The Australian shares Tuesday posted losses for the sixth consecutive day as Asian markets were widely lower. Chinese market dropped more than 4 per cent due to a massive sell-off after the Agricultural Bank of China offered a lower-than-expected price in its Shanghai tranche IPO. Investors feared that this could be a signal of slow-down in fresh investment into Chinese equities.
Campbell Brothers (ASX:CPB) expects underlying net profit after tax for the half year ending 30th September 2010 will be within the range of A$63 million to A$68 million as it sees continued strong demand for its mineral, environmental and coal analytical services.
The Australian stocks market was slightly lower in early trade, while Wall Street delivered a flat lead overnight. Yesterday the local market posted a strong gain of 1.2 per cent, led by materials and energy stocks.
After the success last year of SIPPE 2009, Shanghai Aiexpo Exhibition Service Co., Ltd are pleased to announce the SIPPE 2010 Shanghai 5th International Petroleum Petrochemical Natural Gas Technology Equipment Exhibition.
The Australian share market strongly rebounded in early trade today, despite a flat lead from Wall Street. The benchmark S&P/ASX200 index was up about 2.2 per cent shortly after the market opened.
The Australian market was stronger this morning after European Union finance ministers agreed to create emergency measures totalling more than 500 billion euro to help eurozone countries facing financing trouble. The fund involves 440 billion euro from eurozone governments and another 60 billion euro of loan funds coming from the European Commission.
Slump in Australian mining shares dragged the local market lower this morning over worries that a newly unveiled tax on the resources industry could hurt the miners' profits. The drop in local market was also led by the negative lead from US market. Asian stocks also delivered a weak start on Monday. China's central bank on Sunday raised banks' reserve requirement ratio by 50 basis points to further control the property prices. Chinese markets are closed today for Labour Day holiday.
