Pacific Brands Limited

Australian Market Report of September 08, 2010 includes; Coeur d'Alene Mines (NYSE:CDE) subsidiary Coeur Alaska, Inc., has entered into a contract with Aurubis AG (ETR:NDA). Pacific Brands (ASX:PBG) recovered to a full-year net profit of A$52.7 million for the 12 months ending June 30, Alexium International (ASX:AJX) today announced that the Patents Registry for the Hong Kong Special Administrative Region China has been approved, Convergent Minerals (ASX:CVG) is to acquire Windarling Peak Project by farm-in from Iron Road Ltd (ASX:IRD).

The Australian share market fell sharply Wednesday after led by mining giants BHP Billiton and Rio Tinto as metals prices dropped. The benchmark S&P/ASX200 index ended down 69.8 points, or 1.5 per cent, at 4648.5, while the broader All Ordinaries index lost 65.1 points, or 1.4 per cent, to 4665.9.

Overnight Wall Street was up on economic data, positive earnings and the nomination of Federal Reserve chief Ben Bernanke to serve a second term. The Conference Board's August index of consumer confidence rose for a second month, exceeding economists' forecast.

The Australian shares ended marginally higher last Friday. The benchmark S&P/ASX200 index was up 3 points, or 0.1%, to 3941.7, while the broader All Ordinaries Index rose 7.5 points, or 0.2%, to 3919.6.

Yesterday, the Australian stocks closed slightly lower dragged by the major miners. The benchmark S&P/ASX200 index fell 0.2%, or 7.7 points, at 3769 points, while the All Ordinaries index was also down 0.2%, or 5.8 points, at 3722.3.

Yesterday the Australian market struggled for direction early on but then found its feet later in the session to close higher, according to CMC Markets. The benchmark S&P/ASX200 index gained 30 points, or 0.95 per cent, at 3,184.5, while the broader All Ordinaries rose 21.5 points, or 0.69 per cent, to 3,143.2.

The Australian market was treading water on Monday in the midst of a combination of negative news from overseas and in the domestic scene. The benchmark S&P/ASX200 index fell 94.4 points, or 2.82 per cent, at 3250.1, while the broader All Ordinaries plunged 93.1 points, or 2.82 per cent, to 3203.8.

Australian share closed at their five-year low point. The benchmark S&P/ASX200 was down 0.1%, or 4.1 points, at 3327.5, while the broader All Ordinaries index also fell 0.1%, or 3.5 points, at 3281.5.

Yesterday the Australian shares were showing their resilience to the bad leads from overseas. The market ended with a modest drop after a rebound from the early losses. The benchmark S&P/ASX 200 ended down 0.6%, or 19.6 points, at 3331.6, while the broader All Ordinaries index also fell 0.6%, or 19.1 points, to 3285.

On Monday, the Australian share market closed around four per cent higher, boosted by gains in the financial and resources sector and a rally on United States markets on Friday. Meanwhile, bargain hunters took the buying opportunity to snap cheap stocks. Energy sector was also pushed up by the higher oil price as well as the Santos takeover talks. The benchmark S&P/ASX200 index gained 141.7 points, or 4.06 per cent, to 3,631.6, while the broader All Ordinaries was up 126.6 points, or 3.69 per cent, at 3,553.8. The news a short-term rescue package for the US carmakers expected to be unveiled may strengthen the market sentiment today. Resource stocks would also gain after commodity prices advanced.