Financial Markets

Beach Energy (BPT)

22 May 2012 | Angela Macdonald-smith

Mid-cap oil and gas play Beach Energy is trading near a seven-month low amid uncertainty about the prospects for a partnership for its shale gas interests in the Cooper Basin.

Sonic (SHL)

22 May 2012 | Carrie LaFrenz

Australia’s largest pathology operator, Sonic Healthcare, has consolidated its position in the market after last week buying NSW/ACT, Queensland and West Australian pathology businesses from Healthscope for $100 million.

ASX ends up 1.2pc on renewed hopes

22 May 2012 | Brendon Lau

The market rallied for a second straight day on Tuesday on hopes that China will undertake measures to stimulate its slowing economy and on positive overnight leads out of the US and Europe as fears over the euro zone debt contagion took a back seat.

Stocks to watch at close on Tuesday

22 May 2012 |

Stocks to watch on the Australian stock exchange at close on Tuesday, May 22

Late charge sees shares end on bullish note

22 May 2012 | Peter Wells

Australian shares ended the session on a bullish note, effectively closing at the session’s highs. The Australian dollar gained a third of a cent in the hour leading up to the sharemarket’s close.

Bonds, shares buck trend and rise together

22 May 2012 | Philip Baker

There’s a growing disconnect between shares and government bonds. Usually when bond prices rise, share prices fall. This time around however, both bond prices and share prices are rising in concert.

Australian shares up more than 1pc at close

22 May 2012 |

Updated | Australian shares closed more than 1 per cent firmer, thanks to stronger energy and resources stocks and positive offshore leads. The S&P/ASX200 index was up 1.2 per cent at 4122.6.

$A higher on optimism over EU meeting

22 May 2012 | Jo Heath

The Australian dollar consolidated its small rebound on Tuesday, ahead of a meeting of European Union leaders set for Wednesday night Australian time.

Brent steady ahead of EU summit, Iran talks

22 May 2012 |

Brent crude held steady near $US109 on Tuesday, awaiting the results of two meetings to tackle Europe's debt crisis and Iran's nuclear programme, which could determine the future of global oil demand and supply.

Death penalty for fundraising fraud

22 May 2012 | Lucy Gao

The Higher People’s Court in East China’s Zhejiang Province handed businesswoman Wu Yinga the death penalty with a two-year reprieve for fundraising fraud, after a retrial.

$A higher as optimism over Europe grows

22 May 2012 |

The Australian dollar is higher as hopes grow that Greece will stay in the euro zone and after G8 leaders pushed for a pro-growth strategy to solve the continent's debt crisis.

Energy stocks power sharemarket rally

22 May 2012 |

Updated | The local sharemarket climbed almost 1 per cent on Tuesday thanks to strength among energy and resources stocks following positive leads from offshore markets.

Stocks to watch at noon on Tuesday

22 May 2012 |

Boral ■ GrainCorp ■ Leighton Holdings ■ Qantas Airways ■ Thorn Group

Crude edges up, stays above $US92; Iran talks eyed

22 May 2012 |

US crude inched up on Tuesday, extending gains from the previous session when prices snapped out of a six-day losing streak on hopes Beijing would take action to stimulate growth.

Nikkei firms as investors pick up laggards

22 May 2012 |

Japan's Nikkei share average rose in early trade on Tuesday, continuing Monday's technical correction as investors picked up bargains after last week's flurry of aggressive selling.

Gold flat, investors await euro zone meeting

22 May 2012 |

Gold traded little changed on Tuesday, as investors await a European Union summit that is expected to discuss fresh action to solve the region's debt crisis that has been threatening global growth.

Oil prices surge on bargain hunting, Iran

22 May 2012 |

Oil prices have surged on Monday, rebounding from last week's multi-month lows on speculative buying and as concerns resurfaced over supplies from the crude-rich Middle East, particularly from Iran.

Pressure builds on corporate loan pricing

PRINT: Capital | 22 May 2012

Australian companies are sitting out of the debt markets for now but eventually they will have to refinance debt, and face banks nervous to protect net interest margins.

Shares rally on hopes for Europe

22 May 2012 | James Carlisle

Updated | The local sharemarket was 0.7 per cent higher on Tuesday, after an overnight rally in US and European stocks on hopes that European leaders will agree policies to help stimulate growth.

Video | Chanticleer: how to pick stocks

22 May 2012 |

Chanticleer columnist Tony Boyd on why picking stocks well is so hard to do well, and which major players are taking on – or abandoning – the task.

France’s Hollande focuses on EU growth

22 May 2012 |

French President Francois Hollande said he wanted all options discussed to stimulate growth in Europe when EU leaders meet later this week.

China gets direct line to buying US Treasuries

22 May 2012 |

China can now bypass Wall Street when buying US government debt and go straight to the US Treasury, in what is the Treasury’s first-ever direct relationship with a foreign government

Euro rebounds vs US dollar ahead of EU meeting

22 May 2012 |

The euro edged higher against the US dollar on Monday as traders paused after driving the common currency to a four-month low and awaited a meeting of euro zone leaders this week.

Investors raise €60bn to buy European bank assets

PRINT: Capital | 22 May 2012

About €60 billion has been raised to buy so-called noncore loan assets currently held by European banks, according to the accounting firm PricewaterhouseCoopers.

$A passes 99 US cents as optimism returns

22 May 2012 |

The Australian dollar has headed back above 99.00 US cents amid optimism that a new approach to the euro zone government debt crisis will work.

Wall St surges 1pc, even as Facebook slumps

22 May 2012 |

US stocks rose more than 1 per cent on Monday, with the S&P 500 snapping a six-day losing streak in a rebound from equities’ biggest weekly drop in almost six months.

Investors un-friend Facebook as reality sets in

22 May 2012 | Chuck Mikolajczak

Facebook shares sank 11 per cent in the first day of trading without the full support of the company's underwriters, leaving some investors to switch back to more established stocks such as Apple.

Gold eases after failing to breach $US1600/oz

22 May 2012 |

Gold prices slipped on Monday after early buying failed to lift prices past $US1600 an ounce, with investors still cautious about the precious metal,

US benchmark notes ease on profit-taking

22 May 2012 |

Benchmark US Treasuries eased in price on Monday as investors took profits after a recent rally that was sparked by fears over a worsening of the European debt crisis.

Germany, France pledge to keep Greece in euro

22 May 2012 |

Germany and France have pledged to do whatever is necessary to keep Greece in the euro fold, as political turmoil in the debt-wracked country threatens to force it out of the club.

Snapshot: Dow ends up 1.1pc, Nasdaq up 2.5pc

22 May 2012 |

US stocks rose on Monday to snap a six-day losing streak on the S&P 500, rebounding from equities’ biggest weekly drop in almost six months.

JPMorgan suspends $US15bn stock buyback

22 May 2012 |

Updated | JPMorgan Chase boss Jamie Dimon is suspending plans to buy back the embattled company’s own stock, but it will still pay a dividend despite its $US2 billion trading loss.

Equities, $A rally on assurances from world leaders

22 May 2012 | Brendon Lau

Before the Bell | Global stocks rebounded and the euro steadied after world leaders emphasised their support for economic growth in the euro zone ■ S&P up 1.6pc ■ Facebook slides 11pc ■ SPI up 33pts ■ $A up three quarters of a cent to US99.09¢.

Snapshot: Apple paces 2pc rise in Nasdaq

22 May 2012 |

The Nasdaq climbed 2 per cent on Monday as US stocks rebounded from their worst week in a year while investors dumped newly floated shares in Facebook and redeployed capital to more established names such as Apple.

Europe stocks rebound from five-mth low

22 May 2012 |

European equities rebounded from five-month lows on Monday, with investors seeing value after the steep retreat to five-month lows.

Bunds hold close to record highs

22 May 2012 |

German government bond prices held close to record highs on Monday as investors fretting that Greece may have to leave the euro zone pursued their flight to assets from the bloc’s strongest economy.

Rebound a tribute to wishful thinking

22 May 2012 | Glenn Mumford

PRINT: 22 May 2012 | PAGE 5 | Bounce a tribute to wishful thinking

It’s always tempting to play for the bounce. So after three weeks of selling, investors again seem willing to buy risk.

Lloyd girds loins to face board of Perpetual

22 May 2012 | Sarah Thompson

PRINT: 22 May 2012 | PAGE 22 | Lloyd girds loins to face board of Perpetual

Perpetual’s poaching of well-regarded industry veteran Mark Smith from BT comes at an ideal time for the wealth management giant’s boss Geoff Lloyd.

Lend Lease spreads show credit rating under pressure

22 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 22 May 2012 | PAGE 22 | Lend Lease spreads show credit rating under pressure

The jitters have returned to credit markets and, as ANZ chief Mike Smith reminded us, bank funding markets are slamming shut. It’s worth paying attention to the pressure being applied to industrial corporate spreads implied by rising credit default swap spreads. A notable underperformer in a week when the cost of insuring every Australian corporate increased was construction firm Lend Lease.

Local shares face heavy fallout from Greek exit

22 May 2012 | Joanna Heath

PRINT: 22 May 2012 | PAGE 5 | Euro crisis leaves ASX exposed

The Australian market is particularly vulnerable to the global fallout of a Greek exit from the euro zone despite a lack of direct trading links to the troubled nation, strategists say.

US might reach its own bang point

22 May 2012 | Philip Baker

PRINT: 22 May 2012 | PAGE 21 | US may be on Greek path to its own bang point

Baker | The US has too much debt, and has not restored its savings rate. If this continues, the US might reach its own bang point.

Strategists warn against $A optimism

22 May 2012 | Joanna Heath

PRINT: 22 May 2012 | PAGE 29 | Strategists warn on $A optimism

The Australian dollar managed to snap a six-day losing streak on Monday following the weekend’s Group of Eight summit, but strategists say the bump may be short-lived.

Traders turn owls to keep a pip ahead

22 May 2012 | John Wasiliev

PRINT: 22 May 2012 | PAGE 5 | Traders turn owls to keep a pip ahead

Derivative traders are being turned into evening owls as foreign exchange activity attracts more attention since the $A’s plunge below parity to the American dollar.

CBA shrugs off funding worries

22 May 2012 | John Kehoe

PRINT: 22 May 2012 | PAGE 1 | CBA shrugs off funding worries

Commonwealth Bank of Australia group treasurer Lyn Cobley says European funding markets are open for high quality Australian banks, despite renewed concerns over Greece’s sovereign debt problems.

Doubters give up on Leighton

22 May 2012 | Jenny Wiggins

PRINT: 22 May 2012 | PAGE 2 | Doubters give up on Leighton

Some of Leighton Holdings’ biggest investors have been selling shares in the troubled contractor, which has appointed a former Grupo ACS executive, Marcelino Fernández Verdes, as an alternate board director.

Facebook shares fall 11 per cent in early trading

22 May 2012 |

Facebook shares opened below their $US38 issue price on Monday as support from underwriters of the initial public offering dissipated after its Friday debut.

Toll Holdings (TOL)

21 May 2012 | Jenny Wiggins

PRINT: 18 May 2012 | PAGE 39 |

Toll Holdings’ investors have been brought back to earth with a thud after the logistics group slashed its full-year profits guidance, citing weak global markets, and said it would consider selling some of its businesses.

OM Holdings (OMH)

21 May 2012 |

PRINT: 21 May 2012 | PAGE 39 |

Manganese miner OM Holdings’ share price has started to show a sign of a rebound, rising by more than 30 per cent since the year began due to an early indication of a rise in the price of the metal.

Nikkei ends up 0.3pc on G8 reassurances

21 May 2012 |

Japan's Nikkei average inched up on Monday, with short-covering prompting a recovery from the sharp losses of the previous session, and a call from world leaders for Greece to remain in the euro zone helping to soothe investors' jitters.

Rebound at mercy of data flow

21 May 2012 | Bianca Hartge-Hazelman

PRINT: 22 May 2012 | PAGE 5 | Rebound at mercy of data flow

Respite from European worries gave investors reason to head back in the market despite last week’s carnage. But pending news on Chinese manufacturing activity could put a further dampener on sentiment.

$A flat in uncertain market

21 May 2012 |

The Australian dollar is struggling around six-month lows reached at the end of last week as the market faces uncertainty.

ASX closes 0.8pc higher

21 May 2012 |

After big drops last week, Australian shares have closed around three-quarters of a per cent higher on Monday. The benchmark S&P/ASX200 index was up 31.6 points, or 0.78 per cent, at 4078.1.

Gold edges up but Europe concerns remain

21 May 2012 |

Gold inched up on Monday to extend last week's rise, tracking a steady euro after world leaders pledged to combat financial turmoil, although worries about Greece and the euro zone debt crisis continued to feed caution in the financial markets.

$A slightly higher as pessimism wanes

21 May 2012 |

The Australian dollar is bouncing back from six-month lows reached at the end of last week as the market mood improves.

Shares give up morning’s gains

21 May 2012 |

Updated | Australian shares were slightly higher on Monday afternoon, with resource stocks advancing in the wake of a call by China’s premier for additional efforts to support growth.

Stocks to watch at noon on Monday

21 May 2012 |

Stocks to watch on the Australian stock exchange at noon on Monday include Campbell Brothers, Elders, James Hardie Industries, Orica, Qantas Airways, Toro Energy and BHP Billiton.

Nikkei recovers on hopes Europe will act

21 May 2012 |

Japan’s Nikkei average inched higher on Monday, recovering from sharp falls in the previous session, as a call from world leaders for Greece to remain in the euro zone.

‘Risky’ euro remains at a steady low

21 May 2012 |

The euro started the week on a subdued note and commodity currencies remained mired at multi-month lows as investors found little comfort in a pledge by world leaders to take all steps necessary to combat financial turmoil.

Video | Markets Monday

21 May 2012 |

Investors should brace for more disruption as Europe’s debt woes continue, China strives for a soft landing and Australia’s bond market hits its lowest point since before the GFC.

Miners fuel sharemarket lift

21 May 2012 | Byron Smith

Updated | Australian sharemarket gains were a little more subdued by mid-morning trade, compared to opening on Monday, with the market up about half a per cent.

Futures tip soft open, Europe still in background

21 May 2012 | Peter Wells

It could be a relatively uneventful day for markets, but we’re all now living in a state of expecting the unexpected. SPI futures are pointing to an 8 point fall and the Aussie dollar has bounced off its morning low.

Bonds retreat from last week’s highs

21 May 2012 |

The Australian bond market has opened the week slightly weaker following last week’s record-breaking rallies, with strategists expecting the market to continue to consolidate.

FW Holst & Co may be good fit with Baillieu

21 May 2012 | Sarah Thompson

Stockbrokers are bracing for another round of consolidation should equity market conditions keep deteriorating and retail investors remain on the sidelines.

Small hope gives slight lift to $A

21 May 2012 |

The Australian dollar has rebounded from its six-month lows after G8 leaders vowed to do what they can to promote economic growth.

Greek lesson for Aussie retail bondholders

21 May 2012 | Mark Bayley

On t’Mark | Despite all the negative headlines emanating from Europe and Greece in particular, there was some good news coming out of Athens.

From Russia with love: stick with the euro

21 May 2012 | Geoff Winestock

PRINT: 21 May 2012 | PAGE 1 | From Russia with love: stick with the euro

Winestock | My strongest memory of the time when the ruble zone was breaking up is the Ukrainian black market traders arriving every morning.

Lower bids tipped for Lloyds’ loans

21 May 2012 | Gretchen Friemann

PRINT: 21 May 2012 | PAGE 1 | Lower bids tipped for Lloyds’ loans

Leading contenders for Lloyds’ $1.9 billion book of soured property loans are likely to submit lower bids in the second round as information gleaned from due diligence casts the assets in a less favourable light.

Investors brace for further EU upheaval

21 May 2012 | Bianca hartge-Hazelman

Before the Bell | Investors are expected to tread carefully ahead of a meeting of EU leaders later in the week ■ G8 encourages growth ■ Dow falls 0.6pc ■ SPI down 8pts ■ $A steady at 98.4 US cents ■ Broker Watch: ROC, CBA.

Proximity to Asia ensures local appeal

21 May 2012 | Jemima Whyte

PRINT: 21 May 2012 | PAGE 26 | Proximity to Asia ensures local appeal

Going weak at the knees doesn’t normally make for a good fund manager. But in Ella Brown’s case, she may not have ended up in financial markets without it.

Aussie banks say they can ride it out

21 May 2012 | George Liondis

PRINT: 21 May 2012 | PAGE 4 | Aussie banks say ‘we’re all right mate’

Australia’s banks are at risk of being drawn into Europe’s debt crisis as a measure of their funding costs rises to its highest level this year. But they claim they are prepared for the worst in Europe.

Bond dive harbinger for equities

21 May 2012 | Jane Searle

PRINT: 21 May 2012 | PAGE 4 | Bond dive harbinger for equities

Ten-year government bond yields appear to be spelling a doomsday scenario for equity markets, sinking to their lowest level in more than 50 years, at just above 3 per cent..

$A tipped to fall on Europe fears

21 May 2012 | Jane Searle

PRINT: 21 May 2012 | PAGE 4 | $A to fall on Europe fears

The Australian dollar is tipped to add to its recent falls, amid concerns about Europe’s debt crisis and continued uncertainty around China’s growth.

Arter to head BlackRock’s restructured equities business

21 May 2012 | Leng Yeow

PRINT: 21 May 2012 | PAGE 2 | Bloodied BlackRock plans restructure

Updated | Global funds manager BlackRock has unveiled a major restructure of its Australian equities business and appointed Justin Arter as its new chief executive.

Meka engineers some magic, just like his dad

21 May 2012 | Dan Hall

PRINT: 21 May 2012 | PAGE 2 | Meka engineers some magic – just like his dad

Ausenco CEO Zimi Meka credits his father’s harrowing escape from communist Europe soon after World War II the inspiration for his entrepreneurial success.

TMA is mystery PMP bidder

21 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 21 May 2012 | PAGE 18 | TMA is mystery PMP bidder

Ticketing and labelling group TMA, a market dog until it was delisted last year, has been confirmed as the mystery bidder for PMP

Austerity – what a laugh!

21 May 2012 | Robert Guy

PRINT: 21 May 2012 | PAGE 1 | Austerity – what a laugh!

Guy | The irony would not have been lost on Angela Merkel as she listened to advice from some of the world’s most enthusiastic money printers.

S&P warns on shrinking A-REIT sector

21 May 2012 | Ainslie Chandler

PRINT: 21 May 2012 | PAGE 1 | S&P warns on shrinking REIT sector

Further consolidation among Australian real estate investment trusts could reduce the sector’s appeal, ratings agency Standard & Poor’s has warned.

Early investors drop Facebook

21 May 2012 | David Ramli

PRINT: 21 May 2012 | PAGE 1 | Early investors drop Facebook

One of Australia’s biggest investment funds plans to dump its entire Facebook stake quickly as analysts and fund managers predict the social media giant will struggle to boost returns.

I’m no Facebook billionaire: Bono

19 May 2012 |

U2 frontman Bono has laughed off claims he will become a billionaire on the back of the Facebook flotation.

From its first ‘sell’ rating to short bets

19 May 2012 |

PRINT: 19 May 2012 | PAGE 1 |

The debut of Facebook shares on the Nasdaq brought an intense focus to the company, including its first brokerage sell rating and the prospect of some investors shorting the social network giant.

Wall Street stumbles on messy Facebook debut

19 May 2012 |

US stocks fell on Friday after a sloppy debut by Facebook spoiled hopes that a spectacular open for the most-anticipated stock sale in years would brighten the mood amid a gloomy month for equities.

Bullion meets resistance at $US1597 an ounce

19 May 2012 |

Gold rose more than 1 per cent on Friday, on track for its largest two-day gain since October, boosted by investors’ consolidation of positions ahead of the weekend and a stronger euro.

US bonds dip on profit-taking as worries linger

19 May 2012 |

US Treasury debt prices slipped on Friday as investors took profits a day after benchmark yields flirted with their lowest level in at least 60 years in this week’s rally.

Snapshot: S&P falls 0.7pc, Nasdaq sheds 1.2pc

19 May 2012 |

US stocks fell on Friday after a sloppy debut by Facebook spoiled hopes that a spectacular open for the most-anticipated stock sale in years would brighten the mood amid a gloomy month.

Merkel wades into Greece’s choppy political waters

19 May 2012 |

German Chancellor Angela Merkel has suggested that Greece should hold a referendum on the euro, together with next month’s national elections, an idea which was immediately ruled out.

Greece set to dissolve day-old parliament

19 May 2012 |

Greece’s day-old parliament held its last session Friday to allow for new elections next month that are being cast as a decision on whether to keep the country in the 17-nation eurozone.

FTSEurofirst 300 has worst week since September

19 May 2012 |

European stocks sank on Friday, with a key index losing 5.1 per cent on the week, hurt by mounting fears about the ability of Spain and Greece to deal with their debts and fix their banks.

Contagion fear pins German yields to new low

19 May 2012 |

German government bond yields hit record lows on Friday and were expected to fall further after a mass credit downgrade of Spanish banks stoked fears of a euro zone financial meltdown.

Facebook IPO marred by trading glitches

19 May 2012 |

PRINT: 19 May 2012 | PAGE 1 | UPDATE 3-Facebook fizzles in debut, shares skirt IPO price

Updated | For a company that is dramatically upending business strategies and social relationships around the world, shares in Facebook made a surprisingly modest debut on Friday.

If Greece goes under . . .

19 May 2012 | Tony Boyd

PRINT: 19 May 2012 | PAGE 1 | If Greece goes under . . .

Global financial markets during the week followed the normal pattern seen over the past two years by switching from being bullish to pricing in a worst-case scenario from the Greek sovereign debt crisis.

NAB offer hits the right note

19 May 2012 | John Wasiliev

PRINT: 19 May 2012 | PAGE 3 | NAB offer hits the right note

Income investments paying interest returns that rise and fall with the money market are in the news constantly, with companies and big banks offering them on a regular basis.

How to identify the best takeover targets

19 May 2012 | Tony Featherstone

PRINT: 19 May 2012 | PAGE 1 | How to identify the best targets

Big gains can come from spotting companies that are candidates for reverse takeovers, and it is a strategy that suits speculators comfortable with high risk. Here are 10 tips to find targets:

Traps for investors in backdoor listings

19 May 2012 | Tony Featherstone

PRINT: 19 May 2012 | PAGE 1 | Traps at the back door

Companies finding it difficult to list on the stock exchange are getting in another way. But this is no guarantee of success and canny investors know timing is key.

Bullish forecasters have second thoughts

19 May 2012 | Bianca Hartge-Hazelman

PRINT: 19 May 2012 | PAGE 3 | Bullish forecasters have second thoughts

Bullish investment banks are revising their end-of-year market forecasts after savage falls in global markets over the past week.

Next big thing may take a while

19 May 2012 | Philip Baker

PRINT: 19 May 2012 | PAGE 3 | Next big thing may take a while

Baker | Over the past 40 years there has been a powerful trend at the beginning of each decade that was viewed as the next big thing.

Waiting for the other shoe to drop

19 May 2012 | Anna Bernasek

PRINT: 19 May 2012 | PAGE 3 | Morgan, waiting for the other shoe to drop

Bernasek | Judging by the reaction to JPMorgan Chase’s $2 billion trading loss you’d think America’s leading bank had just gone bust.

Indian stock exchange wants in

19 May 2012 | Joanna Heath

PRINT: 19 May 2012 | PAGE 1 | Indian stock exchange wants in

India’s largest stock exchange – the National Stock Exchange of India – has approached local brokers to test the appetite for establishing an alternative exchange in Australia, hot on the heels of Chi-X.

If you can’t beat ’em, get rid of ’em

19 May 2012 | Nick Lenaghan

PRINT: 19 May 2012 | PAGE 2 | If you can’t beat ’em, get rid of ’em

Sydney businessman Curt Roberts has a simple message for shareholders who are unhappy with their board: toss ‘em out.

Things could get rough for Dimon

19 May 2012 | Andrew White

PRINT: 19 May 2012 | PAGE 2 | Things could get

It is likely that the top brass at JPMorgan knew about the trades that created the $US2 billion loss.

Europe sparks investor rout

19 May 2012 | Philip Baker

PRINT: 19 May 2012 | PAGE 1 | Euro fear drives share plunge

Australian shares fell into negative territory for the first time this year, driven by fears that fallout from Europe will hit the Chinese economy. Nearly $56.2 billion was wiped from the value of the S&P/ASX 200 index this week as fears spread that Spain is the latest flashpoint in the crisis.

Spain on the brink as euro faces the crunch

19 May 2012 | Charles Penty

PRINT: 19 May 2012 | PAGE 15 | Spain on the brink as euro faces the crunch

Spain moved back into the eye of the eurozone storm as the country’s borrowing costs rocketed and the banking sector was hit by mass downgrades.

Big challenges in uncertain world

19 May 2012 | The Australian Financial Review

PRINT: 19 May 2012 | PAGE 62 | Serious challenges in an uncertain world

Editorial | Evidence of fragility in the world economy and financial market jitters should probably be viewed here in Australia with caution rather than alarm.

Why Australia’s at risk?

19 May 2012 | Robert Guy

PRINT: 19 May 2012 | PAGE 1 | Why Australia’s at risk

Far from being a safe haven, Australia is priced for risk – so the markets and the dollar are being walloped.

Can Europe hold?

19 May 2012 | Emma-Kate Symons

PRINT: 19 May 2012 | PAGE 1 | Can europe hold?

Will a Greek departure from the euro zone lead to a collapse in the currency and cause untold damage? The opinion is divided but everyone agrees the result will be painful and expensive.

Nikkei falls 3pc as investors cut exposure

18 May 2012 |

Japan's Nikkei average shed 3 per cent on Friday to log a seventh straight week of losses, its longest such run since the third quarter of 2001, as investors cut exposure to risky assets on concerns over slowing growth and a deepening euro zone crisis.

Perfect storm rips 2.67pc off shares

18 May 2012 | Jane Searle

PRINT: 18 May 2012 | PAGE 3 | Euro fears slash 2.7pc off shares

The spectre of a Greek exit from the European Union, a downgrade of Spanish banks and concerns around Chinese growth saw the market shed 2.67 per cent on Friday to suffer its worst day since early October.

ASX slumps 2.7pc on Europe fears

18 May 2012 |

Updated | Australian shares tumbled 2.7 per cent on Friday on growing concerns about the global economic outlook, fanned by an escalating banking crisis in Spain, political turmoil in Greece and sluggish US data.

Airlines won’t budge on emissions

18 May 2012 | Lucy Gao

Chinese airlines will continue to oppose the European Union arrangement used to reduce greenhouse gas emissions.

Short sellers’ Greek field day

18 May 2012 | Stephen Calder

As the latest drama in the Greek theatre unfolded the financial markets took a dive in tandem this week, handing big wins to derivative traders.

ASX stocks to watch early afternoon on Friday

18 May 2012 |

Stocks to watch on the Australian stock exchange at 14.11pm AEST on Friday.

Solve Greece, then save Europe

18 May 2012 | David Bassanese

PRINT: 19 May 2012 | PAGE 40 | Solve Greek mess first, save Europe

Debt forgiveness would not send Europe broke and could help keep the euro zone intact. But Europe also needs a growth solution.

The end of the great 30-year bond bull run? Think again

18 May 2012 | Jonathan Shapiro

As stock markets tank and the world frets about Greece, bonds are rallying big time. The US 10-year rate fell to below 1.70 per cent, close to record levels, and Aussie bonds have been bid up in a big way.

Long odds on a big Facebook payday

18 May 2012 | NATHANIEL POPPER

Facebook shares will be tempting to buy when they start trading. The company is well known, has hefty profit margins and may become the world’s primary gateway to the Internet.

Nikkei drops sharply, weighed down by troubled Spanish banks

18 May 2012 |

Japan's Nikkei share average dropped sharply on Friday morning with securities hammered by fears of contagion from Spain's ailing bank system and a strong yen pushed down exporters.

Five sessions of trouble makes one weak

18 May 2012 | Peter Wells

Two hours into today’s session and Australian shares – down 1.98 per cent at 12pm AEST – are shaping up for their worst week of the year.

Hedge funds of the future battle volatility

PRINT: Capital | 16 May 2012

One of the world’s largest investors in alternative assets speaks to Capital about the quality of local hedge funds, the impact of the Volcker rule and how to pick high-performing hedge funds.

After the crisis, prepare for a healthy rebound

18 May 2012 | Ambrose Evans-Pritchard

Major global banks are advising clients to prepare for a sharemarket rally and a resurgence of the euro if Greece is forced out of the monetary union, betting that world authorities will flood the international system with liquidity.

Gold ticks higher after largest one-day gain in three months

18 May 2012 |

Gold ticked up on Friday, after posting its largest one-day gain in more than three months, but prices were on track to drop for a third straight week on mounting worries over the euro-zone debt crisis.

South Africa ‘confident’ of solution to Iran oil ban

18 May 2012 |

South Africa, which receives a quarter of its crude from Iran, is holding almost daily discussions with the US, EU Union and Iran about reducing its purchases.

How Greek exit might affect Aust stocks

18 May 2012 | Peter Wells

Merrill Lynch’s Tim Rocks has shared his thoughts about what a Greek exit from the euro might mean for Australian stocks. Banks are most vulnerable, he says, while resources would fall due to growth concerns.

Shares end down 2.7pc on Europe fears

18 May 2012 | James Carlisle with wires

Updated | The local sharemarket has sunk to its lowest level this year, closing down 2.67 per cent after US and European stocks fell sharply again overnight.

Pain from Spain sets scene for more declines

18 May 2012 | Peter Wells

Shaping up as another day in the red. Trouble in Europe - with the focus shifting toward Spain - extended the rout for global markets. Over here, SPI futures are tipping the S&P/ASX 200 to open 76 points lower.

Video | Friday Market Minutes

18 May 2012 |

RBS Morgans’ Roger Leaning says in two to three years people will kick themselves for not buying more shares now.

Gold rallies from rout on technicals

18 May 2012 |

Spot gold rallied more than 2pc on Thursday for its largest one-day gain since January, as technical buy signals and a decline in regional US factory activity more than offset deepening despair over the euro zone.

US crude ends lower a 5th straight day

18 May 2012 |

US crude futures fell for a fifth straight session on Thursday as US economic data and ongoing worries about the euro zone and Greece's political and debt crisis pressured oil prices.

$A dips below 99 US cents on European bank fears

18 May 2012 |

The Australian dollar has fallen back below 99 US cents amid reports of widespread bank withdrawals in Spain and Greece as fears grow that the euro zone debt crisis will worsen.

Uzbekistan aims to join China gas supply route

18 May 2012 |

Uzbekistan aims to start pumping natural gas to China this year through a pipeline spanning three Central Asia states, gaining access to a supply network key to diversifying supplies from the ex-Soviet region, a senior Uzbek official said on Thursday.

Moody’s downgrades 16 Spanish banks

18 May 2012 |

Moody’s Investors Service has downgraded the long-term debt ratings for 16 Spanish banks, in part because of constraints on the government’s ability to provide them with support.

Ackman wins proxy fight at Canadian Pacific

18 May 2012 |

The activist investor William Ackman won his proxy battle for control of Canada’s oldest railway, Canadian Pacific, on Thursday after the company’s chief executive and several board members resigned.

India approves plan for Turkmenistan gas imports

18 May 2012 |

India's cabinet on Thursday allowed state-run gas-firm GAIL (India) to sign a gas purchase agreement with Turkmenistan's national oil firm, for supplies from a planned multinational pipeline, a government statement said.

S&P falls further as selling pressure rises

18 May 2012 |

US stocks hit a four-month low as rising Spanish bond yields increased investor anxiety over that country’s banks and another round of weak data undermined hopes for US economic recovery.

Facebook IPO prices at $US38 a share

18 May 2012 | Ben Woodhead

PRINT: 18 May 2012 | PAGE 1 |

Naysayers have failed to dampen enthusiasm for Facebook’s hotly-anticipated initial public offering, with the social network pricing its stock at the high end of a recently increased value range.

Equities extend losses, Spanish bank ratings cut

18 May 2012 | Brendon Lau

Before the Bell | Global equities have extended losses amid renewed EU debt crisis concerns and weak US economic data ■ S&P 500 down 1.5pc ■ Facebook sets $US38 price ■ SPI down 79pts ■ $A below US99¢ ■ Broker Watch: NWS, CBA.

Spain denies run on deposits at Bankia

18 May 2012 |

The Spanish government has denied a newspaper report that customers had withdrawn more than €1 billion from the partly nationalised lender Bankia over the past week

Greek dilemma, bank worries hit Spanish bonds

18 May 2012 |

Spanish bond yields rose as concerns about the country’s banks and a rapid rise in its borrowing costs kept investment flows directed towards perceived safe havens.

European shares hit 5-month low on euro woes

18 May 2012 |

European shares hit multi-month troughs and a key banking index its lowest mark ever, falling for a fourth straight session as an escalating banking crisis in Spain fuelled broader concerns.

Copper steady but near four-month lows

18 May 2012 |

Copper steadied after hitting four-month lows the previous session, but sentiment was cautious given worries Spain might be hard hit if Greece leaves the euro and defaults on its debt.

S&P on track for 5th straight day of losses

18 May 2012 |

US stocks fell in early afternoon trading, with the S&P on track for a fifth straight day of declines as weak economic data spooked investors already concerned about the ongoing situation in Europe.

Euro slammed by Greece, Spain bank fears

18 May 2012 |

The euro fell to a four-month low against the US dollar on concerns about banks in Spain and Greece and the prospect of contagion if Greece exits the euro zone.

Reviews can hit too close to home

18 May 2012 | Tony Boyd

PRINT: 18 May 2012 | PAGE 4 | Reviews can hit too close to home

When a chief executive utters the words “strategic review”, as Mike Wilkins at Insurance Australia Group did yesterday, you know a board of directors is no longer willing to live with a mess created by past managers.

Life’s full of conflicts

18 May 2012 |

PRINT: 18 May 2012 | PAGE 48 | Life’s full of conflicts

Rear Window was delighted to hear that the Future Fund’s new chairman, David Gonski, had moved quickly to introduce corporate governance processes similar to a listed company.

Listings suffer in a capsizing market

18 May 2012 | Tony Featherstone

PRINT: 18 May 2012 | PAGE 3 | Listings suffer in a capsizing market

The latest sharemarket rout is battering the initial public offerings market. More companies have withdrawn their listing applications and some prominent floats have been crunched.

Goldman to cash in $1bn of Facebook shares

18 May 2012 | Christine Harper New York

PRINT: 18 May 2012 | PAGE 3 | Goldman to cash in $1bn of Facebook shares

Goldman Sachs Group and funds managed by the firm will sell about $1 billion of stock in Facebook’s initial public offering, cashing out almost half their stake after the social network doubled in value.

It won’t be a quickie divorce

18 May 2012 | Philip Baker

PRINT: 18 May 2012 | PAGE 3 | It won’t be a quickie divorce

Seven weeks ago, investors where basking in the glow of the best quarter for the S&P 500 since 1997, but since then the Greece impasse has them rattled and the index has given back more than half those gains.

Europe reaps a bitter harvest

18 May 2012 | The Australian Financial Review

PRINT: 18 May 2012 | PAGE 1 | Europe reaps a

Editorial | European policymakers have no one but themselves to blame for their economic and financial predicament. It is the direct result of the political compromises put in place to secure monetary union.

Heritage in $125m retail bond offer

18 May 2012 | Jonathan Shapiro

PRINT: 18 May 2012 | PAGE 20 | Heritage in $125m retail bond offer

Queensland-based regional lender Heritage Bank has launched a $125 million offering of listed bonds in a rare issue of senior-ranking corporate debt to retail investors.

Medcraft aims high with IOSCO

18 May 2012 | Vesna Poljak

PRINT: 18 May 2012 | PAGE 19 | Medcraft aims high with IOSCO

Greg Medcraft, the incoming chairman of the International Organisation of Securities Commissions (IOSCO), hopes to elevate the body to the same prominence commanded by the Basel Committee on Banking Supervision under his stewardship.

Pacific Equity takes its time over Link deal

18 May 2012 | Sarah Thompson and Anthony Macdonald

PRINT: 18 May 2012 | PAGE 18 | Pacific Equity takes its time over Link deal

Pacific Equity Partners is taking its time with Link Market Services, the $1.5 billion share registry business earmarked for sale.

Beware the lull before the storm

18 May 2012 | Bianca Hartge-Hazelman

PRINT: 18 May 2012 | PAGE 17 | Beware the lull before the storm

Dramatic midweek falls in global markets may have eased but traders warn it could be a false dawn ahead of Greece’s elections in June and whether Greece remains in the euro.

Asia prepares to ride out Greek storm

18 May 2012 | Keiko Ujikane

PRINT: 18 May 2012 | PAGE 2 | Asia prepares to ride out Greek storm

Japan’s economy expanded faster than estimated in the first quarter, boosted by reconstruction spending which is poised to fade just as a worsening in Europe’s crisis threatens to curtail export demand.