20 Jul 09
Be first!
Tasty Tips – Local and Global News
1. Dow rises 32 pts or 0.4% to 8743, S & P unchanged at 940. US equities ended the week with little change to Thursday’s close. Some positive earnings and housing data failed to excite investors and the Bank of America warned of more bad debts on credit cards, mortgages and business failures
2. Gold ended at $937.50 to be relatively unchanged. Other precious metals posted small gains
3. Base metals slightly higher with zinc and lead the best performers up 4.5% and 3.1% respectively
4. Oil gained $1.50 to $63.56 in response to the better US economic news and some short covering by a few traders ahead of Tuesday’s expiry of the spot contract
5. European markets rose on average of 0.5% with banks oil and mining companies the major winners
6. $AUS currently trading at 80.60 US cents
7. Spot iron ore prices break through $90 per tonne for the first time in 9 months
8. Britain’s Amec signs agreement to acquire all of GRD for $106m with a 55 cent per share cash offer
9. Royal Dutch Shell says it plans to exercise its right to take up a share of Arrow Energy’s Tipton West assets
10. VBA reportedly courting a Middle East Airline as backer to avoid seeking new capital from existing shareholders
11. Rumours again surface of a BHP/WPL tie up although neither company has indicated something is imminent
12. Australia’s CPI expected to post a modest rise in June due to increases in health insurance, rents and petrol
13. Australia’s capital markets raise a record $60b in new equity during fiscal year ending June 2009 according to figures released by KPMG
14. B & B Japan Property cuts the value of its property portfolio by 13.3% to Y125.5b
15. CIT Group does a deal with bondholders for $US3b allowing the company to avoid bankruptcy
16. Goldman Sachs have a “BUY” on MCW with “HOLDS” on KZL, ABY, HVN, WOW, WPL and AAX and a “SELL” on MIG
17. Deutsche Bank have “BUYS” on RIO, BSL, SGX and REA with “HOLDS” on ILU, KCN, NUF and BLY and a ‘SELL” on HGG
18. Citigroup have a “BUY” on MTS with a “HOLD” on MCW and “SELLS” on WOR and IFL
19. Macquarie Bank have “OUTPERFORM” recommendations on MIG and SKI with a “NEUTRAL” on MCW and an “UNDERPERFORM” on HVN
20. Lincoln Indicators says stocks like WBC, QBE, RIO and WES are in much more favourable positions after their capital raisings and tips significant improvement in operational efficiencies and business prospects for all 4
21. Djerriwarrh Investments Ltd. posts net loss of $14.08m for year ended June 30th compared to a profit of $66.68m pcp. Final div 16 cents fully franked unchanged from last year
22. Australian market up 32 pts or 0.8% to 4025 in early trade, New Zealand up 7.5 pts to 2815 in morning trade
Dow rises 32 pts or 0.4% to 8743, S & P unchanged at 940. US equities ended the week with little change to Thursday’s close. Some positive earnings and housing data failed to excite investors and the Bank of America warned of more bad debts on credit cards, mortgages and business failures
Gold ended at $937.50 to be relatively unchanged. Other precious metals posted small gains
Base metals slightly higher with zinc and lead the best performers up 4.5% and 3.1% respectively
Oil gained $1.50 to $63.56 in response to the better US economic news and some short covering by a few traders ahead of Tuesday’s expiry of the spot contract
3 Jul 09
Bright prospects for gold miners
Chris Zappone
July 2, 2009
Inflation fears may be creating a golden opportunity for investors in companies producing the precious metal, an analyst says.
The prospect of gold prices remaining high could the stage for healthy profits in the sector in the months ahead, said Wise-Owl.com equity analyst Tim Morris.
People thought gold prices would collapse when other markets recovered, he said. The fact that they’re still solid around $US930 “tells me there are genuine inflation concerns out there”.
The price of gold surpassed the $US1000 mark twice in the past 12 months, once last July and again in February, as central banks raced to contain the damage triggered by the financial crisis.
22 Jun 09
Tasty Tips – Local and Global News
Dow fell 16 pts to 8539, S & P down 3 pts to 921. Options, futures and stock index options expiry inflated turnovers on Friday. Market was easier on falling commodity prices which kept leaders below Thursday’s close. The week closed in the red the breaking a 4 week run of gains with little economic news of note
Gold rose 70 cents to $934.05 on a slightly weaker $US with other precious metals better for choice
Oil fell $1.82 to $69.55 after initial early gains spurred by unrest in Nigeria and Iran caused the contract to rally. A sell off later in the day forced the price below $70
Base metals on the LME closed with small rises in quiet trading
22 Jun 09
Kingsgate Consolidated KCN Market Recommendation by Tim Morris
Stock: Kingsgate Consolidated Ltd
Code: KCN
Market Cap: $605m
Recommendation: None
When it comes to views on the gold price, the middle ground is a fairly quiet place to be at the moment. Fence sitters are few in number. Instead the field is dominated by chronic gold bulls, often termed ‘gold bugs’, and more bearish investors who believe that after shining brightly in 2008, gold’s lustre is bound to fade as we enter an economic recovery. With the heavy weather now starting to abate, gold remains stubbornly close to record highs. The share price of Thai based gold producer Kingsgate Consolidated is also testing this important milestone. Do the two share a close bond? Or have Kingsgate’s good fortunes been driven by company specific factors?
17 Jun 09
Tasty Tips – Local and Global News Pt 2
Drillsearch advises shareholders to reject the takeover offer by Beach Petroleum > Story
Italian authorities detain 2 Japanese men at a Swiss/Italian border crossing allegedly carrying $US134b in US bonds in a suitcase in what seems to be an attempt to smuggle the bonds into Swiss banking system > Story
Competition watchdog approves WOW’s acquisition of Macro Life Pty Ltd > Story
Westpac – Melbourne Institute suggests the Australian economy will be growing in 1st half 2010 > Story
SFB
17 Jun 09
Tasty Tips – Local and Global News
*Because this is such a big post and you are looking for a specific article hit ctrl + f to open a search bar and type in what you are looking for.
Dow falls 187 pts or 2.1% to 8612, S & P down 22 pts or 2.4% to 923. Stocks turned sharply lower on disappointing figures for the New York manufacturing area. Banks were lower after reports suggested the Obama administration is likely to propose major changes to present financial regulations. A stronger $US put more pressure on equities and commodity prices as the market recorded one of the lightest days in terms of traded volume this year
Gold lost $13.20 to $927.50 dragging other precious metals lower, silver recorded another sizable loss of 84 cents to $14.03 following on from yesterday’s sharp fall
Base metals were all lower, copper falling 3.7%, zinc down 7% and lead down 8% accelerated by a the $US strength and strong indications China’s stockpiling of copper and other base metals seems to be tapering off. Copper stockpiles in Shanghai warehouses climbed to 60,647 metric tonnes last week the highest level since March 2008. An easing of prices after the big rises of late is the short term view by most analysts and traders
Oil closed at $70.55 down $1.58 mainly on the strong $US and concerns over the pace of recovery
15 Jun 09
Tasty Tips – Local and Global News
Dow gains 28 pts or 0.3% to 8799, S & P up 1.3 pts to 946. A mixed session on Friday saw indices post small gains. Bank of America gained nearly 6% on a broker upgrade saying it expects the company to repay all of its TARP loan by 2010. Other banking stocks posted 0.5% to 1.5% rises on the more optimistic broker note.
Gold fell $15.70 to $939.30 with other precious metals following suite, silver the major loser down 56 cents or 3.6% to $14.84
Base metals all lost ground with falls ranging from 0.5% to nearly 3%, aluminium and copper being the main casualties
Oil closed at $72.04 after trading above $73.00 early in the day with Chevron being the leading beneficiary (up another 1% making a gain of nearly 5% for the week)
12 Jun 09
Tasty Tips – Local and Global News
Dow rises 32 pts or 0.4% to 8770, S & P up 6 pts or 0.6% to 945, a 2009 high. Stocks ended higher with banks such as Fifth Third Bancorp and Bank of America leading major indices to close near their peaks. Interest rate concerns were allayed today as improved retail sales for May coupled with a fall in weekly unemployment claims buoyed sentiment across a range of stocks with the potential insolvency problems over the banks seemingly now negated
Gold was virtually unchanged at $955, silver recorded a small rise, palladium and platinum were flat
Base metals were all stronger up 3% to 6%, mainly on the back of a weaker $US. Tin the only exception remaining steady. Concerns by some noted analysts over the spectacular rise in copper this week overhang the market, pointing to a cautious mood for the next few trading days
Oil finished the day up $1.31 to $72.69 on an IEA forecast of stronger demand, a weak $US, and a report China’s net imports jumped to a 14 month high.
11 Jun 09
Tasty Tips – Local and Global News
Dow falls 24 pts or 0.27% to 8739, S & P down 3 pts or 0.35% to 939. Fears of rising interest rates dominated sentiment with the market down 125 pts at one stage. Energy stocks led by Exxon and utilities ended the day higher but this was offset by falls in tech issues and consumer cyclicals
Gold remained unchanged at $954.70 with other precious metals recording small upside movements
Base metals were slightly easier for choice but did not meet any serious pressure after yesterdays rises. Copper held steady
Oil gained $1.36 to $71.38, a 7 month high, on the fall in gasoline inventories and some analysts’ expectations of higher prices extending well into 2010
10 Jun 09
Tasty Tips – Local and Global News Pt 2
Dow Jones closed down 1.4 pts at 8763, S & P gained 3 pts to 942. A fairly featureless day saw the market trade in a narrow range with the main focus on banks and financials following the decision by the Federal Reserve to allow 10 major banks to repay the $US68b of capital injections made to stabilise the financial system. Rising bond yields again increased concerns of interest rate hikes but a higher earnings outlook from chip maker Texas Instruments led the broader S & P to a small gain
Gold rises $2.20 to $954.70 with other precious metals gaining between 1% and 2%
Renewed pressure on the $US pushed base metals higher with Aluminium hitting a 6 month high and Copper trading at its highest level since mid October. Falling copper inventories also helped sentiment
Oil gained $1.97 to $70.02 and traded as high as $70.44 in late floor dealings after the American Petroleum Institute said US crude inventories fell by nearly 6m barrels last week
10 Jun 09
Tasty Tips – Local and Global News
Dow rises 1.3 pts to 8764, S & P up 0.95 to 939.14. Stocks were mixed on Monday with the major indices recording little change. Banks were the main focus with most moving higher while energy stocks eased on an air of caution that the gains of recent weeks may have gone too far with the economy still in recession
Gold lost $4.30 to $950.95 with other precious metals down 1.5% to 3% on a stronger $US
Base metals were little changed except for Aluminium up 3% (new 5 month high) and nickel down 2% the main features
Oil settled at $68.09 down 35 cents after trading as high as $70 on Friday
Major European markets were lower with banks the main losers. A late rally in commodity prices helped limit the loss in mining and energy stocks
5 Jun 09
Tasty Tips – Local and Global News Pt 2
RIO announces a 21 for 40 rights issue at $28.29 in Australia and STG14 pounds in Britain to raise $15.2b and agrees to pay Chinalco a break fee of $195m. Company released an unaudited net profit of $US1.6b for the 1st quarter down from $US2.94b pcp. RIO said no interim dividend will be paid but expects to pay a 2nd half div > Story
Fears mount that HSBC could be threatened with another major hit by toxic consumer loans in the US through its subsidiary HSBC Finance Corporation
Australian construction industry continued to decline in May but at the slowest rate in 14 months, according to the Australian Industry Group/Housing Industry Association performance index > Story
Unemployment predicted to be 5.6% in May up from 5.4% in April with economists predicting a fairly sharp deterioration over the next 12 months
5 Jun 09
Tasty Tips – Local and Global News
Dow gains 74 pts or 0.85% to 8750, S & P up 11 pts or 1.15% to 942. Banks and financials on analysts’ recommendations, and energy stocks on better oil prices, led the market higher negating a weaker retail sector following disappointing sales for May. Firmer commodity prices also aided sentiment with stocks such as Alcoa and Newmont gaining 6% and 2% respectively
Gold rose $16.95 or 1.75% to $980.10 with other precious metals rising between 3.5% and 5.0%
Base metals all gained between 1% and 3.5% with aluminium the feature up nearly 5.75%
3 Jun 09
Tasty Tips – Local and Global News Pt 2
GDP for the March quarter grew 0.4% according to the Australian Bureau of Statistics
Cochlear confident of winning US approval for its new ear implant and processor
New motor vehicle sales in Australia fall 15% in May compared to pcp
GPT sells close to $560m worth of assets as the group seeks to restructure > Story
3 Jun 09
Tasty Tips – Local and Global News
Dow rises 19 pts to 8740, S & P up 2 pts to 945. Market registered a small rise on news of a positive housing report and slightly better than expected auto sales. Selling in financials later in the day limited a larger gain
Gold rose $6.65 to $981.85 with other precious metals advancing between 2.5% and 3.5%
Base metals all tended lower although losses were small with zinc recording the largest fall down 1.8%
Oil recovered early losses to close unchanged at $68.55 on a weaker $US. Initial weakness due to reports that OPEC and Russia raised output in May. > Story
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-aud-small.gif)
