House Prices To fall 5%-10%
In its forecast, Merrill Lynch said there were a number of positives for residential housing and prices:
Companies in the News
Australian Economy
Billabong Sees Gains From Weak Dollar
Sporting fashionwear retailer and exporter, Billabong International is feeling the conflicting winds of the global economic crunch and credit freeze, and the slumping Australian dollar.
FCL/PPT AGMS
Adelaide-based agribusiness group, Futuris Corp expects its 2009 underlying net profit to be at the lower end of market expectations.
BG Finally Bids For QGC
If we think about it, BG Group of Britain has timed its bid for Queensland Gas very nicely.
Australia Market Report of October 28: Not Volatile As Expected
The Australian sharemarket has closed at a fresh four-year low after falling more than 1% on renewed global recession fears. Investors actually had expected a much more volatile as the significant declines on Wall Street last Friday gave a negative lead to the local market. Analysts said it was not as bad as expected and the miners performed well yesterday.
Midday Market Roundup 28/10/08
The market is down 38 or 1% - would have been a lot worse if not for the big gains from metals in London overnight – Nickel up a big 11%. Property Trusts continue to struggle on capital concerns, financials also going backwards but resources outperforming led by BHP, RIO and FMG. 109 stocks in the All Ords have hit a fresh yearly low.
A Message To Other Miners
The thumping handed out to metal prices has produced conflicting market reactions for two medium-sized miners yesterday after they provided market updates.
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