DIARY: Australian Capex, US GDP
As discussed above, the June 30 corporate reporting season peaks this week with some good results but also slashes of red ink.
Companies in the News
Australian Economy
Australia Market Report of August 22: Commodity Boom Not Over?
Yesterday, the Australian share market closed lower after falls from the financial sector, with Babcock & Brown (ASX:BNB) suffering a heavy loss amid a drop in interim profit. Analysts said that some of the reports out yesterday were slightly negative, despite some coming out with higher profit the forward earnings would be under pressure.
Midday Market Roundup 22/08/2008
The market is up 39 – that compares to the Futures up 26 this morning on the back of a 12 point rise on Wall St. All about Resources today – up 3%. Financials flat. Property down. Metals rebounded strongly last night lifting nickel (up 8%), Zinc (up 7%), iron ore, copper and gold stocks. Energy stocks up on the back of the higher oil price. Resource majors all up – BHP, RIO, and Oz Minerals up 2.8%, 3.0% and 6.2% as the CRB Commodities Index has its biggest 3-day rise since 2002 – up 8.1%.
Japan: A One Quarter Slump?
Will Japan's second quarter slowdown prove to be a one quarter wonder?
Credit Crunch Still Searching For Victims
The great credit crunch monster has struck again on two continents: pushing those desperate twins, Fannie Mae and Freddie Mac to the edge for the second time in six weeks in the US, and finally crunching financial engineer, Babcock and Brown in Australia, sending chairman, Jim Babcock into early retirement and CEO, Phil Green to the backbench.
Qantas' 2008 Earnings Up, 2009 Down, But Well-Hedged
Qantas has increased its full year profit by 44.1 per cent but says it is starting to feel the effect of higher fuel costs amid an uncertain economic outlook.
QBE's “Difficult” Markets Experience
Investors hit major insurer QBE yesterday, despite it expressing confidence at being still able to meet its full year 20% profit margin target after reporting a 7% dip in interim profit.
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