Murchison Metals Limited (ASX:MMX) (PINK:MUMTF) is pleased to announce that Wayne Zekulich has been appointed Chief Financial Officer of Oakajee Port & Rail (OPR), developer of port and rail infrastructure for the mining industry in Western Australia's mid-west. OPR is jointly owned by Murchison and Mitsubishi Development Pty Ltd.
All the economic news that matters, is good. China is performing strong, USA and Europe are improving all the time. There is no doubt after the great rally we have seen from last year that a correction was due, but the fear mongers have been served a great opportunity with Egypt, and are making the most of it. The thing is, I don't see China slowing because of a change of government in Egypt, i really don't, buy this dip, its a gift comments Clifford Bennett of Herston Economics.
Equity markets continue to climb, gold may well have bottomed for the year, and the RBA is sidelined. Clifford Bennett of Herston Economics talks about why higher food prices do not mean rate hikes, and the outlook for Australian equities remains very favourable.
This rally is just the start of something much bigger, says Clifford Bennett of Herston Economics. While Gold and Oil speculators unwind their holdings, the real world is experiencing a rapid economic expansion of the likes we have never seen before. The dominant risk in equity markets is upward acceleration, no correction in sight. The Australian dollar has spent enough time near parity, time to move up.
The US has stitched up some good export deals to China, so now we should get less of the US research houses fictionally suggesting China is a bubble. US, European and China/Asia outlooks all positive at the same time as we expected, and this should see markets accelerate sharply higher this week, Clifford Bennett of Herston Economics said.
The Dow Jones and US markets have been very firm over last couple of trading sessions as well as the economic data overnight and existing home sales were better than expected. US jobless claims dropped down approximately 400,000, with a lower sustainable trend showing the US economy is looking better.
Any pullback in the Australian market today is an extraordinary opportunity to again buy for further market gains into the week end. Concerns overnight regarding UK employment, US housing starts, Apple, and Goldman Sachs, all of little relevance to the Australian market place. Stocks like Fortescue continue to point the way, and the Australian dollar is heading to 1.03 1.08 this year, according to Clifford Bennett of Herston Economics.
