34.3 hours.

Australian Defence Secrets on USB Device Stolen

Secret Defense documents of Australia's most senior commander in the Middle East, Major-General John Cantwell, were contained in a USB drive that was stolen from his aide's checked in bag at Kuwait's airport on February 28, according to a report on the investigation of the incident.

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