MF Global

09/02/10 - SPI Range Estimate 4426 - 4478

09 February 2010

SPI Daily Range Estimate: 4426 - 4478.

MF Global Australia Limited AFSL 230563 | ABN 50 001 662 077
Copyright © MF Global Australia Limited. All Rights Reserved. Disclaimer | Privacy Policy | Terms of Use


	Market Wrap Across Asia, all regional markets are in positive territory, with gains led by material producers and energy stocks, after confidence was boosted by solid US... RBA rates rises kept system stable: BIS Increases to interest rates by the Reserve Bank of Australia earlier in this decade helped maintain stability in the financial system, a BIS official says. Financial stability the challenge: RBA Ensuring the stability of the financial system will be one of the major challenges in this decade and beyond, Australia's central bank officials say. OZ Minerals positive about Prominent OZ Minerals says its Prominent Hill copper and gold mine in South Australia will likely deliver a net profit of $190 million to $210 million... Woodside JV partners ratify LNG hub site Woodside Petroleum Ltd's Browse Basin joint venture partners have agreed to the oil and gas giant's selection of James Price Point for an LNG processing... Dollar lower at noon, bonds firmer The Australian dollar was lower at noon, as weak equity markets dragged high-yielding currencies such as the Australian unit down in morning trade. Sharemarket down 1% at noon The ASX was suffering from broad-based weakness in trading by noon, with European sovereign debt concerns proving a counter to positive local results. Stocks to watch Stocks to watch on the Australian stock exchange at noon. Challenger Diversified posts $13.7 million loss Challenger Diversified Property Group has posted a first half net loss of $13.7 million after property writedowns and revaluations. Europe faces years-long debt grind Is there any way out of Europe's debt morass? Becton sees another H1 loss for 2009/10 Becton Property Group Ltd expects to report another loss for the first half of its financial year. Alumina unveils $26m loss in 2009 Alumina Ltd, minority partner of the AWAC group, has blamed the global financial crisis after revealing a $26 million net loss in 2009. Optus user growth drives Q3 profit rise Optus has managed to hold on to its position as the nation's No.2 telco after reporting a 16 per cent jump in net profit for... Australand profit down 31% Australand Property Group has posted a 31 per cent fall in calendar 2009 operating profit and says it expects to see a similar result this... Cochlear expects FY10 growth of 15% Hearing implant company Cochlear Ltd expects its net profit for fiscal 2010 to grow at least 15 per cent as it continues to roll out... David Jones hints at dividends increase Luxury department store David Jones Ltd says it may increase dividends as profits improve. Bradken H1 profit falls 26.4% Mining and engineered products provider Bradken Ltd is looking forward to an improvement in trading conditions after a sharp decline in first half profit. Macquarie shares slump 6% Macquarie Group Ltd shares fell about six per cent after the investment bank disappointed investors with a cautious profit forecast and short term outlook. Reckon reports 20% increase in profit Software group Reckon Ltd has reported a 20 per cent increase in annual net profit and announced a share buy back. Aussie market to open lower The Australian stock market has received a mixed set of leads from overseas markets, with Wall Street's main indices themselves mixed but oil prices higher. US stocks close below 10,000 US stocks were lower but trading in a tight range as investors remained wary about the strength of the economic recovery and mounting sovereign debt... Dollar opens slightly higher The Australian dollar opened slightly higher on Tuesday as currencies remain in narrow ranges in subdued trade. Stocks to watch Stocks to watch on the Australian stock exchange on Tuesday. Energy prices climb amid US winter storm Oil and other energy prices climbed as another winter storm was expected to dump even more snow on the US east coast and lift demand... Wall Street lower in hesitant trade US share prices swung lower in opening trade on Monday as markets reopened after a rocky week for global bourses amid fears of debt problems... India sees 7.2 percent growth India's economy should expand by 7.2 per cent this fiscal year, the government forecast on Monday, as growth heads back to the robust levels seen... Cold weather drives energy prices up Energy gas prices climbed on Monday as another winter storm was expected to dump even more snow on the US East Coast. Investment expectations on the rise Capital investment expectations for the June quarter have risen to the highest level in seven years, a survey shows. Xstrata sees renewed commodities boom Xstrata reported a 41 per cent drop in its annual profit in 2009 and pinned its hopes on a renewed boom in commodities demand in... Big banks 'to retain AA credit rating' The big four banks will retain their double-A ratings following the government's decision to withdraw the wholesale funding guarantee, Standard & Poor's says. Dollar closes lower after lack of leads The Australian dollar closed slightly lower after few domestic or overseas leads. Xstrata stops production at Tahmoor mine Xstrata Coal will stop production at its Tahmoor mine in New South Wales and lock-out the operation's employees for one week due to ongoing strike... BHP, Rio to show financial crisis damage The fallout from the global financial crisis is expected to be seen dragging on the profits of mining giants BHP Billiton Ltd and Rio Tinto... Petrol prices still falling: survey Despite a falling Aussie dollar, the petrol price has continued to drop, with the national average cost of unleaded now $1.24 a litre. Stocks to watch Stocks to watch on the Australian stock exchange at close. NAB talks with AXA SA can proceed The way is open for NAB to negotiate with AXA SA for the takeover of AXA APH, after AMP's exclusivity agreement with the French life... CBio hopes to list on ASX on February 10 Brisbane-based drug developer CBio Ltd expects to list on the Australian stock exchange (ASX) next week after raising $7.1 million through a public share sale. Market gains ahead of BHP, CBA earnings The Australian share market has closed marginally higher ahead of key earnings reports by heavyweights BHP Billiton, Rio Tinto and CBA later in the week. CBA funding will be key to future growth Analysts will want to see how Commonwealth Bank will diversify its funding sources to maintain growth, when it announces its first-half results on Wednesday. Doray Minerals makes flat ASX debut Gold explorer Doray Minerals Ltd has made a flat debut on the Australian stock exchange before backtracking by half a cent. LNG boosts Santos oil and gas reserves Santos Ltd has increased its oil and gas reserves to record volumes, driven by the growth of its liquefied natural gas (LNG) portfolio. Portfolio Watch: Gold Stocks to Sparkle on Rising Bullion Price This broker thinks gold will hit $US1500 an ounce before year end, lending support to a host of Aussie gold miners. Aussie dollar higher at noon The Australian dollar was higher at noon, bolstered by a lift on equity markets. 18 Share Tips - 8 February Broker Stock Recommendations - 6 to BUY, 6 to SELL and 6 to HOLD Stocks higher at noon The Australian share market was moderately higher at noon following mild gains on Wall Street.