MARKET TALK: S&P/ASX 200 Up 2%; Fades Despite Strong Jobs
8th Jul 2010 04:20
0320 GMT [Dow Jones] S&P/ASX 200 up 2% at 4339 after fading from 7-week high of 4354.9 despite strong jobs data, which pushed AUD/USD up to 0.8744 from 0.8643. S&P/ASX 200 faded alongside U.S. stock index futures, with Fibonacci resistance near 4350 more or less intact, although index is well above
Read moreMARKET TALK: S&P/ASX 200 Up 2.1% After Wall Street Surge
8th Jul 2010 01:32
0032 GMT [Dow Jones] S&P/ASX 200 2.1% at 4342.5, hits 7-day high of 4349.6, after S&P 500 surged 3.1% on Wall Street overnight. Financials, materials, energy leading broad-based gains, with banks up 2.6%-3.3%, BHP (BHP.AU) up 2.3%, Rio Tinto (RIO.AU) up 2.5%, Santos (STO.AU) up 2.3%. Industrials and
Read moreRio Tinto CEO: 9% China GDP Growth Not Sustainable
8th Jul 2010 00:33
LONDON (Dow Jones)--China's economy is more likely to grow at an average rate of 6% annually than 9% annually, the chief executive of global diversified miner Rio Tinto PLC (RTP) said Thursday. "I think 9% is not a sustainable target" for Chinese economic growth, Tom Albanese said at the Melbour
Read moreMARKET TALK: S&P/ASX 200 Offshore Leads Bullish; SPI Up 0.6%
8th Jul 2010 00:19
2319 GMT [Dow Jones] S&P/ASX 200 offshore leads bullish, with overnight SPI 200 futures up 28 points, or 0.6%, at 4375.0 after Wall Street rose for 3rd consecutive day, albeit on light volume. DJIA rose 1.2% to 10138.99, S&P 500 rose 0.9% to 1070.25, Nasdaq rose 0.7% to 2175.40. May consumer credit
Read moreChinalco Mulls Purchasing Direct Minority Stake In Oyu Tolgoi
7th Jul 2010 19:04
By Alex MacDonald Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Aluminum Corp. of China (ACH, 2600.HK) is considering purchasing a direct minority stake in one of the world's largest undeveloped gold-and-copper mine deposits. Canada's Ivanhoe Mines Ltd (IVN) owns a 66% stake in the Mongolia
Read moreRio: Laterriere Smelter Seen At 1/2 Capacity For 3-6 Months
7th Jul 2010 17:04
LONDON (Dow Jones)--Rio Tinto PLC's (RTP) Laterriere Works aluminum smelter in Quebec will operate at half its capacity for three to six months following a power failure, a company spokesman said Wednesday. Two of three electrical transformers feeding electricity to the Laterriere smelter failed
Read morePower Failure Halves Output At Rio Tinto's Laterriere Smelter
7th Jul 2010 16:20
LONDON (Dow Jones)--Rio Tinto PLC's (RTP) Laterriere Works aluminum smelter in Quebec, Canada is operating at half capacity following a power failure that could last several weeks at a minimum, a company spokesman said Wednesday. Two of three electrical transformers feeding electricity to the La
Read morePRESS RELEASE: Production disruption at Rio Tinto Alcan's Laterriere Works smelter following the failure of two electrical transformers
7th Jul 2010 15:22
MONTREAL, July 7 /CNW Telbec/ - Rio Tinto Alcan's Laterriere Works aluminium smelter in Quebec suffered a significant power outage yesterday after two electrical transformers failed, leaving the plant without the adequate energy required to continue operating at full capacity. "As the safety of
Read moreUPDATE: Australia's ACCC Suspends Date For BHP, Rio Tinto Iron JV Ruling
7th Jul 2010 08:58
(Adds comments by BHP Billiton, analyst) By Alex Wilson Of DOW JONES NEWSWIRES MELBOURNE (Dow Jones)--Australia's competition regulator has once again suspended the date for a ruling on the planned iron ore joint venture between BHP Billiton Ltd. (BHP) and Rio Tinto Ltd. (RTP), this ti
Read moreMARKET TALK: ACCC Delays BHP, Rio Tinto Iron Ore JV Ruling
7th Jul 2010 08:30
0730 GMT [Dow Jones] Australian Competition and Consumer Commission suspends the date for a ruling on BHP Billiton (BHP.AU) and Rio Tinto's (RIO.AU) planned iron ore JV. The ACCC had planned to release its finding on July 22, but now says it has suspended the decision, "at the request of the joint v
Read moreAustralia's ACCC Suspends Date For BHP, Rio Tinto Iron JV Ruling
7th Jul 2010 08:21
MELBOURNE (Dow Jones)--Australia's competition regulator has once again suspended the date for a ruling on the planned iron ore joint venture between BHP Billiton Ltd. (BHP) and Rio Tinto Ltd. (RTP), this time to allow the miners to make further submissions. The Australian Competition and Consum
Read moreAston Resources In Talks With Two Chinese Groups On Coal Mine Stake - Source
7th Jul 2010 08:10
MELBOURNE (Dow Jones)--Aston Resources Pty. Ltd. is in talks with two Chinese groups interested in taking a cornerstone stake in its Maules Creek development and securing coal offtake from the mine, a person familiar with the situation said Wednesday. The Brisbane-based vehicle of mining investo
Read moreMARKET TALK: S&P/ASX 200 Down 0.6% As US Futures Remain Weak
7th Jul 2010 06:21
0521 GMT [Dow Jones] S&P/ASX 200 down 0.6% at 4249.9 after hitting fresh intraday low of 4234.3 in afternoon trading, as U.S. stock index futures remain down 0.3% and Asian stock markets are mostly negative. Banks have fallen back to earth, with falls of 1.0%-1.9%, after excessive gains of about 3.0
Read moreMARKET TALK: BHP, Rio Valuations Fall Slightly Under New Tax -DB
7th Jul 2010 02:32
0132 GMT [Dow Jones] Deutsche Bank says the Australian Government's reworked Minerals Resource Rent Tax is a big win for miners but still results in a small hit to valuations of BHP Billiton (BHP.AU) and Rio Tinto (RIO.AU). Says the MRRT results in a 2.6% decline in net present value for BHP. The de
Read moreMARKET TALK: S&P/ASX 200 Up 0.3%; Miners Strong
7th Jul 2010 01:42
0042 GMT [Dow Jones] S&P/ASX 200 up 0.3% at 4287.5 after hitting 4262.6 in early trading, in line with modest falls in Asian equities. Follows muted and indecisive gains on Wall Street, as disappointing U.S. services ISM data offset optimism over China's infrastructure spending plans, which boosted
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