Skip to main content

Australian business confidence last month slumped to its weakest in seven years

Australia's business confidence index dropped to minus 9 points from minus 4 in May, according to a National Australia survey of 335 companies, as cooling domestic demand and spiraling raw-material costs eroded corporate profits.

The rise in oil prices is trying to do what the credit crunch so far has failed to do, and that's tip the world into recession. So now you've got these two crises hitting at the same time.''

S&P reduced Sydney-based GPT's credit rating one level to BBB, the second-lowest investment grade ranking, from BBB+, after the company cut its profit estimate by 27 percent GPT. Its shares slumped 11 percent to A$1.87, their lowest since 1984.

Valad Property Group, another real estate investment trust, tumbled 14 percent to a record low 54 cents, while Mirvac Group lost 13 percent to a record low A$2.39

Nex Metals Exploration Ltd. (NME AU), an Australian metals explorer, rose 11 cents, or a record 41 percent, to 38 cents, after saying it continues to explore opportunities in southeast Asia and that it's had, and continues to have, ``discussions with a number of parties with respect to various projects.''

Oil and gas companies may help sustain record mining and energy investment in Australia, the world's biggest shipper of coal and iron ore, until 2023 because of demand from China, according to forecaster BIS Shrapnel Pty.

Energy investment is growing strongly because of record prices and increased exploration, the Sydney-based business research and forecasting company said today in an e-mailed statement. The nation's mining spending rose 22 percent to A$41.5 billion ($40 billion) in the 12 months ended June 30, it said.

Commodities are in their seventh year of gains and the so- called commodities ``super cycle'' may last another 15 years, according to Merrill Lynch & Co. The global commodities boom has spurred record profits and stock price gains for producers such as BHP Billiton Ltd. and Woodside Petroleum Ltd.


Popular posts from this blog

List of Australian blue chip stocks

Australian shares gained 0.6 percent on Wednesday led by blue chip miners and financials on strong resource price

The biggest Blur chip stocks traded on the ASX, in terms of their market capitalisation, include:
BHP BillitonCommonwealth Bank of AustraliaTelstra CorporationRio TintoNational Australia BankAustralia and New Zealand Banking GroupRio tintoWestpac
The only stock to do worse than the S&P/ASX 200 is Harvey Norman Holdings Ltd [ASX: HVN]. Even so, it’s a better-than-the-bank 8.3% gain. The others have done much better: Qantas [ASX: QAN] up 36.1%; JB Hi-Fi [ASX: JBH] up 20.5%; Toll Holdings [ASX: TOL] up 25.3%; and Myer Holdings [ASX: MYR] up 37.1%. The benchmark S&P/ASX 200 index rose 27.1 points to trade at 4,977.3 by 2310 GMT. It fell 0.8 percent on Tuesday, its lowest close since February 7.

Best Australian stock forums online ( finance forums)

Many traders and investors use forums to share ideas, learn from the more experienced, or simply to stave off boredom during long hours at the computer. Here we list the known universe of forums, complete with costs, member numbers, extra benefits and popular forum topics. Please post a message on Your 2 Cents if your favourite forum isn't listed here, or if you feel that there's more to add about the day-to-day goings on in your online community.Forum
Stock comps
Forum areas
AussieStockForums.comFreeASX by share code, General, Beginners, Derivatives, Commodities, International, Strategies/SystemsEasy to use, independent forum. Aussie Stock Forums has a group of very active and knowledgeable traders. Private messaging available. Australian forum.
Chimes in ExileFreeASX stocks, fundamental analysis, technical analysis, commodities, economics, investment tools The forum has a small group of regular contributors that form a genuine community of investor…

The diggers and dealers forum meet 2011

The diggers and dealers forum has just begun August 1. Its a three day annual event happening every year  at the WA country town of kalgoorlie.2011 Diggers & Dealers forumBig name brokers  keenly watching the event will be MacquarieDeutsche BankBell PotterGoldman SachsRBS MorgansEvans & PartnersHartleysBlack Swan Euroz.Well most other websites will give you the  finer details of the annual meet and greet that happens at kalgoorlie , so we will just stick with the bare minimum of details  and focus on the more enjoyable bits  of information that the dealers require to strike a good deal while in town.Bare detailsWebsite : Diggers & DealersEvents : Program and scheduleWatering holes and entertainment at Diggers and dealers forumPubs , clubs  and skimpy (barmaids) culture in kalgoorlie . There are about 25 pubs in Kalgoorlie-Boulder area and for a city that stretches just 67sq km the number of pubs makes for  a good choice on drinking holesand entertainmentExchange Hotel ( Pa…