UPDATE: Australia's New PM Calls For Truce With Miners In Battle Over Tax
24th Jun 2010 04:17
(Adds background and comment from mining industry source) By Alex Wilson Of DOW JONES NEWSWIRES MELBOURNE (Dow Jones)--Australia's new Prime Minister Julia Gillard Thursday called for a truce in the battle between the mining industry and the government over its planned new tax but said
Read moreCoal & Allied Assessing Potential Oaklands Deposit Sale
24th Jun 2010 04:02
MELBOURNE (Dow Jones)--Coal & Allied Industries Ltd. (CNA.AU) said Thursday it was assessing the possible sale of its Oaklands deposit in New South Wales state. The Rio Tinto Ltd. (RIO.AU) subsidiary said in a statement that it had engaged corporate advisers to assist in the process. It did not
Read moreMARKET TALK: Australian Miners CDS Tighten On Gillard - Trader
24th Jun 2010 03:50
0250 GMT [Dow Jones] Cost of insuring against bond default by Australian mining companies modestly tighter early on new PM Gillard-led government's hint of compromise on mining tax resource, outperforming wider index, notes credit strategist. Rio Tinto (RIO.AU) 5-year CDS last 120-124 bps, 3 bps tig
Read moreAustralia's New PM Victory Changes Little On Resource Tax -Miner
24th Jun 2010 01:53
SYDNEY (Dow Jones)--The removal of Kevin Rudd as Australia's prime minister is unlikely to change the prospects for the government's mining tax, one of the more vocal critics of the plan said Thursday. Tony Sage, chief executive of Cape Lambert Resources Ltd. (CFE.AU), said that Labor's new lead
Read moreMARKET TALK: S&P/ASX 200 Up 0.5%; Miners Jump On Rudd Dump
24th Jun 2010 01:49
0049 GMT [Dow Jones] S&P/ASX 200 up 0.5% at 4509.8, hits 4516.7 as resources jump after Federal Government replaces Kevin Rudd with Julia Gillard as Prime Minister, damping perceived regulatory and sovereign risk in Australia. BHP (BHP.AU) up 2.0%, Rio (RIO.AU) up 2.4%, Fortescue (FMG.AU) up 3.6%, O
Read moreMARKET TALK: S&P/ASX 200 Leads Mostly Bearish; SPI Down 1.3%
24th Jun 2010 00:39
2339 GMT [Dow Jones] S&P/ASX 200 offshore leads mostly bearish, with overnight SPI 200 futures down 59 points, or 1.3%, at 4428.0 as Wall Street was hit by uncertainty over the financial overhaul bill and disappointing earnings from Bed Bath & Beyond and Nike. DJIA down 1.4% at 10152.80, S&P 500 dow
Read moreMARKET 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 Nat
Read moreMARKET TALK: Investors Mull Implications Of Rudd/Gillard Showdown
23rd Jun 2010 22:26
2126 GMT [Dow Jones] As Australia's Prime Minister Kevin Rudd faces a leadership showdown with his deputy Julia Gillard at 2300 GMT, equity investors will be considering implications of both potential outcomes. Reports last night suggested that Gillard had the support of the Labor Party's Right fact
Read moreADR Report: Shares Close Mostly Flat On Cautious Outlook
23rd Jun 2010 22:11
By Victoria Finkle Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--International companies trading in New York ended close to flat Wednesday, following a fitful session during which the U.S. Federal Reserve kept interest rates low and took a cautious stance on the economic outlook. The Bank
Read moreLondon close: US housing data hits shares
23rd Jun 2010 17:03
Disappointing housing data from the US endured that London's leading share index finished firmly in the red. Shares were already sluggish, but turned sharply lower after new home sales in the US dropped 32.7% in May to 300,000 annual rate, the lowest level since recordkeeping began. In the mining
Read moreUPDATE: Australia PM Rudd Fights For Survival In Party Revolt
23rd Jun 2010 16:57
(Recasts, combined stories, adds context, analysis) By Rachel Pannett Of DOW JONES NEWSWIRES CANBERRA (Dow Jones)--Australia's Prime Minister Kevin Rudd is fighting for his political life after a mutiny broke out in his governing party Wednesday that could see the once-popular leader rep
Read moreFTC Starts Review Of BHP, Rio Tinto Iron Ore Tie-Up -Nikkei
23rd Jun 2010 15:42
TOKYO (Nikkei)--The Japan Fair Trade Commission has begun its antitrust review of a plan by BHP Billiton Ltd. (BHP, BHP.AU) and Rio Tinto Ltd. (RIO.AU) to merge their Australian iron ore mining operations, commission Secretary-General Takahide Matsuyama told a news conference Wednesday, The Nikkei r
Read moreLondon afternoon: Stocks dip in quiet trading
23rd Jun 2010 14:24
London had an up and down lunch time session with the Footsie ending the period more or less where it started it, in the red. Trading is a bit sluggish, however, and the suspicion is that traders are more interested in this afternoon's crunch World Cup match between Slovenia and England than in th
Read moreMARKET TALK: Miners Rise As Australian PM Reportedly Quits
23rd Jun 2010 13:25
1225 GMT [Dow Jones] Miners are on the rise in London after Sky TV reports that the Australian Prime Minister has agreed to resign from his post. Traders note that miners with links to the region are rallying hard. BHP Billiton is +0.6% and Rio Tinto is +0.8%. Furthermore, the FTSE 350 mining sector
Read moreLondon midday:Attempted rally falters
23rd Jun 2010 11:58
Mining stocks are weighing the Footsie down as London follows Wall Street's lead and heads south. American investors took flight following weak housing data and Asian markets followed suit this morning. Reflecting that, miners are down with recently floated FTSE 100 new boy African Barrick Gold lea
Read more