2nd UPDATE: Chalco Trading Halt Likely Linked To Simandou Iron Ore Deal
28th Jul 2010 06:57
(Adds industry, source comments on Guinea Simandou iron ore project.) By Chuin-Wei Yap Of DOW JONES NEWSWIRES BEIJING (Dow Jones)--Chinese metals major Aluminum Corp. of China, also known as Chinalco, may be poised to set out formal details of its deal with Anglo-Australian miner Rio Tin
Read moreUPDATE: RBA's McKibbin Says Timing Of Mining Tax Proposal Was Risky
28th Jul 2010 06:40
(Adds comments on ETS) By Rebecca Thurlow Of DOW JONES NEWSWIRES SYDNEY (Dow Jones)--Reserve Bank of Australia board member Warwick McKibbin said Wednesday it is "stunning" that Australia's government would change the country's mining tax regime while there is a sovereign risk crisis i
Read moreUPDATE: Australia PM Gillard Defends Damaging Cabinet Leaks
28th Jul 2010 06:01
(Adds detail, wraps in Liberal tax announcement) By Rachel Pannett Of DOW JONES NEWSWIRES CANBERRA (Dow Jones)--Australia's Prime Minister Julia Gillard encountered the biggest test yet Wednesday in her bid for a second term for her center-left Labor government, as her campaign was tro
Read moreAustralia's MRRT To Cost Coal Producers A$7.4B Over 5 Years -Woodmac
28th Jul 2010 03:20
SYDNEY (Dow Jones)--The Australian government's deal on a new mining tax will cost coal producers an extra A$7.4 billion over the first five years if coal prices remain at current levels, a new study showed Wednesday. Industry consultant Wood Mackenzie said the tax burden risks adding to long-te
Read moreMARKET TALK: S&P/ASX 200 Up 0.3%; Supported By Banks
28th Jul 2010 01:42
0042 GMT [Dow Jones] S&P/ASX 200 up 0.3% at 4510.6, supported by banks, which are up 0.5%-1.3% on offshore peer strength after strong results from UBS and Deutsche Bank. Resources holding up despite overnight weakness in commodity prices and U.S. peers, with BHP (BHP.AU) up 0.5%, Rio (RIO.AU) up 0.6
Read moreMARKET TALK: S&P/ASX 200 Offshore Leads Mostly Bearish
28th Jul 2010 00:25
2325 GMT [Dow Jones] S&P/ASX 200 offshore leads mostly bearish, with overnight SPI 200 futures down 0.5% at 4485.0. Wall Street fell as economic concerns outweighed corporate earnings strength, although base metals rose on positive comments from China. DJIA down 0.4% at 10497.88, S&P 500 down 0.7% t
Read moreUS HOT STOCKS: Cephalon Active In Late Trading
27th Jul 2010 21:59
U.S. stocks closed mixed Tuesday, as the Dow Jones Industrial Average rose 12 points to 10538, but the S&P 500 lost 1 point to 1114 and the Nasdaq Composite declined 8 points to 2288. Among the companies whose shares are actively trading in the after-hours session are Cephalon Inc. (CEPH), Buffalo W
Read moreUS HOT STOCKS: US Steel, Lexmark, UBS, DuPont, Deutsche Bank
27th Jul 2010 18:12
U.S. stocks were mixed Tuesday, as the Dow Jones Industrial Average gained 10 points to 10536, but the S&P 500 slipped 2 points to 1113 and the Nasdaq Composite dropped 9.9 points to 2286. Among the companies whose shares are actively trading in the session are U.S. Steel Corp. (X), Lexmark Internat
Read moreBrazil Vale Profits Seen Rising Fourfold On Market Rebound
27th Jul 2010 17:58
By Diana Kinch Of DOW JONES NEWSWIRES RIO DE JANEIRO (Dow Jones)--Net profits at Brazil's Vale SA (VALE, VALE5.BR) could soar more than fourfold in second-quarter 2010, with the world's biggest iron ore miner benefitting from price hikes of over 100% as steelmakers worldwide emerge from cris
Read moreLondon close: Lead slashed as miners fail
27th Jul 2010 16:37
A big chunk of the morning's hard-fought gains went up in smoke late in the session as an early rally on Wall Street quickly turned into nothing. Miners were the main culprits. All the big guns gave back big leads mid-afternoon following stronger-than-expected US home-price data that helped the dol
Read moreBemis 2Q Profit Rises 24% On Acquisition; EPS View Raised
27th Jul 2010 13:52
DOW JONES NEWSWIRES Bemis Co.'s (BMS) second-quarter earnings rose 24% as the food-and-beverage packaging company saw strong sales growth and increased volume, aided by its March acquisition of Alcan Packaging Food Americas from Rio Tinto PLC (RTP, RIO.LN) in a $1.2 billion deal. President a
Read more2ndUPDATE:Xstrata 1H Coal Output Flat;Copper Cathode Output Up
27th Jul 2010 09:54
(Adds details, analyst comments, updated share price.) By Alex MacDonald Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Anglo-Swiss miner Xstrata PLC (XTA.LN) Tuesday reported a 2.8% rise in first half copper cathode production and coal output that was more or less unchanged. Copper an
Read moreUPDATE: Coal & Allied 1H Net Profit Up 54%; Almost Triples Dividend
27th Jul 2010 07:49
By David Fickling Of DOW JONES NEWSWIRES SYDNEY (Dow Jones)--Coal & Allied Industries Ltd. (CNA.AU) said Tuesday net profit for the half year ended June 30 rose 54% on year but excluding one-time divestments it fell 50%. In an interim report, the company said net profit rose to A$497.8
Read moreCoal & Allied 1H Net Profit Up 54% On Year At A$497.8M
27th Jul 2010 06:36
SYDNEY (Dow Jones)--Coal & Allied Industries Ltd. (CNA.AU) said Tuesday net profit for the half year ended June 30 rose 54% on year to A$497.8 million from A$323.6 million. Excluding the divestment of its Maules Creek and Vickery coal projects, half year net profit fell 50% to A$161 million, low
Read moreMARKET TALK: S&P/ASX 200 Up 0.7%; Hits Fresh 4-Week High
27th Jul 2010 01:44
0044 GMT [Dow Jones] Australia's S&P/ASX 200 up 0.7% at 4516.7, hits fresh 4-week high of 4520.3, after S&P 500 rose 1.1% on above-consensus new home sales data and improved guidance from economic growth bellwether FedEx. Financials leading broad gains, with major banks up 0.7%-1.6%, led by Westpac
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