Australian shares surrender early gains as miners extend slump
2013-05-16 08:58:54 GMT : (Markets - Equity/Australia)
SYDNEY: Australian shares reversed gains and ended 0.5 percent lower on Thursday as sliding metal prices weighed on mining stocks, offsetting early leads spurred by new record highs on Wall Street.The S&P/ASX 200 index finished the session 26 points lower at 5,165.7. The index fell 0.6 percent on Wednesday.Gold stocks took a beating after bullion slid below $1,400 an ounce, losing 2 percent an...
TSX drops as China data fuels resources dip
2013-05-13 20:52:03 GMT : (Markets - Equity/Australia)
TORONTO: Canada's main stock index declined on Monday after sluggish Chinese economic data hurt commodity prices and dampened enthusiasm for shares of materials and energy companies.China's factory output growth was surprisingly feeble in April and fixed-asset investment slowed, rekindling concerns that the recovery is stalling.The resource-heavy Toronto market is sensitive to developments...
TSX pushes higher as Magna, Bombardier surge
2013-05-10 20:29:08 GMT : (Markets - Equity/Australia)
TORONTO: Canada's main stock index pushed higher on Friday, capping off a third straight week of gains, as surging shares of manufacturers Magna International and Bombardier Inc helped offset weakness in gold miners.The Toronto Stock Exchange's S&P/TSX composite index ended the session up 45.19 points, or 0.36 percent, at 12,589.09. For the week, the index climbed 1.2 percent.<Cente...
TSX retreats on banks, golds despite Canadian Tire surge
2013-05-09 21:21:19 GMT : (Markets - Equity/Australia)
TORONTO: Canada's main stock index fell on Thursday as weakness in financial and gold-mining stocks overshadowed a jump in Canadian Tire Corp after the retailer unveiled plans to launch a real estate investment trust.Investors also tracked data showing US jobless claims unexpectedly fell in the latest week, dropping to the lowest level in more than five years. That news, coupled with a stronge...
Data lifts TSX to 1-month high as golds surge
2013-05-08 21:57:39 GMT : (Markets - Equity/Australia)
TORONTO: Canada's main stock index jumped almost 1 percent on Wednesday, hitting a one-month high, after strong economic data in China and Germany buoyed hopes for a global economic recovery and boosted the shares of gold producers.Gold shares jumped nearly 6 percent on the back of higher bullion prices, driven by a weaker dollar and robust physical demand. Miner Barrick Gold Corp rose more th...
TSX climbs as banks, consumer stocks provide lift
2013-05-07 21:35:09 GMT : (Markets - Equity/Australia)
TORONTO: Canada's main stock index posted its fourth straight session of gains on Tuesday as strength in financial and consumer discretionary stocks following comments from central bankers indicating their support of growth-oriented policies offset declines in gold miners after bullion prices tumbled.The market received further support after Germany, Europe's largest economy, reported a 2....
TSX extends gains as banks, industrials climb
2013-05-06 23:28:35 GMT : (Markets - Equity/Australia)
TORONTO: Canada's main stock index climbed for a third straight session on Monday as financial and industrial shares gained, and energy companies' stocks rallied after oil prices rose on Middle East tensions.A jump in Penn West Petroleum Ltd also supported the market after the oil and gas producer named two industry veterans to its board.But the market's gains were capped by weakness i...
Australia shares rally on Wall St, miners strong on metals price rally
2013-05-06 05:24:22 GMT : (Markets - Equity/Australia)
SYDNEY: Australian shares rallied 1.1 percent on Monday, buoyed by Wall Street's record highs after a surprisingly robust US jobs report and as metal prices firmed, though weaker-than-expected retail sales figures trimmed gains.Global miners BHP Billiton Ltd jumped 2.9 percent while rival Rio Tinto Ltd soared 3.1 percent as copper rose more than 6 percent on Friday. Small cap miner Mirabela Ni...
Australian shares finish flat ahead of US payrolls; banks retreat
2013-05-03 07:23:18 GMT : (Markets - Equity/Australia)
SYDNEY: Australian shares finished the session largely flat on Friday as investors turned cautious ahead of a key US jobs report while booking profits in financial stocks.Sentiment was also affected by data from China showing recovery in Australia's largest export market remains modest.Westpac Banking Corp, Australia's third-largest lender, led the decline, finishing 1 percent lower after ...
Australian shares fall on weak Chinese PMI, miners falter
2013-05-02 06:33:14 GMT : (Markets - Equity/Australia)
SYDNEY: Australian shares fell 0.7 percent on Thursday, dragged down by miners in a large commodity selloff on news of shrinking industrial activity in China, Australia's largest export market.China's factory-sector growth eased in April as new export orders fell for the first time this year, suggesting the euro zone recession and sluggish US demand may be risks to China's economic rec...
Australia shares seen lower on Wall St fall, commodities selloff
2013-05-01 23:15:20 GMT : (Markets - Equity/Australia)
SYDNEY: Australian shares are set to fall on Thursday after Wall Street stocks dropped as disappointing earnings reports and employment data hurt investor sentiment, while miners may be hit by a selloff in commodities.Local share price index futures fell 0.5 percent, a 29.2-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 0.5 percent on Wednesday.New Zealand's b...
Australian shares soar to highest close since June 2008, ANZ hits record high
2013-04-30 10:05:42 GMT : (Markets - Equity/Australia)
SYDNEY: Australian shares climbed 1.3 percent on Tuesday to close at their highest level in almost five years, led by sharp gains in the financial sector as Australia and New Zealand Banking Group jumped to a record high after a strong earnings report.ANZ, Australia's fourth-largest bank, surged 5.8 percent to an all-time high of A$31.84, after it reported a 10 percent rise in first-half cash ...
Australian shares post highest close in 7 weeks; banks lead
2013-04-29 10:09:41 GMT : (Markets - Equity/Australia)
SYDNEY: Australian shares rose 0.6 percent to its highest close in seven weeks on Monday, led by strong gains in the banking sector as investors chased high yielding stocks in a session characterized by some caution after Friday's disappointing US first-quarter growth figures.Westpac Banking Corp posted the largest gain in the sector, jumping 1.7 percent while top lender, the Commonwealth Bank...
Australia shares seen firm; US data, metals gains
2013-04-25 23:36:45 GMT : (Markets - Equity/Australia)
SYDNEY: Australian shares are poised for a firm start on Friday tracking positive sentiment on Wall Street on stronger-than-expected earnings and a large drop in weekly jobless claims. Major mining stocks could lend support to the market on strong metals prices.BHP's shares are poised to open 2 percent higher, based on trading in BHP ADRs on Wall Street.Stock index futures rose to 5,127, a 12 ...
Australian shares rally, banks soar; CPI data raise hopes of more rate cuts
2013-04-24 05:31:13 GMT : (Markets - Equity/Australia)
SYDNEY/WELLINGTON: Australian shares jumped 1.3 percent in midday trade on Wednesday, as banking stocks soared and as benign inflation data strengthened the case for more interest rate cuts.Financials were led higher by Westpac Banking Corp climbing 2.1 percent to A$32.36 and top lender the Commonwealth Bank of Australia advancing 2 percent to A$71.45. Both stocks were at an all-time high."It'...
Australia shares seen edging up; China manufacturing data in focus
2013-04-22 23:50:05 GMT : (Markets - Equity/Australia)
SYDNEY: Australian shares are set to open slightly higher on Tuesday after Wall Street stocks rose, with investors awaiting Chinese manufacturing data for further indication of the growth outlook for the world's second-largest economy.Local share price index futures rose 0.3 percent to 4,972.0, a 5.4-point premium to the underlying S&P/ASX 200 index close on Monday. The benchmark climbed 0...
Australia shares end up on strong banks, miners; await key data
2013-04-22 09:10:19 GMT : (Markets - Equity/Australia)
SYDNEY: Australian shares closed 0.7 percent higher on Monday as major miners and banks advanced on short-covering and as gold prices rebounded, but buyers were cautious ahead of key economic reports after a recent run of weak data suggested the global economic recovery may have stalled.The big four banks all ended higher, led by Australia's biggest lender Commonwealth Bank of Australia rising...
FTSE hits 10-week closing low on growth concerns
2013-04-17 21:01:02 GMT : (Markets - Equity/Australia)
LONDON: Britain's top share index slipped to a 10-week closing low on Wednesday, pulled down by resource stocks on mounting concerns that global growth could weaken, hurting demand for commodities.The FTSE mining index fell 3.1 percent, the biggest sectoral decliner, followed by the oil and gas index , down 1.8 percent as investors dumped the sectors after recent economic data from China and t...
Australian shares rally as banks lead gains, Telstra hits 5-year high
2013-04-17 06:35:22 GMT : (Markets - Equity/Australia)
SYDNEY: Australian shares rebounded 1.1 percent on Wednesday, with the mood bolstered by recovering risk appetite and data from the United States that reinforced expectations the Federal Reserve will keep its stimulus plan in place.Financials underpinned the market. Top lender the Commonwealth Bank of Australia rallied 1.7 percent while Westpac Banking Corp climbed 1 percent.Telstra jumped 2.8 per...
TSX falls 2.7pc on black day for gold miners
2013-04-15 21:06:34 GMT : (Markets - Equity/Australia)
TORONTO: Canada's gold miners plunged on Monday, dragging the country's main stock index to a five-month low as weaker-than-expected Chinese data prompted a wholesale retreat from bullion and a string of commodities.The Toronto Stock Exchange's S&P/TSX composite index unofficially closed down 332.71 points, or 2.70 percent, at 12,004.88.That was its sharpest one-day fall since June...