MARKET TALK: S&P/ASX 200 Up 0.1%; Should Test Higher-Trader
15th Jun 2010 07:02
0602 GMT [Dow Jones] S&P/ASX 200 should test higher levels in the short term, says Cityindex dealer James Persson. "While the U.S. equities market did pull back fairly sharply from its highs last night, the currency market is still indicating that there's a fairly bullish view out there...I think we
Read moreBG Group Holds "Productive" Talks With Australia Government On Mining Tax
15th Jun 2010 05:59
CANBERRA (Dow Jones)--BG Group PLC (BG.LN) met with Australian Prime Minister Kevin Rudd Tuesday to discuss the potential impact of a new 40% tax on resource industry "super profits" on the emerging coal-seam gas sector. It comes as the BG Group board is preparing to make a final investment deci
Read moreMARKET TALK: Downgrades Priced Into Aussie Equities -Citi
15th Jun 2010 02:20
0120 GMT [Dow Jones] Earnings downgrades have been priced into the Australian equity market, so current market levels are a genuine buying opportunity, according to Citi analysts. "We believe the equity market is currently pricing in almost no earnings growth over the next year," says Citi. "With ea
Read moreWA Premier Says BHP, Rio Tinto Deal On Royalties Close - Report
14th Jun 2010 22:36
SYDNEY (Dow Jones)--Western Australian Premier Colin Barnett has said BHP Billiton Ltd. (BHP) and Rio Tinto Ltd. (RTP) have agreed to pay an extra A$300 million in mining royalties but are still in talks to gain more concessions, says a report in Tuesday's Australian Financial Review. Barnett wa
Read moreChile Mining Sector To Benefit From Australia Tax Changes-Minister
14th Jun 2010 12:36
(This article was originally published Friday.) SANTIAGO (Dow Jones)--The Chilean mining industry stands to benefit from the stir the proposed Resource Super Profits Tax is causing among miners in Australia, said Chile's Mining Minister, Laurence Golborne. Mining companies including Anglo-A
Read moreFOCUS: Afghan Minerals A Prize, But Extraction Is The Key
14th Jun 2010 09:40
By David Fickling Of DOW JONES NEWSWIRES SYDNEY (Dow Jones)--Nearly $1 trillion in reported untapped minerals deposits in Afghanistan could transform prospects for the poor, war-ravaged country, but bringing such reserves to development would be a colossal challenge, analysts said. The
Read moreMacarthur Coal Chairman Calls For Australia PM Rudd To Be Dumped
12th Jun 2010 13:21
MELBOURNE (Dow Jones)--A prominent Australian businessman and former Labor politician has urged Australia's governing Labor party to dump Prime Minister Kevin Rudd or risk being out of power for a generation as the heated debate over the government's planned Resources Super Profits Tax continues to
Read moreChile Mining Sector To Benefit From Australia Tax Changes-Minister
11th Jun 2010 23:14
SANTIAGO (Dow Jones)--The Chilean mining industry stands to benefit from the stir the proposed Resource Super Profits Tax is causing among miners in Australia, said Chile's Mining Minister, Laurence Golborne. Mining companies including Anglo-Australian giants BHP Billiton (BHP.AU) and Rio Tinto
Read moreUPDATE: Rio Tinto CEO: Short-Term Economic Outlook A Concern
11th Jun 2010 18:54
By William Horobin Of DOW JONES NEWSWIRES PARIS (Dow Jones)--Mining giant Rio Tinto's (RTP) chief executive Friday said he remains concerned about the economy in the near term as structural defects following the financial crisis continue to work their way through the system, though he sees a
Read moreRio Tinto CEO: Short-Term Economic Outlook Still A Concern
11th Jun 2010 17:41
By William Horobin Of DOW JONES NEWSWIRES PARIS (Dow Jones)--Mining giant Rio Tinto's (RTP) chief executive Friday said he remains concerned about the economy in the near term as structural defects following the financial crisis continue to work their way through the system, though he sees a
Read moreRio Tinto CEO:Australia Tax Would Create Opportunity For Africa
11th Jun 2010 15:05
PARIS (Dow Jones)--Rio Tinto PLC (RTP) Chief Executive Tom Albanese Friday said a proposed tax on miners could push investment out of Australia and into Africa. "[The proposed policy] will create an opportunity for Africa if it has any semblance of what's being proposed right now," Albanese said
Read moreLondon open: BP revival lifts Footsie
11th Jun 2010 08:58
A revival by BP has started Footsie off on the front foot this morning after a surge by oil stocks on Wall Street overnight. BP is the best performer. The company yesterday reported the amount of oil is capturing from the Gulf of Mexico leak has risen to 15,800 barrels per day, though an upward rev
Read moreJapan Aluminum Buyers Reluctant To Commit On 3Q Deals -Traders
11th Jun 2010 04:49
By James Campbell Of DOW JONES NEWSWIRES SINGAPORE (Dow Jones)--Japan's aluminum buyers are reluctant to commit to third-quarter contract deliveries from major producers due to concerns about the strength of the global economic recovery, traders and market participants say. Negotiations
Read moreMARKET TALK: Strong Open For S&P/ASX 200
11th Jun 2010 01:51
0051 GMT [Dow Jones] The Aussie market came out of the gates with broad based gains early, lifting the S&P/ASX 200 by 61.2 points to 4496.5. "I would expect it to hang in there," RBS Head of Sydney Sales Trading Justin Gallagher says. "I would be surprised to see us go much higher." The market's ta
Read moreMARKET TALK: Aussie Miners In Focus Amid Tax Speculation
11th Jun 2010 01:08
0008 GMT [Dow Jones] While Aussie PM Kevin Rudd has downplayed a report that the government could be considering major changes to its Resource Super Profits Tax any time soon, unsourced report from Herald Sun columnist Terry McCrann says government is planning major changes to RSPT, possibly announc
Read more