MF Global

02/01/09 SPI Range Estimate - 3688- 3780.

2nd January, 2009.

SPI Daily Range Estimate.

3688 - 3780.

Announcements


	Jail Madoff without bail: prosecutors Prosecutors say disgraced financier Bernard Madoff violated bail conditions by mailing jewelry and other assets to relatives and should be jailed without bail. Services activity shrinks for 9th month A gauge of Australia's services industry posted a slight increase but activity shrank, albeit at a slower pace, for the ninth consecutive month in December. Britain to lift short selling ban Britain's financial services regulator says it will lift a ban on the short-selling of shares in scores of financial companies later this month. NY begins purchasing mortgage securities The Federal Reserve Bank of New York says it has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market. White Energy eyes coal upgrade facility White Energy Company's US subsidiary has signed an agreement to develop a coal upgrading facility to increase energy efficiency and lower emissions. Stocks to watch Stocks to watch on the Australian stock exchange on Tuesday: Local stocks expected to open firmer The Australian stock market is expected to open in positive territory after the oil price rose above $48 a barrel. World disputes push oil prices up Israel's ground offensive in Gaza and a dispute between Ukraine and Russia over gas imports pushed oil prices above $US48 a barrel Monday. $A opens firmer, lifted by oil The Australian dollar has opened firmer, gaining support from a higher oil price and expectations of more rate cuts by the European Central Bank. Dow falls on Wall Street Caution has returned to Wall Street as investors gave back some gains from last week's rally. Range Resources bid to raise up to $1.5m Junior oil and gas explorer Range Resources Ltd aims to raise up to $1.5 million through a non-renouncable rights issue to fund activities in Africa. IPOs to decline again in 2009: report The number of IPOs is expected to decline further in 2009 as the financial crisis continues to make it difficult to access capital markets, Ernst... Obama, lawmakers to discuss finance plan US President-elect Barack Obama will meet with key congressional leaders to discuss a multi-billion-dollar economic stimulus plan Democrats hope to pass. NAB keeping quiet on UK banks sale National Australia Bank is keeping mum over whether it will offload its UK assets as chief executive Cameron Clyne prepares to update its strategic direction. $A closes higher on investor optimism The Australian dollar closed higher on Monday, as a more optimistic mood among investors lifted the currency above $US0.7100. PanAust shares up after debt rolled over Shares in PanAust leapt on news it had improved its debt position by rolling over an $US80 million subordinated debt facility for about 15 months. Australian stocks close lower The Australian stock market closed lower on Monday as profit-taking investors wiped off early gains. Stocks to watch at close Stocks to watch on the Australian stock exchange at close of trade. No RBA meeting expected for January Borrowers will have to wait until February for more mortgage relief with the central bank unlikely to have an unscheduled board gathering, economists say. Mill setback hits Gunns share price Shares in woodchipper Gunns Ltd have fallen sharply after the federal government declined full approval for Gunns' $2.2b pulp mill in Tasmania's Tamar Valley. Gillard asks bosses to rethink sackings Employers will be reluctant to fire workers this year due to recent labour shortages, a leading industry group says. Wall St braces for 2009 first full week Wall Street opens for trading on Monday at a two-month high as investors have grown more optimistic that the worst of the market's rout might... Stocks begin week in positive territory The Australian sharemarket was in positive territory at noon, buoyed by the resource sector, after Wall Street made an optimistic start to 2009. $A higher at noon, bonds weaker The Australian dollar was stronger at noon, reaching a two-and-a-half-month high, as a more optimistic mood among investors supported the currency. Po Valley shares soar after gas sale Shares in Po Valley Energy soared on news it has secured its first gas sales deal, worth about $78 million, for production from its gas... Nickel, copper, tin prices up Nickel soared almost 16 per cent on Friday on buying ahead of annual rebalancing by commodity indices, while copper rose and tin jumped more than... Manhattan gets nod for MYOB takeover bid Manhattan Software Bidco's takeover offer of MYOB Ltd has received 90.18 per cent shareholder approval, triggering a lift in the offer price. Commodities, equities push $A higher The Australian dollar has opened higher, as firmer equity markets and stronger commodity prices boosted high-yielding currencies such as the Aussie. Oil price up but gold edges lower Energy prices rebounded on the Nymex, boosted by expectations that oil exporting countries will carry out its largest production cut ever. Local market expected to open higher The Australian stock market is likely to open higher after Wall Street rose almost three per cent in the first day of trade for 2009. Markets begin new year on a high Wall Street started off the new year optimistically. On Friday, investors brushed off a weaker-than-expected report on manufacturing, sending US stocks higher.