Markets blog
Shares close down 0.1pc
Australian shares have closed lower, with the S&P/ASX200 index down 6.9 points or 0.16 per cent at 4286.2, after sentiment was quelled by falls on overseas markets.
HK and China shares decline, financials weaker
Hong Kong and China shares declined on Thursday, dragged by weakness in financial stocks as investors took profits after its recent relative strength and ahead of some key earnings in the next few days.
Markets
Equities, $A stumble on economic outlook
Before the Bell | With Europe heading closer to recession and doubts about the financial future of debt-stricken Greece, there’s little buying enthusiasm ■ US stocks in the red ■ SPI down 12pnts ■ $A slips
Brazil eyes move on Australian iron ore
Exclusive | Brazilian miner Vale is examining investment in iron ore assets in Western Australia to help overcome the disadvantage of the distance between Brazil and China relative to Australia and China.
China to outshine India in gold market
China is poised to overtake India to become the world's biggest market for gold this year, thanks to soaring investment purchases of bullion and steadily rising jewellery sales, according to the World Gold Council's annual report.
World Indices
| S&P/ASX 200 | 4,286.2 | - 6.9 | - 0.16% |
| ALL ORDINARIES | 4,367.5 | - 4.6 | - 0.11% |
| S&P/ASX 100 | 3,487.7 | - 5.9 | - 0.17% |
| SMALL ORDS | 2,487.6 | + 0.5 | + 0.02% |
| Dow Jones | 12,938.67 | - 27.02 | - 0.21% |
| S&P 500 INDEX | 1,357.66 | - 4.55 | - 0.33% |
| NASDAQ COMPOSITE | 2,933.17 | - 15.40 | - 0.52% |
| Wilshire 5000 | 14,263.27 | - 54.25 | - 0.38% |
| FTSE 100 | 5,916.55 | - 11.65 | - 0.20% |
| CAC 40 INDEX | 3,447.37 | 0.00 | 0.00% |
| SMI PR | 6,192.42 | 0.00 | 0.00% |
| XETRA DAX PF | 6,843.87 | 0.00 | 0.00% |
| HANG SENG INDEX | 21,337.54 | - 211.74 | - 0.98% |
| STRAITS TIMES | 2,967.29 | - 28.30 | - 0.94% |
| NIKKEI 225 INDEX | 9,579.05 | + 25.05 | + 0.26% |
| SSE COMPOSITE/d | 2,397.13 | - 6.45 | - 0.27% |
Currencies
| AUD | USD | EUR | JPY | GBP | |
| AUD |  |
1.0645 | 0.8026 | 85.35 | 0.6791 |
| USD | 0.939 |  |
0.754 | 80.18 | 0.638 |
| EUR | 1.2449 | 1.3258 |  |
106.30 | 0.8459 |
| JPY | 0.0117 | 0.0125 | 0.0094 |  |
0.0080 |
| GBP | 1.4714 | 1.567 | 1.1815 | 125.66 |  |
Policies short on saving grace for retirees
Low global interest rates can be a nightmare if you need a revenue stream that’s somehow tied to the prevailing cost of funds.
Medicine is making Greece sicker
The efforts of Europe and the IMF to plaster over Greece’s budget problems look likely to soon lose their last vestiges of credibility.
Gonski: beyond the spin
Christopher Pyne is right when he says the highest priorities in education are teaching, curriculums and more independent school management.
Ausdrill revs up to record high
Ausdrill has achieved a net profit of $54.6 million, well ahead of its mid-range guidance of $49 million, which has fired up its share price to a record high of $4.03.
Medicine is making Greece sicker
The efforts of Europe and the IMF to plaster over Greece’s budget problems look likely to soon lose their last vestiges of credibility.
Hope flows from liquidity boost
Equity investors are clearly hoping the Greek debt deal is about to become yesterday’s news. And they’ve welcomed moves by Chinese authorities to again loosen credit constraints.
Nordic currencies stung in Europe’s debt crisis
Sweden and Norway are losing their appeal as havens from Europe’s debt crisis at a time when the krona and krone are more overvalued than at almost any point in the past 40 years.
Lazard picks, and holds, for value
For Lazard Asset Management’s Rob Osborn, the proclaimed death of “buy and hold” as an investment strategy could not be further from the truth.
Broker watch
Coca-Cola Amatil (CCL)
Citi has moved its rating on Coca-Cola Amatil to “neutral” from underperform, saying that the company’s share price appears fully valued.
NRW Holdings (NWH)
Commonwealth Bank of Australia has maintained its “buy” rating on NRW Holdings ahead of the company’s interim results, which are due on Friday.
Taking stock
Macmahon Holdings (MAH)
Macmahon Holdings is one of a group of mining services companies firmly in turnaround mode, posting an interim net profit of $23.2 million on Tuesday, a big improvement on the $13.2 million loss reported last year.
BlueScope Steel (BSL)
BlueScope Steel disappointed the market on Monday when it said it would not return its Australian manufacturing division to profitability until the last quarter of 2012.
Company News - Earnings and Reporting
Sydney Airport reports loss, gains stake
The company running Sydney Airport has reported a full year tax loss after striking a deal to sell its stake in two European airports.
HP’s Q1 earnings down 44pc
PC maker Hewlett-Packard says its net income fell, while sales fell 7 per cent in the first full quarter under new CEO Meg Whitman.
Company News - Mergers and Acquisitions
Small explorers struggle to list
The mainstay of the float market in the past three years is fading. More resource companies are withdrawing their listing applications.
Sage challenges Archer’s MYOB claims
The Sage Group says it did not renege on an agreement to buy MYOB, as the Federal Court case brought by Archer Capital prepares to go to court next month.
Equity Markets
Small explorers struggle to list
The mainstay of the float market in the past three years is fading. More resource companies are withdrawing their listing applications.
Ask the professional: Piers Watson
This global equity manager holds high hopes for the future of his asset class.
Debt Markets
Greece rushes to adopt emergency laws
Greece is scrambling to adopt emergency laws that will apply harsher cuts to wages and government spending but is facing further doubts over its financial future after Fitch cut it rating deeper into junk status.
Inside the minds of company directors
Opinion | Directors believe the vast majority of recent regulation is populist, are appalled about AGMs, and reckon M&A might strengthen in 2012, a recent survey has discovered.
Currency Markets
$A lower on equities and leadership
The Australian has fallen as equity markets softened and uncertainty surrounded the leadership of the Australian Labor Party.
CEO Q&A: Matt McCarthy
Travelex’s regional divisional director tells us how business has changed and why now is not the time to play it safe.
