The contrast was telling: there was India's central bank sending a strong signal that it will not tolerate high inflation by announcing a larger than expected increase in its key lending rate and threatening more measures to come.
Wall St is up 452 points in two days and we are trying to respond but struggling. After a 79 point rise early on the market is now flagging in low volume to be up 33 - Not as promising as the 92 point rise the SFE Futures. Resources outperforming +2.1% led by the big boys – BHP, RIO and FMG up 2.5%, 2.2% and 3.8%. The drop in the market from the open this morning has come in financials – they were up 1.6% and are now down 0.6%. The NAB has announced a new CEO following last week's profit warning. They were up 2.1% first thing and are now down 1.3%. Stocks hitting fresh yearly lows today include TABCORP Holdings and Patties Foods.
Listed investment company Milton Corporation seems to have done a bit better than its rivals, like Australian Foundation Investment Co.
As expected, that battering Aristocrat Leisure took on the stock exchange yesterday didn't let up.
Rio Tinto shareholders are receiving an introductory letter from BHP Billiton Chairman Don Argus, five months or so after BHP finally pressed the go button and launched its 3.4 share for every Rio share offer.
Yesterday it was another surprise from building and housing; will retail sales give us another direction for the economy when the June figures are released today?
Regional pay television operator Austar United Communications says it's confident about the full year after posting a first half net loss.
