Australasian Investment Review (AIR) is a free daily news service with a weekly online magazine covering global financial markets with a focus on Australia, New Zealand and Asia.
In its forecast, Merrill Lynch said there were a number of positives for residential housing and prices:
Sporting fashionwear retailer and exporter, Billabong International is feeling the conflicting winds of the global economic crunch and credit freeze, and the slumping Australian dollar.
Adelaide-based agribusiness group, Futuris Corp expects its 2009 underlying net profit to be at the lower end of market expectations.
If we think about it, BG Group of Britain has timed its bid for Queensland Gas very nicely.
The market is down 38 or 1% - would have been a lot worse if not for the big gains from metals in London overnight – Nickel up a big 11%. Property Trusts continue to struggle on capital concerns, financials also going backwards but resources outperforming led by BHP, RIO and FMG. 109 stocks in the All Ords have hit a fresh yearly low.
The thumping handed out to metal prices has produced conflicting market reactions for two medium-sized miners yesterday after they provided market updates.
Adelaide-based investor, Argo Investments told shareholders yesterday that its earnings have been impacted by the equity market meltdown which will continue to squeeze its profits and dividends for the foreseeable future.
Shares in Consolidated Media Holdings finished higher yesterday after being sold off when James Packer confirmed that the company had effectively given up on PBL Media by refusing to put any more money in to the debt-laden company.
I suppose it would be unfair to call the South Korean central bank a bunch of wimps for their biggest ever rate cut of 0.75%% yesterday, but it looks like that.
Considering the words "share issue" was used at its annual meeting yesterday, Bendigo and Adelaide Bank escaped the now usual market pounding reserved for groups seeking to raise money in the current febrile environment.
