Rio Cools On China; Global Markets Plunge
The China boom is over, ended by Rio Tinto in its third quarter production review.
Companies in the News
Australian Economy
Origin Looks At 40% Earnings Gain
Origin Energy great coal seam gas bonanza continues to generate good times for shareholders.
AGL Sees Solid 2009
AGL Energy has confirmed its earning guidance for fiscal 2009, forecasting net profit after tax of between $360 million and $390 million.
CSL Sees 2009 Earnings Higher
CSL says full year earnings may rise as much as 19% because of the recent slide in the value of the Australian dollar.
Australia Market Report of October 15: Market Wild Rally to End
Yesterday, the Australian share market ended almost 4% higher in its best two-day gain since 1975, adding $42 billion to the value of stocks listed in the All Ordinaries index. As confidence was buoyed, investors rushed back to the big miners and banks and pushed the two-day rally to 9% in total. The benchmark S&P/ASX200 index was up 154.5 points, or 3.7%, at 4335.2, while the broader All Ordinaries index gained 169.6 points, or 4.09%, to 4311.5.
Midday Market Roundup 15/10/2008
The market is taking a breather after yesterday's gain – down 56 – much better than the 99 point drop predicted by the SFE Futures this morning. Down 4 at its best, down 70 at worst. Property Trusts up 3.1% after underperforming the market yesterday. Stocks hitting fresh yearly lows today include Austar, BlueScope Steel, Fairfax Media, Qantas Airways and K&S Corporation.
Boost For Aussie Economy
Two days after calming any concerns about the banks and financial institutions with a blanket guarantee and backing for the banks' offshore wholesale borrowings, the Federal Government has revealed a $10.4 billion injection into the Australian economy.
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