Yanzhou Coal Mining Company Limited

Wall Street finished slightly lower overnight after the US stocks hit a fresh high on Friday. Investors locked in profits ahead of economic data due to release this week, including monthly retail sales figures and the Federal Reserve's statement on interest rates and the economy.

Yesterday the Australian market posted a massive drop following a significant decline in Wall Street. The benchmark S&P/ASX200 index tumbled 3.1 per cent, or 121.3 points, to 3796.9 yesterday, while the broader All Ordinaries lost 117.8 points, or 3.01 per cent, to 3793. Investors would become nervous after the losses in recent trading sessions, although the rebound in commodities prices may help to lift the local market.

Linc Energy Limited (ASX:LNC)(PINK:LNCGY) today announced the appointment of UBS Investment Bank to act as manager and advisor on the strategic divestment process of the company's high potential coal mining areas at Emerald (Teresa), Galilee and Pentland, which have recently been subject to numerous inbound inquiries from interested parties. These properties are strategically positioned with resource potential of considerable scale and coal quality.

Australian stocks ended flat for a second day after an early rally sparked by Babcock & Brown's winning of a reprieve from bankers loses steam. Yesterday, the benchmark S&P/ASX200 share index ended little changed for a second day running, giving up just 1.4 points to 3542.4, while the All Ordinaries index ended down 0.2%, or 8.4 points, at 3468.1. Earlier, the indexes climbed about 2%. It is anticipated that the energy and mining sectors will plunge after the commodities price lowered with poor outlook and concerns over companies' ability of debt refinancing in a short term may weigh on the stocks.