Sharemarket and Market Trading News

Read the latest Australian sharemarket trading and Australian Business news.

This may be yesterdays news but its nice to keep a record of news reports that really influence huge shifts in market mood and opinion. What happened in Japan a few days ago is one example of how market sentiment can heavily sway market price. Keep this reference in mind when you trade!

"Shares in Zinifex (ZFX) have plunged by over 10% in morning trading after the zinc miner disclosed that the mine plan for Century is under review and that cost increases are inevitable. The following note provides a brief overview of Macquarie Research Equities’ (MRE) initial thoughts on the announcement."

Had a look at the chart... Such a nice graph... At July 2005 it was $3 and was fetching $8.22 yesterday before the drop.

Oil Prices rose to a 3 month highs in London and New York each market quoting a price over $US 64 and $US 65 respectively because of rising geopolitical tensions in Iran and Nigeria.

New York's main contract, light sweet crude for delivery in February, jumped $US1.46 to $US65.38 per barrel in electronic dealing. It had earlier climbed to $US65.53 - the highest since October 3, 2005.

In London, the price of Brent North Sea crude for March delivery rose US95¢ to $US64.13 per barrel. The February contract had expired on Monday at $US62.93 per barrel.

"The Australian Bureau of Statistics said the total value of finance for houses dropped to $18.3 billion during the month."

For traders the ramifications In my opinion are minor - but it's nice to know. The economy doesn't rely on one indicator to tell us at what level it is. But in an economic sense it could be seen as a slowing down of the property market, and nothing more - perhaps a knock on effect that people are buying less houses could mean they are hesitant to or there's enough houses in the market... who knows? One can only speculate.

Merchant House International (MHI) which runs factories in Hong Kong and China, goes ex-div for one-cent unfranked interim dividend this Friday (20th), payable on 31 January.

The Australian dollar opened firmer on today following a fall in the US currency on weaker data and renewed Euro strength.

At 7am (AEDT), the local unit was trading at US75.49¢, above Friday's close of US75.13¢. At noon it is hovering around the US75.70¢ mark.

Capitalist Pirates in Shanghai China - think carefully before launching a production factory campaign in China: Terry Petty and his Chinese representatives thought the terms were ridiculous. So starts the capitalist pirate story...

An American investor, Petty had forged a venture with the son of a local Communist Party official to open a machine shop here in the industrial outskirts of China's most cosmopolitan city.

But after two years of internal disputes, the venture had disintegrated. The local man was urging Petty's people to sign a contract selling him their stake and surrendering full control. They would not go along.

But even as the negotiations proceeded on this September afternoon, the local partner was mobilising to seize the factory: a team of 15 men - many with shaved heads and dressed in black - arrived at the plant, according to managers. They told the workers that they were now in charge and ordered production to cease.

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