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Vale S.A.
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The Latin American Iron and Steel Institute (ILAFA) are proud to present the Latin American Iron and Steel Congress 2010, from the 24th-26th of October. The Congress will be held at the Hilton Hotel Buenos Aires between 9am and 4pm, with city tours and location visits to see and a beautiful luncheon at the Coleccion Restaurant which specialises in Mediterranean cuisine. After the event people can enjoy the city of Buenos Aires and its hot tourist spots such as the Buenos Aires City Tour, Fortabat Museum and Colon Theatre and a visit to the PROA Foundation.
Australian Market Report of September 30, 2010 includes; Azure Minerals Limited (ASX:AZS) has commenced an extensive exploration program in Mexico; Intrepid Mines Limited (ASX:IAU) (TSX:IAU) reported an initial Inferred Resource of 500 million tonnes at 0.4% copper and 0.5 g/t gold in Indonesia; White Cliff Nickel Limited (ASX:WCN) has identified additional zones of copper rich mineralisation; Avanco Resources Limited (ASX:AVB) has received an initial US$100,000 payment from Vale S.A. (NYSE:VALE) in relation to Trindade North acquisition.
The Australian shares gave up their early gains and ended in a negative territory on Monday. The market weakness was mainly due to tax-related selling ahead of the financial year end of June 30. The benchmark S&P/ASX 200 index fell 28.5 points, or 0.65 per cent, to 4384.5 points, while the broader All Ordinaries index lost 0.67 per cent to settle at 4409.7.
The Australian share market opened lower on Friday as metals prices fell. Wall Street has provided a flat lead to the local market. Yesterday the Asian markets widely surged as investors were inspired by the US economic data. The Australian stocks snapped a three-day losing streak and posted a strong 2.4 per cent gain at the close.
Magnetic Resources (ASX:MAU) has applied for an exploration licence covering a substantial magnetic anomaly north of the Tallering Peak iron ore operation. The new tenement (called the Malara project) is situated 50km north of Tallering Peak some 210km by road from the port of Geraldton and forms part of Magnetic's search for iron ore close to existing infrastructure. The railhead at Mullewa is situated about 115km south of Malara.
Monday Wall Street rose as higher commodities prices boosted energy and mining companies. The US markets also received support from positive consumer spending in February. Asian markets closed mixed yesterday. Chinese stocks rallied as China said it plans to launch the long expected stock-index future in April 16. Shanghai Composite jumped 2.1 per cent to a two month high, while Hong Kong's Hang Seng Index climbed 0.9 per cent. South Korea's Kospi Composite was 0.3 per cent lower. Japan's Nikkei 225 lost 0.1 per cent.
Australian stocks declined yesterday on profit taking selling after US aluminium giant Alcoa reported its fourth quarter earnings result, which missed the market expectations. The resources sector drove the local shares lower. The benchmark S&P/ASX200 index closed down 51.2 points, or 1.03 per cent, at 4,899.5 points, while the broader All Ordinaries index lost 49.6 points, or one per cent, to 4,931.6 points.
The Australian sharemarket closed marginally lower in light trading yesterday as banks were down on concerns that bad debts could increase after interest rate rise. The benchmark S&P/ASX 200 index gave up 5.9 points, or 0.13 per cent, at 4670.60, while the broader All Ordinaries lost 0.19 per cent to 4686.40 points.
Wall Street closed in negative territory on Friday despite a survey showed that US consumer sentiment rose to its strongest level in three months. But the Dow still surged 164 points, or 1.74 per cent, with four days rally in the week.
Yesterday the Australian share market ended slightly lower dragged by financial stocks. The benchmark S&P/ASX200 was down 10.7 points, or 0.28 per cent, at 3813.9, while the broader All Ordinaries had lost 4.2 points, or 0.11 per cent, to 3804.7.
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