In Australia, the share market closed at near four-month high on 21 August 2012, Tuesday by which investors earned strongly, increasing their confidence to invest. Central bank also gave positive views on investment and housing by this report of share market. The broader All Ordinaries index rose up 0.43% or 18.9 points at 4,410.8 and the standard index closed up 0.44% or 19.1 points at 4,383.4. This was the strongest finish of the share market since early May.
COP (ConocoPhillips), the third-largest United States oil company, said that it is interested in additional shale investments in the Australia after a partnership previous year with Perth-based NSE (New Standard Energy Ltd). President of Australian unit of Conoco, Todd Creeger, said at present in Adelaide in an interview that, they are chasing a bunch of material. There are a few large acreage holders which are interested in talking to them about what they could do together. The New Standard was a good entry. They will see more like that.
The Reserve Bank of Australia has informed that the resources boom won’t continue indefinitely and moreover that it was still vital for the country to invest in education and training for its workforce. Dr Philip Lowe, RBA deputy governor said that, it was significant to invest in areas like higher education, tourism and manufacturing to keep them competitive with to add value in a complete range of industries.That required to be completed whether the mining boom sustained or not, he said in Melbourne in a speech. Dr Lowe also said if the mining boom sustained, as he considered it would,
The expansion of proposed Olympic Dam is becoming certain, after programs were declared to enlarge Stuart Highway to Port Augusta in southern region of Australia.
Rick Treloar, the MD of C&G Group and Leicester Management Services said that current time is the right opportunity
The decision of Reserve Bank of Australia to keep interest rates unchanged has resulted in sudden plunge down in Australian bond future prices on Wednesday.
The bond price of three year future contract was crashed by 3.4 percent to close at 96.510. The conclusion of yesterday’s board meeting of RBA to keep cash rate at 4.25 per cent,
Australian bond prices have climbed higher on increasing fears of Greek debt bailout. On Thursday at 16:35 AEDT, the March month 10 year future contract was trading at 96.020, up by 4.080 per cent from its previous day’s closing.
On the other hand 3 year future contract was trading at 96.480,