Sharemarket and Market Trading News

Read the latest Australian sharemarket trading and Australian Business news.

Bank of England is Steady on Interest Rates

The Bank of England has held their interest rates steady at 4.5 per cent for the sixth month in a row, a decision widely expected by financial markets. There was no change and no surprise to the markets given there was evidence of modestly stronger economic activity and a more robust housing market in England as of late. The British Pound steadied following the release of the rate decision details after the Pound had dipped earlier in the trading session on disappointing British trade data.

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Resources Hope: Greed and Fear

With the fall in Oil and Gold recently some traders have probably undertaken some profit taking strategies. There is still Hope for the Resources sector - the fall was governed by no more than "Fear" and "Greed". There may be more volatility in the forthcoming market sessions with fingers pointing to an amount of speculative money that was driving up oil, gold and base metals prices in the beginning of 2006. GSJB Were reckons not to lose hope on the resources sector.

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Oil Prices Fall: Bookings Rush for Road Trips

Yes! Book your Road Trips Now. Oil prices have fallen sharply overnight as market traders' concerns eased over the stalemate over Iran's nuclear energy program and the market is awaiting US supply data. New York light sweet crude (delivery March '06) fell $US2.02 to close at $US63.00 per barrel. In London, the price of Brent North Sea crude for March delivery dropped $US1.77 to $US61.56 per barrel in closing trade. Worries of supply disruption have eased but still not dismissed - if ever the situation escalates quickly, expect the oil prices to jump.

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ASX February 2006 Dividend Schedule

Here is a basic rundown of the ASX February 2006 Dividend Schedule. Further Dividend information can be found by going to www.asx.com.au searching for your stock quote and looking up their dividend.

APR Fund (APR) ex-dividend date 06 Feb 2006 with pay date 16 Feb 2006 is paying 1.33 cents with 0% franking.

Advent (ADT) ex-dividend date 06 Feb 2006 with pay date 20 Feb 2006 is paying 39.79 100% franking.

Fiducian (FPS) ex-dividend date 09 Feb 2006 with pay date 22 Feb 2006 is paying 2.80 cents with 100% franking.

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Oh crap, We Made Too Much Wine: McGuigan Simeon

McGuigan Simeon, Australia's second largest wine producer has warned that this years grape harvest may be another record crop. It may be good news for the primary growers but some wine makers are still hurting from last year's record crop. McGuigan Simeon's managing director say that "There's a possibility of that, although [the hot weather] hasn't been sustained in the last week - the weather has been temperate," Brian McGuigan said. "Nevertheless, there's a huge crop this year. There's no doubt it's ripening earlier than it has been previously."

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US Fed Reckons There are Further Rate Hikes in Future

The US Fed Reserve has raised interest rates for the 14th time by 25 points to 4.5 per cent. The Fed has also signaled that there is a prospect for further rate hikes to come. It was the final meeting with Greenspan who is 79 and retiring as chairman after 18 years. The new chairman is the US Senate voted White House economic advisor Ben Bernanke.

"Although recent economic data have been uneven, the expansion in economic activity appears solid," the FOMC said in a statement.

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Weekend $AUD Price Action and Look Ahead

At 7am (AEDT), the Aussie dollar was trading at US75.02¢ slightly below Friday's close of US75.19¢. And since Friday, it hit a low of US74.90¢ and a high of US75.45¢. Aussie dollar continues to trade within a tight range.

The US dollar fell in value as a result of a much weaker Gross Domestic Product (GDP) expansion rate of 1.1% annual rate as investors expected more. And so the US dollar was sold off. The the next figures to be received by the market was better than expected Personal Consumption Expenditures (PCE) component.

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