BHP Group Ltd

Wall Street Thursday closed with little change after the market trimmed its early gains. US stocks rose for most of the session, but in the afternoon the market declined as falls in crude oil future hit the energy shares. Higher metal price could help the Asian markets Friday to offset some negative sentiment that cut gains on Wall Street. Asian bourses ended mixed Thursday while fiscal concerns in euro zone persist. Hong Kong and Shanghai markets lost more than 1 per cent each. However, Japan's Nikkei 225 Average added 0.1 per cent, South Korea's Kospi rose 0.4% and Taiwan's Taiex finished 0.2% higher.

Kairiki Energy Limited (ASX:KIK) (PINK:KAIRF) is pleased to announce that its wholly-owned subsidiary Yilgarn Petroleum Philippines Pty Ltd has entered into an agreement with TG World (BVI) Corp. [a subsidiary of TG World Energy Corporation (CVE:TGE) (PINK:TGWEF)] to farm-out 4.9% of its current 35% interest in Service Contract 54 Block A (SC 54A), offshore, Northwest Palawan Basin, Philippines.

Today Asian stocks are set to rise after Wall Street rallied Friday, boosted by US upbeat jobs data. Asian markets broadly gained on Friday. Tokyo stocks advanced 2.2 per cent on expectations that the Japanese central bank may ease its monetary policy further. Shanghai and Hong Kong markets also powered higher on hope of China's moderately loose policies and an 8 per cent economic growth target this year. Shanghai Composite was up 0.25 per cent, and Hang Seng Index gained 1 per cent. South Korea's Kospi climbed 1 per cent.

Iron Road Limited (ASX:IRD) is pleased to announce that significant progress has been made at the Gawler Iron Project in South Australia. Planned commencement Company's maiden drilling programme at Gawler remains within Q1 2010.

In Asia, China's unexpected announcement that it will increase the reserve-requirement ratio would fuel worries over the global economy recovery, but thin trading is expected today as most markets including mainland China, Hong Kong, Taiwan, Vietnam, South Korea and Singapore will be closed for Lunar New Year holiday. Japan's exporters will be supported by weaker yen. Japan's gross domestic product data, released by the Cabinet Office on Monday, showed that the country's economy grew at a faster than expected pace in the October-December quarter.

Australian shares gave up early gains after disappointing trade numbers from China raised concerns that Chinese economy is cooling. The market closed slightly higher as earnings reports from market heavyweights BHP Billiton and Commonwealth Bank helped the rise. At the close, the benchmark S&P/ASX200 index was 8.3 points higher, or 0.2 per cent, at 4513.4. The broader All Ordinaries index rose 12.3 points, or 0.3 per cent, to 4533.

The last trading day of January ended with a sharp loss on Friday. Australian shares plunged more than 2 per cent while the market was clouded with negative sentiment. At the close, the benchmark S&P/ASX200 index was down 103.7 points, or 2.2 per cent, to 4569.6, while the broader All Ordinaries index fell 100.8 points, or 2.1 per cent, to 4596.9. For the month, a 6.2 per cent, or A$85 billion in value, was wiped off from the market.

Wall Street slumped sharply on Thursday after disappointing earnings reports and news of China's further tightening bank lending. The US dollar soared to one month high against a basket of currencies while investors shifted to haven.

Wall Street rebounded on Tuesday to close at new 15-month highs. Health care sector rallied as investors bet that the outcome of a Senate race in Massachusetts might make it harder for President Barack Obama's health-insurance reforms.

The Australian sharemarket closed lower on Tuesday led by financial stocks as investors were nervous ahead of earnings reports by US banks. At the close, the benchmark S&P/ASX200 index lost 49.9 points, or 1 per cent at 4861.2, while the broader All Ordinaries index fell 46.5 points, or 1 per cent, at 4889.6.