RBA Board Minutes: No Change, But That Was Before Lehman
Consider this: if the Reserve Bank board had been meeting yesterday, how much of a rate cut do you reckon we would have received at 2.30 pm?
Companies in the News
Australian Economy
Tough Call For Fed: No Move, But Worried
The Fed didn't make a surprise rate cut overnight, unlike almost a year ago when it gave us rthe first of seven successive cuts as the credit crunch was born.
Markets: AIG Is The Key
Forget the markets, sorry, forget the movement of the Dow, the Footsie and the ASX200 and the Nikkei.
Asia Down, China Cuts
Asian markets were hit again by nervousness over the Lehman Brothers collapse and question marks over the health of other big names on Wall Street.
BHP Still Upbeat
BHP Billiton remains confident that demand for its commodities will remain strong, despite also expecting markets to remain volatile over the short term.
Australia Market Report of September 16: Lehman's Collapse Trigger Big Falls
Wall St closed down over 4% overnight as the US investment bank Lehman Brothers filing for bankruptcy. Yesterday, with rumours surrounding Lehman Brothers yet to be confirmed, the Australian share market finished down over 1.5 per cent. Analysts expect the Australian dollar may fall even further today with negative lead from Lehman Brothers demise and the fire sale of Merrill Lynch.
Midday Market Roundup 16/09/2008
The market is having another shocker – down 2.6% or 124 points – on the back of record falls on Wall Street overnight after Lehman Brothers filed for bankruptcy. The Dow's 504.48 fall overnight was the worst one session point drop since September 17, 2001, the first day of trading after 9/11. It was also the 6th largest point drop ever, just behind the 508 it fell in the October 1987 crash. Financials down 3.6%, Resources outperforming – down 1.5% and the Energy sector is down 3.5%.
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