MARKET TALK: Gillard Has Numbers To Take Out Australia PM-Reports

23rd Jun 2010 22:46

2146 GMT [Dow Jones] With it looking more likely that Julia Gillard will succeed in her leadership challenge against Australia's Prime Minister Kevin Rudd, with reports that she has the numbers locked in, eyes likely to turn to Labor's chances of winning an election against Tony Abbott's Liberal National opposition. Likely to be plenty of chatter in market about the prospects for a second Labor term, but could be some early bets that a Labor party leadership instability could give Abbott an edge. That could have implications for stocks like Telstra (TLS.AU)--with Abbott saying he'd scrap the NBN project--and obviously the miners, including BHP Billiton (BHP.AU), Rio Tinto (RIO.AU) and Fortescue Metals (FMG.AU), as Abbott also does not support the resource super profits tax. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires June 23, 2010 17:46 ET (21:46 GMT)