Om Holdings Limited

Archer Exploration Limited (ASX:AXE) received assay results from recent drilling at the Jamieson Tank JV. Monax Exploration Limited completed 14 Rotary Air Blast holes on EL 3711 in March 2011.

Australian Market Report of December 31, 2010 includes: Moly Mines Limited (ASX:MOL) (TSE:MOL) has sailed its first shipment of 54,500 tonnes of iron ore to China; Living Cell Technologies Limited (ASX:LCT) announced A$5,750,000 fund raising; OM Holdings Limited (ASX:OMH) secured land for Malaysian based smelting and sintering plant; Perilya Limited (ASX:PEM) increased Mineral Resources and Ore Reserves in Broken Hill.

OM Holdings Limited (ASX:OMH) said has executed a confidentiality agreement with Consolidated Minerals Limited with respect to investigating a possible transaction involving ConsMin's Woodie Woodie manganese operation in Pilbara region of Western Australia.

The US market fell into mood swings and closed in the red last week. On Friday, the disappointing sales by BlackBerry maker Research In Motion dragged the technology companies lower. For the week, the Dow index lost 155 points, or 1.58 per cent. This week the market will be tested by crucial data including September non-farm payrolls, final second-quarter gross domestic product and several other big economic reports.

The Australian share market yesterday closed slightly higher with a good lead from Wall Street. The benchmark S&P/ASX200 index gained 12.7 points, or 0.3 per cent, at 3801.1, while the broader All Ordinaries index rose 13.7 points, or 0.4 per cent, to 3795.3. There was a sell-off in late trading as investors drew cash to participate ANZ's capital raising.

The Australian market ended lower Friday. The benchmark S&P/ASX200 index was down 46.5 points, or 1.4%, at 3402.4. The broader All Ordinaries index shed 45 points, or 1.3%, to 3353. The market sentiment hit by the bearish tone from overseas is not likely to change by the upcoming half year earnings.

Yesterday the Australian stock market fell sharply led by falls in Wall Street and the bleak local jobless data. Analysts expect worse to come after the ABS unemployment figure rose from 4.4% to 4.5% as the global economy further deteriorates this year. The benchmark S&P/ASX200 index fell 157.5 points, or 4.27 per cent, to 3,529.5 and the broader All Ordinaries index retreated 147.5 points, or 4.07 per cent, to 3,476.8.

Yesterday Australian shares ended lower as the resources sector was dragged by the dropping commodities prices. The benchmark S&P/ASX200 share index closed down 85.4 points, or 2.3%, at 3694.3, and the broader All Ordinaries index was 84.6 points lower, or 2.3%, at 3643.6. Investors forecast the economic downturn may not change in a short term with more staff layoff and grim corporate results coming.

Yesterday the Australian share market closed higher with gains across all sectors, except for healthcare. The market remained quiet with low trading volume and less news out. The S&P/ASX200 index rose 55.7 points, or 1.5%, to 3742.7, a near two-month closing high, while the broader All Ordinaries index gained 50.3 points, or 1.4%, to 3689.2.

Yesterday, the Australian shares closed lower as investors were leaving the market before Christmas. On Monday, the benchmark S&P/ASX200 index was down 58.3 points, or 1.61%, at 3557.4 points, while the broader All Ordinaries index was 54.9 points, or 1.55% lower, at 3492.3 points. Analysts said the loss was larger than expected, and the negative news from the world markets would impact on the local market.