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BHP Billiton Limited
ASX:BHP ISIN:AU000000BHP4
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News
Today Asian stocks are set to rise after Wall Street rallied Friday, boosted by US upbeat jobs data. Asian markets broadly gained on Friday. Tokyo stocks advanced 2.2 per cent on expectations that the Japanese central bank may ease its monetary policy further. Shanghai and Hong Kong markets also powered higher on hope of China's moderately loose policies and an 8 per cent economic growth target this year. Shanghai Composite was up 0.25 per cent, and Hang Seng Index gained 1 per cent. South Korea's Kospi climbed 1 per cent.
Iron Road Limited (ASX:IRD) is pleased to announce that significant progress has been made at the Gawler Iron Project in South Australia. Planned commencement Company's maiden drilling programme at Gawler remains within Q1 2010.
In Asia, China's unexpected announcement that it will increase the reserve-requirement ratio would fuel worries over the global economy recovery, but thin trading is expected today as most markets including mainland China, Hong Kong, Taiwan, Vietnam, South Korea and Singapore will be closed for Lunar New Year holiday. Japan's exporters will be supported by weaker yen. Japan's gross domestic product data, released by the Cabinet Office on Monday, showed that the country's economy grew at a faster than expected pace in the October-December quarter.
Australian shares gave up early gains after disappointing trade numbers from China raised concerns that Chinese economy is cooling. The market closed slightly higher as earnings reports from market heavyweights BHP Billiton and Commonwealth Bank helped the rise. At the close, the benchmark S&P/ASX200 index was 8.3 points higher, or 0.2 per cent, at 4513.4. The broader All Ordinaries index rose 12.3 points, or 0.3 per cent, to 4533.
The last trading day of January ended with a sharp loss on Friday. Australian shares plunged more than 2 per cent while the market was clouded with negative sentiment. At the close, the benchmark S&P/ASX200 index was down 103.7 points, or 2.2 per cent, to 4569.6, while the broader All Ordinaries index fell 100.8 points, or 2.1 per cent, to 4596.9. For the month, a 6.2 per cent, or A$85 billion in value, was wiped off from the market.
Wall Street slumped sharply on Thursday after disappointing earnings reports and news of China's further tightening bank lending. The US dollar soared to one month high against a basket of currencies while investors shifted to haven.
Wall Street rebounded on Tuesday to close at new 15-month highs. Health care sector rallied as investors bet that the outcome of a Senate race in Massachusetts might make it harder for President Barack Obama's health-insurance reforms.
The Australian sharemarket closed lower on Tuesday led by financial stocks as investors were nervous ahead of earnings reports by US banks. At the close, the benchmark S&P/ASX200 index lost 49.9 points, or 1 per cent at 4861.2, while the broader All Ordinaries index fell 46.5 points, or 1 per cent, at 4889.6.
Otto Energy Limited (ASX:OEL) (PINK:OTTEF) advises that it has entered into a seismic acquisition and farm in option agreement in respect to its SC55 permit in the Philippines with BHP Billiton (BHPB).
The Australian share market lost much of its early gains after NAB's surprise bid for the local and New Zealand assets of AXA Asia Pacific Holdings. Woodside's capital raising also gave the market a pullback. At the close, the local market was slightly higher. The benchmark S&P/ASX200 index closed up 8.4 points, or 0.18 per cent, at 4670.3 points, while the broader All Ordinaries index gained 13.5 points, or 0.29 per cent, to 4689.6 points.
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