Proactive investorsLogo Proactive Investors UK Website

Search field
Get Adobe Flash Player Download
Flash
Player ►

And
Enable
Javascript

Additional information
Additional Information
Market: ASX 200
Sector: Aerospace
Epic: ASX200
News: Latest news
Web Site: Australia Market Wrap
Other Articles: 18-03-201018-03-201018-03-2010

RSS - Subscribe to the News Today on Proactive UK ▼

Thursday March 18, 09:06The drugs work: Biocompatibles sees further good sales growth ahead

After better-than-expected sales growth in the 2009 full year, the drug-eluting beads maker forecasts more growth this year while the Oncology Products Division revs up the pace of product trials.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive NA ▼

Thursday March 18, 01:14Cisco remains at the forefront of internet infrastructure

The stock has recently managed to breakout above the long term resistance found at the $25 level which should now provide support for any pullback before the share price drives higher

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive CN ▼

Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

FULL ARTICLE ►
Thursday, January 08, 2009

Aussie resource stocks slam market into reverse

company news image

Finally local shares caught the sell-off fever, following large gains since November.  Overnight falls on Wall Street and falling commodity prices left little direction for the market to go – but down. 


Asian markets all reversed course with Hong Kong and Japanese markets down over three per cent respectively.


The S&P/ASX 200 closed down 85.4 points, or 2.3%, at 3694.3.


Miners – sold off amidst profit taking


Overnight falls in the price of oil and most commodity prices sent investors to the sell-side of their mining investments.  Very few mining stocks increased in a reminder of the bad old days of 2008.


BHP Billiton (ASX:BHP)was down $1.85, or 5.67%, to $30.75, Rio Tinto (ASX:RIO)lost $2.01, or 4.28%, to $44.92, Fortescue Metals (ASX:FMG) fell 18 cents, or 7.9%, at $2.09 and Mirabela Nickel (ASX:MBN) was steady at $1.60.


Gold stocks were also sold down as gold retreated overnight.  Lihir Gold (ASX:LGL) gave up 14 cents, or 5.36%, to $2.47 and Newcrest Mining (ASX:NCM) lost $1.44, or 4.85%, to $28.25.


Oil stocks were falling all day, Santos (ASX:STO) was down 49 cents, or 3.22%, to $14.72 and Woodside Petroleum (ASX:WPL) was $2.17, or 5.6%, to $36.60.


Banks down - but treated less harshly


Bank stocks were weaker as ANZ Bank (ASX:ANZ) lost 17 cents to $15.18,  Commonwealth Bank (ASX:CBA) was down 38 cents to $28.57, NAB (ASX:NAB) lost 13 cents to $20.76 and Westpac (ASX:WBC) fell 27 cents at $16.60.  Macquarie Group (ASX:MQG) was hammered $1.93, or 5.72%, to $31.82 after warning of a tough fourth quarter.


Wesfarmers (ASX:WES) bucked the trend, up 25 cents at $25.87 and Harvey Norman (ASX:HVN) lost nine cents to $2.51.


The Australian dollar lost a lot of ground falling back to 70 US cents.

AddThis Feed Button
Register here to be notified of Proactiveinvestors One2One Forums.


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.