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Showing posts from June, 2008

Australian Stock Market News Update

Babcock & Brown (BNB) up 12% in early trading on the back of the announcement that its lenders have dropped the market cap trigger clause on its debt facility and that BNB would prepay $400m of its debt using proceeds from recent asset sales – they have also agreed an increase in the rate on their debt facility by 50 basis points which will drop on the re-establishment of their BBB credit rating. Phil Green (CEO) says “The decision by the banks underscores the strength of our business and the banks commitment to Babcock & Brown”. Macquarie follows BNB up 2.4%. The whole Babcock stable having a better day with BBP up 7% and BBI up 4.4%.Dowdown 107. Up 32 at best. Down 155 at worst. SFE Futures down 4. Dow down 14% for the year. Crude up 45% this year. Resources up. Gold up $16. Financials down the most – fell 1.3% - only insurance brokers up 1.9% in the sector. Financials down 6.5% for the week. Merrills down 1% - reported to be about to post more write downs – may sell BlackRo…

Oil prices rose to a record near $143 a barrel

Crude near $143 as stocks    go in tailspin
New York: Oil prices rose to a record near $143 a barrel on Friday as a drop in global equities markets sent fresh investors into commodities. US crude was up $3.11 at $142.75 a barrel by 1:04 pm EDT after touching a record high of $142.93 earlier. London Brent crude was $2.91 higher at $142.74 a barrel, after hitting a peak of $142.91.
   Global stocks slumped to three-month lows on concerns about the outlook for corporate profits and inflation, putting the Dow Jones industrial average on the verge of entering a bear market for the first time since 2001. “The renewed attraction of commodities as an investment vehicle is contrasting with the unattractiveness of the stock market,” analysts Ritterbusch and Associates said in a research note. “As additional traders abandon the stock market, the appeal of commodities as a trading vehicle is enhanced.”
   Oil prices have jumped over 45% this year, extending a 6-year rally, as supply struggles to…

Iron ore companies Bounce Higher

THE China-led boom will boost Australia's export revenue by at least $58 billion in the coming year, equivalent to almost $3000 for every person in the country.Chinese millers agreed to pay Anglo-Australian miner Rio Tinto up to 96.5% more for their ore supplies under long-term contract this year, the largest-ever annual increase. This is against the annual price hike of 65% by Vale of Brazil. Rio Tinto Group won as much as a 97 percent jump after renegotiationg the price of the steelmaking raw material Iron ore.The federal Government's commodity markets adviser ABARE predicted mineral exports would soar 50 per cent in 2008-09 to $178 billionFortescue rose as much as 8.9 percent, making it Australia's 10th-biggest listed company with a market value of about A$35 billion ($33 billion) Fortescue Metals rose 88 cents, or 7.5 percent, to A$12.59 at 2:18 p.m. Sydney time on the Australian exchange. It surpassed the $34.4 billion market value of Australia and New Zealand Bankin…

Bottom Feeders & Bottom pickers - todays report

Are you a bottom feeder Or may i say a Bottom picker ??Well i surely am , and i am sure many of you smart traders do exactly the same , tuck some spare cash in there for the right prices to come buy and then make a killing.The market has just bottomed out enough for my like for this share http://www.anz.com.au and i would buty at this price for a long term or even medium term benefit . Another share that was looking good at yesterday prices and maybe even todays price is http://www.westpac.com.au.WOW @ 24.93 is another pick Remember its the year ending and prices may dip a bit further at loss ( realising ) taking by many traders etc before 1 july 2008 for the financial year returnsTODAYS STOCK REPORTCAZ - CAZALY RESOURCES LTD - up 19.5 cents to 52 centsFMG - FORTESCUE METALS LTD - up 52 cents to $10.97 RIO - RIO TINTO LTD - up $3.09 to $140.15 Shares in Cazaly Resources almost doubled in value in early trade yesterday after it confirmed it had teamed with Fortescue M…

Who the tax office are targetting for 2008 - 2009

Some tips from the ato website, A couple of years ago a journalist in a metropolitan newspaper suggested—somewhat tongue-in-cheek—a new Australian holiday celebrating tax time.There was no good reason, he said, not to enjoy paying tax.
He even penned some lyrics for a festive song titled Tax Sub Clause is coming to town: They’re making a list, they’re checking the lot.
They’re going to decide if they audit or not.
For tax time this year we will be paying particular attention to:investors, particularly rental properties dividends and interest sale of investments avoiding dodgy tax schemes saving for retirement salary packages of executives and directors, and employees and their work expense claims.Rental propertiesWe’ll also be writing to some people who have been in the investment property market longer. They have been selected because they have some of the following characteristics: unusually high claims for rental deductions low rental income in relation to rental deductions hi…

ANZ Stock price drop to $1.44

National Australia Bank fell 4.1 percent to A$27.62, Commonwealth Bank was down 2.7 percent at A$41.68, ANZ dropped 1.7 percent to A$1.44 and Westpac lost 3.3 percent to A$21.51.IS IT True IS it for realis that a bargain to grab ??well forbes.com  surely believes so.check out the article here http://www.forbes.com/afxnewslimited/feeds/afx/2008/06/11/afx5107290.htmlscreenshot below