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Todays Stockmarket update

admin — Tue, 14 Jul 2009 09:18:17 +0000

China, Stern Hu spying crisis deepens
Australia’s iron ore crisis with China threatened to take a dramatic new turn yesterday, with reports Rio Tinto had suspended spot market sales and rumours BHP Billiton may also be under investigation. Herald Sun

Todays Stock market news

CBA ‘locks out brokers’
The Commonwealth Bank has been accused of locking mortgage brokers out of the $700 billion home lending market in a bitter battle for market dominance. The Australian

Asciano boss riles investors
Asciano boss Mark Rowsthorn and his banker, UBS, will dump up to $79.8 million of the company’s stock on the sharemarket to help pay for his liability under the company’s capital raising — a deal that could reap the managing director a $6.65 million windfall. Sydney Morning Herald

Todays Stock market update

Fortescue exceeds forecast
Operations at Andrew Forrest’s Fortescue Metals Group have improved in the fourth quarter with the self-proclaimed "third force in iron ore" reporting record shipments last month and beating a previously lowered forecast. The Australian

Stock market Roundup

Investors want Bowen to act
Great Southern Investors have called on Financial Services Minister Chris Bowen to intervene in the receivership of the collapsed group, warning they had lost confidence in the "fundamentally flawed" process being run by receiver McGrathNicol. The West

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After a strong trading day, Aussie local market down again

Trader — Mon, 05 Jan 2009 11:46:00 +0000

The local market of Australia traded a strong gains during the new year’s trading. But the gains seemed to be superficial as it stumbled again led by the banking sector. On the other hand, the resources sector remained strong.

The banks were the biggest losers, dragging the market down with them.

Commonwealth Bank fell 60 cents to $28.60, Westpac declined 12 cents to $16.64, and ANZ retreated 11 cents to $15.07.

NAB fell 17 cents to $20.23 as it hosed down speculation that new chief executive Cameron Clyne may offload the bank’s UK assets.

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Westpac agrees to maintain dividend

Trader — Thu, 11 Dec 2008 12:05:00 +0000

Due to economic slowdown, Australia’s Westpac bank still promised to maintain its dividend, despite some speculation that its balance sheet growth is set to slow over the coming year.

On the wider economy, Mr Evans noted that while the Reserve Bank of Australia had cut interest rates aggressively and the federal government had begun a “sizeable” fiscal stimulus program, more is needed.

“These actions will help to offset the effects of the global slowdown but I believe more will be required,” he said.

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Aussie stocks down on G20 summit failure

Trader — Mon, 17 Nov 2008 04:57:00 +0000

The G20 summit is believed to fail to draw up specific stimulus action during its meeting in Washington, which also believed to be the reason of another fall of the stocks of Australia. The plunge was led by the banks here.

With recent economic data continuing to be worse than expected, company earnings under severe stress, and a range of equity raisings, all draining for the market, stocks are expected to stay down, F.W Holst research manager David Spry said.

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Westpac profit hits expectations

Trader — Thu, 30 Oct 2008 03:00:00 +0000

The increase of 6 percent profit on its annual gain that Westpac has recently recorded is an evidence that the bank has shrugged off the effect of slowing economy over the past six months.

And with an increase in costs held to 7%, the cash profit figure – the industry’s preferred measure of earnings – came in at the level forecast by industry analysts. That saw cash earnings per share rise almost in line at 5% to 198.3 cents a share The percentage increase for net profits was even higher, up 12%, at $3.85 billion.

Shareholders will benefit to the tune of an 8% increase in the second half dividend to 72 cents, making a total of $1.42 for the full year.

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