MF Global

03/09/10 - SPI Range Estimate 4522 - 4570

03 September 2010

SPI Daily Range Estimate: 4522- 4570.

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	Heemskirk gives up NQM takeover plans Conquest Mining Ltd is in the box seat to acquire North Queensland Metals Ltd (NQM) after a rival suitor gave up its bid. $A higher on China FX rumours The Australian dollar was higher on rumours China could diversify its currency reserves into commodity currencies. Stocks to watch Stocks to watch on the Australian Securities Exchange at noon: Aust stocks higher at noon The Australian stock market was higher at noon, after losing some ground with all four major banks falling into negative territory. Fortescue rejects Leucadia claims Mining company Fortescue Metals Group Ltd has rejected a claim for damages from its third largest shareholder in relation to a 2006 loan agreement. Telstra to sell SouFun stake in IPO Telstra Corporation Ltd says it will sell its 50.5 per cent share in SouFun Holdings after the Chinese website's initial public offering (IPO) later this... Services sector sluggish, stimulus wanes Activity in the services sector was "sluggish" in August, rising slightly in the wake of the gradual withdrawal of fiscal stimulus, a report shows. S&P's concerned about Nufarm's liquidity Nufarm has been placed on credit watch by ratings agency Standard & Poor's on concerns about its rising debt and future profitability. Accept Paladin bid, NGM tells investors Minerals explorer NGM Resources has advised shareholders to accept a takeover bid from Paladin Energy. Gold up as investors brace for jobs Gold rose on Thursday, settling slightly higher as investors set positions ahead of the key US employment report which may boost demand for safe-haven assets. Oil prices rise on economic reports Oil prices ended higher on Thursday after an initial retreat as investors put a positive spin on reports about jobs, manufacturing and home sales. Stocks rise on positive economic data Stocks rose and extended their gains, after reports on housing, manufacturing and jobs all indicated that the economy continues to grow. Bernanke says close unstable banks Federal Reserve Chairman Ben Bernanke says regulators must be ready to shut the largest institutions if they threaten to bring down the financial system. $US lower before Friday's US jobs data The dollar fell against other major currencies on Thursday ahead of a key US jobs report. Smaller trade surplus impresses experts The $1.9 billion monthly trade surplus for July is impressive, even though it was well short of expectations and the record $3.4 billion posted in... ABC founder Eddy Groves to sue broker Eddy Groves, the founder and director of collapses childcare group ABC Learning Centres Ltd, is seeking to sue share broker Austock Group. Origin part of geothermal consortium Origin Energy says a consortium it belongs to has won a geothermal exploration concession in Indonesia. Metcash chairman goes, CEO to go in 3yrs Metcash Ltd has farewelled its chairman of 12 years, after the grocery and liquor wholesaler posted a record profit in the face of strong competition. Aussie companies named in Forbes list Thirteen Australian companies have been named as part of Forbes Magazine's "best under a billion" list of top performing companies worth under $US1 billion. $A higher despite weak trade data The Australian dollar closed a higher, after it held onto most of its overnight gains. Big corps turn overseas for funds Big Australian corporates are turning to global banks and bond markets to fund their offshore expansion because local banks lack scale, Finsia says. Coles to provide growth opportunities Coles will continue to provide Wesfarmers with opportunities for growth while the conglomerate looks to lift its return to shareholders. Stocks to watch Stocks to watch on the Australian Securities Exchange at close. Aust stocks continue strong gains The Australian share market has posted a second successive day of good gains with all sectors showing strength. Cougar shares plunge on talk of collapse Shares in Cougar Energy plunged to their lowest value in more than three years amidst talk of collapse as the company resumed trading on the... Fairfax appoints two new directors Fairfax Media Ltd says it has completed the process of board renewal with the appointment of two new directors with media experience. Atlas expansion plans boosted by study Atlas' expansion plans got a boost after it announced positive pre-feasibility study results for a centralised processing and haulage hub it plans to build. Number of job vacancies unchanged in Aug The number of jobs on offer nationwide was unchanged in August following a surge in July, after retail sector hiring stalled. Fans to spend big on footy finals Watching your team win a grand final might be priceless, but the associated eating, drinking and betting will pump half a billion dollars into the... Countplus makes last buy before float Count Financial has settled the 17th takeover for subsidiary Countplus, which the accounting firm is preparing to spin off in a separate listing in December.