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.
Once again CSR has downgraded earnings: the diversified sugar and building products group is a serial offender as now there have been downgrades in each of the last three years.
Usually the Ten Network releases its half yearly results to the market, sends them out via email and has a press conference at which chairman Nick Falloon, TV boss, Grant Blackley and head of the outdoor business, Gerry Thorley explain the figures.
The market is having a horrid day – down 217 or 5.1% - on the back of heavy falls on Wall Street overnight. The SFE Futures predicted a 301 point fall this morning. All sectors well down, resources underperforming – down 9.4% - led by the big boys BHP down 9.8%, Rio Tinto down 13.7% and Fortescue Metals down 10.4%. 54 stocks among the All Ords have hit fresh yearly lows.
Property developer Stockland continued to go fishing amid the volatile market conditions, grabbing its second stake in three days in a listed retirement operator.
The China boom is over, ended by Rio Tinto in its third quarter production review.
Origin Energy great coal seam gas bonanza continues to generate good times for shareholders.
AGL Energy has confirmed its earning guidance for fiscal 2009, forecasting net profit after tax of between $360 million and $390 million.
CSL says full year earnings may rise as much as 19% because of the recent slide in the value of the Australian dollar.
The market is taking a breather after yesterday's gain – down 56 – much better than the 99 point drop predicted by the SFE Futures this morning. Down 4 at its best, down 70 at worst. Property Trusts up 3.1% after underperforming the market yesterday. Stocks hitting fresh yearly lows today include Austar, BlueScope Steel, Fairfax Media, Qantas Airways and K&S Corporation.
Two days after calming any concerns about the banks and financial institutions with a blanket guarantee and backing for the banks' offshore wholesale borrowings, the Federal Government has revealed a $10.4 billion injection into the Australian economy.
