|
|
|
|
MarketWatch: AIG sparks Wall Street retreat US shares backtracked on Friday after disappointing results and massive writedowns at insurer American International Group reignited credit crises concerns. Sentiment was also hit by soaring crude prices, drowning out positive news from the likes of Activision and Circuit City. |
News & Views  | Westpac, St George in merger talksWestpac Banking Corporation (WBC) said it is in discussions with St. George Bank Limited (SGB) about an all-scrip merger. Both banks this morning asked for trading halts in their shares to allow confidential discussions to continue and for an announcement to be made, possibly within 24 hours. |  | AGL expects FY08 NPAT of up to $360mAGL Energy Limited (AGL) reconfirmed that it expects FY08 full year underlying net profit after tax of between $330 to $360 million. The power retailer said the confirmation was based on a review of earnings for the year to date, including preliminary results for April 2008. |  | BlueScope flags strong second halfBlueScope Steel Limited (BSL) confirmed it remains on target for a stronger second half underlying profit result. In a presentation to analysts, Chief Executive Paul O'Malley said unaudited underlying net profit for the third quarter was $169 million. |  | IBA associate secures $3.7m in contracts |
| EastLink to open 5 months early |
| BG Group given NZ exemption in takeover bid for Origin |
| VITAL SIGNS: HCG, NRT |
| SNIPPETS CORNER: REA, CNP, ASB |
| RESOURCE WRAP: WRK |
 | egoli News Flash: FMG, CWN, ALL, SIP, MQG, CSR, SGX, FER, RIV |
 | Egoli Radio - Enjoy the latest multimedia headlines from Egoli Radio |
 | Egoli Television - Enjoy the latest multimedia headlines from Egoli Television |
 | We initially called ALL a short on break of $9 with a short target of $7. The stock has since had a profit downgrade and was in talks to settle a major class action brought by litigation funder IMF on behalf of investors who allege the company overstated profits six years ago. |  | As the market collapse vents its anger on the heavyweights there is always the mystery of why some stocks remain immune. The importance of acknowledging stock specific price action is not only imperative it can help you make money, and it can also save you some. |  | Today’s quarterly Statement on Monetary Policy suggests the RBA is happy to stay on the sidelines for now. The RBA has upgraded its near-term outlook for inflation and imposed a significant downward revision to its outlook for economic growth. |  | The ASX is preparing for and adapting to a new world where real competition will be introduced for the first time. The threat of competition has prompted changes to and reductions in fees. |  | Banking stocks, and most other financials, retreated on Wednesday. This was reportedly because investors became a little worried again that problems in global credit and debt markets may not be over soon, as some had started to hope for. |  | Supply and demand dynamics are far from the only factor determining whether prices for oil, copper, coal, coffee and rice go up or down. Other factors can at times play at least an equally important role, such as the value of the US dollar and the impact from speculators and financial investors on a particular market. |  | Thinking of taking up T3 instalments? Short-term the telco will need to spend big, which could cap dividend growth. But long-term, it's looking better than ever to be fully re-rated as a growth stock. |  | There's no let-up in the number of new managed funds which continue to appear - in the first three months of this year, we added another 150-odd funds to our database, ranging from those investing in small-cap domestic shares through to global property, emerging markets, and currency trading funds. |  | The Federal Government has signalled that it will not be supporting a draconian approach on the part of the Australian Taxation Office (ATO) with respect to breaches committed by the directors of self-managed superannuation funds (SMSFs). The Minister for Superannuation and Corporate Law, Senator Nick Sherry, said that while the current penalty regime limits the ATO’s options with respect to compliance, he is happy for the tax office to continue non-binding public rulings. |  | Legacy Iron Ore Limited is looking to raise up to $8 million by issuing 32 million shares at 25c per share. Legacy is an Australian exploration company, based in Perth, which has been established primarily to explore for deposits of iron ore and gold. |  | The bear spread can be considered when the investor expects a moderate fall in the market but is not prepared to pay to take a put outright. The strategy consists of the purchase of a put option and the sale of a put option with a lower strike price. |
|
|
|
|
35.5
2.17
