Retail & Merchant Banking

Australian Market Report of December 15: Doubts over Car Maker Bailout

🕔12/15/2008 1:00:46 PM

The Australian stock market closed more than two per cent lower on Friday following weakness in United States markets caused by doubts over a rescue package for US car makers. The benchmark S&P/ASX200 index had fallen 87.6 points, or 2.43 per cent, to 3,510.4, while the broader All Ordinaries index lost 81.7 points, or 2.31 per cent, to 3,452.5. As the US Senate's rejected the $14-billion bailout for American automotive makers, the stock market is expected to continue moving downward on the negative news.

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Australian Market Report of December 12: Uncertainty over US Carmakers Rescue

🕔12/12/2008 1:00:10 PM

Yesterday the Australian shares ended lower as traders looked to make short-term gains, despite a positive start in the morning. The benchmark S&P/ASX200 share index yesterday lost 1.2%, or 42.7 points, to 3598, while the All Ordinaries index shed 1.1%, or 39.1 points, to 3534.2. But today resource stocks may gain after commodity prices advanced.

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Australian Market Report of December 11: Buoyed by Stronger Commodities

🕔12/11/2008 1:00:39 PM

Yesterday Australia's share market closed higher after surge in the mining sector. The benchmark S&P/ASX200 index yesterday ended 36.4 points or 1% higher at 3640.7, while the broader All Ordinaries was up 39.6 points, or 1.1%, at 3,573.3. The stronger commodity prices for gold and oil overnight may further buoy the stocks market which has been oversold.

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Australian Market Report of December 10: More Companies Need Capital Raising

🕔12/10/2008 1:00:41 PM

Yesterday Australian market closed lowered as banks stocks plunged after Westpac(ASX:WBC) announced its A$2.5 billion capital raising. The benchmark S&P/ASX200 index had lost 27.3 points or 0.75 per cent to 3604.3, while the broader All Ordinaries was down 20.1 points or 0.57 per cent at 3533.7. Analysts expect more companies such as Commonwealth Bank(ASX:CBA) may also have to raise capital.

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Adamus Resources Limited (ASX:ADU) Secures A$5 million Convertible Loan Facility With Macquarie Bank

🕔12/4/2008 12:24:07 PM

Adamus Resources Limited (ASX:ADU)(CVE:ADU)(PINK:ARLTF) is pleased to announce that it has secured a $5 million convertible loan facility (the Facility) from Macquarie Bank Limited (ASX:MQG)(Macquarie). The key terms and conditions of the facility are summarised below.

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Australian Market Report of December 3: A Day with Good News

🕔12/3/2008 1:00:55 PM

Yesterday the Australia market closed lower dragged by resource sector although the central bank's aggressive rate cut of 100 basis points lifted some sentiment in late trading. The benchmark S&P/ASX200 index closed down 153 points, or 4.16 per cent, at 3,528.2, while the broader All Ordinaries index was 145.6 points, or 4.02 per cent, lower at 3,473.4. Analysts anticipate a rise today in local market with positive lead from the US and the RBA rate cut.

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Australian Market Report of November 7: More Dangers Ahead

🕔11/7/2008 1:00:45 PM

Overnight US stocks plummeted for a second day with a 4.85% drop as global markets plunged on fears of a deep worldwide recession. Yesterday the 150 basis points interest rate cut of Britain also surprised the market. Economists and analysts questioned the need for such a big cut and believe the economy must be in seriously risk with more dangers ahead. Investors ignored big interest rate cuts in Europe to send markets into steep falls overnight. The key Asian indicators also dropped more than 6.5 percent and wiping out much of the previous rally that had preceded the presidential election in the United States.

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