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ASX Midday Market Wrap – 3rd July 2009 – Shares Sink in Morning Trade
Australian shares sank this morning on the back of significant losses on Wall Street and European markets overnight.
At 1200 AEST the ASX 200 was down 56.3 points to 3821.0 and the All Ordinaries had fallen 54.1 points to 3821.1.

At midday all sectors were posting losses.
In company news, Catalpa Resources has reported encouraging results form regional auger geochemical sampling carried out along strike at the Edna May Operation. Results have defined coherent surface geochemical anomalies of up to two kilometres wide. In addition several new anomalies have been produced in previously unexplored areas.
Emergent Resources has entered into a commercial in-confidence non-binding memorandum of understanding with China Metallurgical Investment Co Ltd. The agreement is for the development of the company’s Beyondie Iron Project. The MOU provides for a 50:50 development JV and the provision of $A200 million in funding for the project, subject to satisfactory due diligence and completion contracts.

Avoca Resources Ltd has announced a record 52 118 ounces of gold production for the June quarter from its Higginsville gold project. The record June result contributes to Avoca’s first year as a gold producer of 130 594 ounces. The company has reported that it remains confident it will produce plus 190 000 ounces in the next financial year.
Downer EDI Limited posted today’s greatest gains up 14 cents or 2.66% to $5.40.
News Corporation posted posted today’s greatest losses down 54 cents or 4.07% to $12.72

At 1200AEST the 12 GICS indices were:-
Discretion 1,264.7 down 18.6
Energy 14,098.1 down 161.4
Financials 3,591.7 down 47.9
Fin-x-property 4,128.2 down 52.9
Gold 4,928.0 down 104.2
Healthcare 7,935.9 down 93.0
Industrials 2,868.0 down 40.0
Info Technology 506.2 down 8.9
Materials 9,769.6 down 233.8
Metals and Mining 3,493.3 down 88.1
Property Trusts 732.0 down 11.7
Consumer Staples 6,528.3 down 36.6
Telecommunications 1,153.0 down 9.3
Utilities 3,885.4 down 11.6
Individual stock performances
BHP Billiton was at $33.34 down 96 cents. Rio Tinto was at $51.75 and was unchanged.
Banks
Westpac at $19.28 down 30 cents. NAB at $21.67 down 18 cents. ANZ at $16.11 down 2 cents. Commonwealth Bank was at $37.05 down 37 cents.
Media
News Corp at $12.69 down 57 cents. The Seven Network at $5.46 down 4 cents. John Fairfax at $1.14 down 3 cents.
Retail
Woolworths at $25.83 down 16 cents. Harvey Norman at $3.19 down 2 cents. David Jones was at $4.51 down 1 cent.
Toll Holdings at $6.01 down 10 cents. Qantas at $1.90 down 6.5 cents.
Gold
Gold is currently trading at $US931.50 up US50 cents an ounce.
Oil
Light sweet crude oil is currently trading at $US66.18 down US55 cents a barrel.
Dollar
The Australian dollar opened lower, as investor expectations of a recovery in the US economy were dampened after the US unemployment rate hit a 26-year high
At 1205 AESDT the Australian dollar was:
AUD/USD .7919
AUD/EUR .5677
AUD/GBP .4849
AUD/JPY 76.341
AUD/NZD 1.264
US Stock Market Report – 3rd July 2009 – Jobs Report Weighs on Stocks
Stocks tumbled Thursday, with the Dow losing 223 points, following a worse-than-expected jobs report hammered hopes that the economy is close to stabilising.
The Dow Jones industrial average fell 223.32 points, or 2.63 per cent to 8280.74 and the Nasdaq lost 49.20 points, or 2.67 per cent to 1796.52.
The New York Stock Exchange reported that trading will be extended until 4:15 p.m. ET instead of the usual 4:00 p.m. ET close, so as to allow customers to put through orders that were impacted by system irregularities. The NYSE did not specify what the irregularities were.
Declines were broad based, with all 30 Dow stocks falling, led by oil components Chevron and Exxon Mobil. IBM, Boeing, United Technologies and Wal-Mart were the other big losers.
Financial shares tumbled, including Dow components American Express, JPMorgan Chase and Travelers Companies.
All US financial markets are closed Friday for the Independence Day holiday.
Stocks climbed Wednesday on the first day of the third quarter as investors found some encouragement in the day's housing and manufacturing reports. But the advance lost steam Thursday, with the jobs report giving investors a reason to retreat after a strong second quarter.
In the April-through-June period, the S&P 500 gained 15.2 per cent, its best quarter in more than a decade. The Dow rose 11 per cent and the Nasdaq 20 per cent. Both indexes posted their best quarters since the second of 2003.
Stocks rallied on hopes that the economy was starting to stabilize after the six months of panic that followed the collapse of Lehman Brothers last September.
Lately, stocks have churned on concerns that the market got ahead of itself.
In economic news, employers cut 467 000 jobs from their payrolls in June, after cutting 322 000 jobs in May, the Labour Department reported Thursday. That made June the first month in four in which job losses rose from the previous month. Economists surveyed by Briefing.com expected 365 000 job losses.
The unemployment rate, generated by a separate survey, rose to 9.5 per cent from 9.4 per cent, short of forecasts for an increase to 9.6 per cent.
The number of Americans filing new claims for unemployment fell to 614 000 last week from a revised 630 000 the previous week, the Labor Department reported. Economists thought claims would fall to 615 000.
May factory orders rose 1.2 per cent, the Commerce Department reported, versus forecasts for a rise of 0.9 per cent. Factory orders rose a revised 0.5 per cent in April.
In company news, Exelon has sweetened its hostile takeover offer for rival power generator NRG Energy. The all-stock offer is $8 billion versus the previous offer of $7 billion.
Johnson & Johnson will take an 18 per cent equity stake in biotech Elan in exchange for a $1 billion investment. J&J will also buy Elan's share of its Alzheimer's disease treatment program with Wyeth.
US-traded shares of Elan gained 11 per cent in active New York Stock Exchange trading.
In commodities, COMEX gold for August delivery fell $10.60 to settle at $930.70 an ounce.
US light crude oil for August delivery fell $2.37 to $66.94 a barrel on the New York Mercantile Exchange.
In currency trading, the US dollar gained versus the euro and fell against the yen.
On Australian dollar currently buys:
AUD/USD .7936
AUD/EUR .5671
AUD/GBP .4842
AUD/JPY 76.110
AUD/NZD 1.263
In overseas trade, Britain's FTSE 100 was down 2.45 per cent, Germany's DAX lost 3.81 per cent and France's CAC 40 fell 3.13 per cent.
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Market News
[EMG] MOU with Chinese Group for Development of Beyondie
03-Jul-2009
[BHP] Sale of Yabulu Nickel Refinery, Queensland
03-Jul-2009
[SGM] Acquisition of Fairless
03-Jul-2009
[CNT] Private Placement
03-Jul-2009
[AVO] Record 52 118 Ounce June Quarter
03-Jul-2009
[QFX] Non-Renounceable Rights Issue
03-Jul-2009
[SEY] Placement
03-Jul-2009
[PVE] Po Valley commences drilling Sillaro2 production well
03-Jul-2009
[FSE] Resource Upgrade and Sekoko Agreement
03-Jul-2009
[CAH] Exploration Results Encouraging
03-Jul-2009
Morning Market Mood - Gold
03-Jul-2009
Morning Market Mood - Oil
03-Jul-2009
Morning Market Mood - Dollar
03-Jul-2009
[GRK] GRK to develop WA`s first geothermal energy project
02-Jul-2009
[PAN] Record Nickel Production
02-Jul-2009
[MSR] Drilling recommences on the South West Kyrgyz Gold Project
02-Jul-2009
[AEE] Drilling to Commence at Gunbarrel Basin JV Project
02-Jul-2009
[SAU] RC Drilling Commences at Golf Bore Prospect
02-Jul-2009
[THX] Thunderball Gamma Survey Results
02-Jul-2009
[EXT] Rossing South Zone 1 Resource Upgrade
02-Jul-2009
[NTU] Placement to raise $1.125 Million
02-Jul-2009
[HDF] Completion of institutional component of equity raising
02-Jul-2009
[CCU] Wonawinta feasibility study to Commence
02-Jul-2009
[BNO] US Clinical Trial of BNC105 in Renal Cell Cancer
02-Jul-2009
[NQM] Twin Hills Acquisition
02-Jul-2009
[CXN] ConnXion signs Fairfax Media Group
02-Jul-2009
[PLB] Perth Mortgage Broking Acquisition
02-Jul-2009
[SXE] Tiwest Contract Award
02-Jul-2009
Morning Market Mood - Gold
02-Jul-2009
Morning Market Mood - Oil
02-Jul-2009
Morning Market Mood - Dollar
02-Jul-2009
[CLQ] Clean TeQ Awarded Air Contract
01-Jul-2009
[UNI] Unilife and sanofi-aventis Sign Industrialisation Agreement
01-Jul-2009
[THX] East Kimberley Exploration Agreement
01-Jul-2009
[GBE] Globe Commences Discussions with Potential Chinese Off-Take
01-Jul-2009
[BRW] Breakaway Commences Gold Exploration Drilling
01-Jul-2009
[TOE] Toro awarded WA Govt drilling grant for Lake Mackay Project
01-Jul-2009
[SIU] Acquisition of MasterSoft International Pty Ltd
01-Jul-2009
[SLX] GLE submits License Application to Build and Operate Plant
01-Jul-2009
[LDW] Ludowici Sells Packaging Business in New Zealand
01-Jul-2009
[BVA] BVA signs significant 5 year agreement with J.P. Morgan
01-Jul-2009
[JMS] Jupiter Secures Strategic Investment and Off-Take with POSCO
01-Jul-2009
[TIS] More VitroGro Patents Granted in South Korea and Australia
01-Jul-2009
[GXY] Acqusition of Mt Cattlin Tenement Extension
01-Jul-2009
[NVT] Potential Acquisition of Transport House by Sydney Metro
01-Jul-2009
Morning Market Mood - Gold
01-Jul-2009
Morning Market Mood - Oil
01-Jul-2009
Morning Market Mood - Dollar
01-Jul-2009
[DJS] DJS - David Jones Increases FY09 Profit Guidance
30-Jun-2009
[SLV] Ruukki and Sylvania Announce Proposal to Merge
30-Jun-2009
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Biotechnology Stocks Experience Unprecedented Decline.
The ASX listed life-sciences sector is observing unprecedented declines in shares prices following recent share market volatility.
(Updated: 28-10-2008)
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Australian Brand Popularity Increasing in China.
Significant growth has occurred in the number of Australian exports sent to China.
(Updated: 28-10-2008)
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PCI Declines in June to 40.3.
The national construction industry dropped in June, marking the fourth consecutive months of declines.
(Updated: 28-10-2008)
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ASX Implements AQUA Rules.
The ASX has implemented a new service for Managed Funds, ETFs and Structured Products intended to target domestic and international product issuers which specifically provide investment products to both retail and institutional investors. The AQUA Rules, will support the quotation of these products on ASX.
(Updated: 28-10-2008)
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Australia-Korea FTA Preparatory Talks Begin
Australia and the Republic of Korea are set to enter a new arena of economic cooperation through commencement of preparatory talks on the negotiation of a free trade agreement (FTA).
(Updated: 28-10-2008)
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ASIC extends ban on covered short selling
The Australian Security Investment Commission has extended the ban on covered short selling for non-financial securities an additional 28 days until 18 November 2008.
(Updated: 28-10-2008)
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Austrade Enhancing Australia ICT Links with Taiwan.
The Australian Trade Commission (Austrade) in conjunction with the Australian Industry Group (AIG), and the Australia Taiwan Business Council (ATBC) have partnered to organise a major push expected to enhance Australia's ICT links with Taiwan.
(Updated: 28-10-2008)
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ASIC Designs Proposals to Improve Disclosure by Unlisted Mortgage and Property Schemes.
The Australian Securities and Investment Commission (ASIC) has released consultation papers and draft regulatory guides.
(Updated: 28-10-2008)
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Midas Resources Limited to Acquire Pilbara Iron Ore Tenements A New Direction from Which to Build Growth and Create Shareholder Value.
West Australian based Midas Resources Limited (Midas) (ASX:MDS) is strategically positioned for success with its Lake Carey gold project south of Laverton. The Company has drilled out a resource at Fortitude and is in talks with AngloGold Ashanti concerning a possible development. Midas is also focused upon a targeted generative program for the delineation of company making resource assets.
(Updated: 1-7-2009)
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ATL1101 Enhances the Effects of an Existing Chemotherapy Treatment, Positioning Antisense Therapeutics Limited to Realise High Value as it Enters Dialogues Regarding Future Development of the Compound.
ASX listed Antisense Therapeutics Limited (ASX:ANP) (Antisense) is an Australian publicly traded pharmaceutical drug discovery and development company primarily focused on the creation, development and commercialisation of novel antisense therapeutics.
(Updated: 23-6-2009)
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Vanadium Assays gives MIL Resources New Focus on its Amazon Bay Project Given the Demand for Vanadium in Steelmaking.
ASX listed MIL Resources Limited (ASX:MGK) (MIL) is an Australian public company focused on resource investment and development. The company is actively committed to expanding its interests over a range of resource areas.
(Updated: 22-6-2009)
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Imminent Portfolio Performer, Otto Energy Limited is Well Placed to Realise Upturn in the Market Following the Creation of a Balanced Portfolio of International Exploration and Development Assets
Otto Energy Limited (Otto Energy, “OEL”) listed on the Australian Securities Exchange in 2004 and in four short years has become a dynamic oil and gas company with a balanced portfolio of exploration and development assets.
(Updated: 17-6-2009)
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Finders Resources Limited Further Progresses Toward 20 000-25 000tpa Copper Production at the Wetar Project, Following Several Key Developments within the Recent Term.
Emerging copper producer, Finders Resources Limited (Finders) is targeting 20 000 to 25 000 tonnes per annum copper production from its Wetar Copper Project in Indonesia. The company also controls an advanced gold-silver project at Ojolali, also in Indonesia.
(Updated: 17-6-2009)
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Western Desert is Strongly Positioned in the Northern Territory with its Roper Bar and Rover Projects to realise Sustained Rewards and Value in the Future Following a Suite of Positive Results.
ASX listed Western Desert Resources Limited (ASX: WDR) (Western Desert) is a diversified mineral exploration business primarily focused on increasing shareholder wealth through growth of the company via discovery, acquisition and development of substantial economic mineral resources.
(Updated: 17-6-2009)
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KarmelSonix Limited is Strategically Positioned with a Suite of Commercially Developed Products, including its Flagship Personal WheezoMeter™ Device, to Capitalise on the Substantial Market Potential of the Products
KarmelSonix Limited (KarmelSonix) is an ASX listed (ASX:KSX) leader in developing and commercialising a range of acoustic respiratory monitoring devices. The Company’s novel products are based on acoustic signal acquisition technology and advanced analysis capabilities.
(Updated: 16-6-2009)
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Imminent Portfolio Performer, Runge Limited is Well Placed to Realise Upturn in the Market in Line with its Novel Provision of Economic Solutions for the Mining Industry.
Leading global mining technology services company Runge Limited (Runge) was established in 1977 and since then it has been committed to the development of technology products, consulting services, and training courses to the global mining industry across a range of commodities.
(Updated: 16-6-2009)
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Bionomics Limited reaches Milestone as its Anxiety Drug Candidate is approved to Enter Human Clinical trails strongly positioning it for Growth in the Future.
Bionomics Limited (Bionomics) is strategically positioned as a leading bio-tech company focused on the discovery and development of innovative therapies for cancer and diseases of the central nervous system including anxiety and multiple sclerosis.
(Updated: 16-6-2009)
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AuDAX Resources Limited is Well Positioned to Realise Sustained Growth and Value from its European Assets Following Significant Achievements with FY09.
Oil, gas and base metals Exploration Company, AuDAX Resources Limited (AuDAX) operates under a two pronged approach.
(Updated: 16-6-2009)
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Special Report – Imminent Portfolio Performers
Much has been considered and reported on in relation to the overall S&PASX 200 Market Performance over the last 12-18 months in line with the global financial crisis. Recently volatility seems to be easing, and the market has carried out one of the strongest rallies since the 1930’s, according to ASX reports, rising from intra-day lows of around 3120 as of March 10, 2009. As of Friday June 12, 2009’s close the market stands at 4062.
(Updated: 12-6-2009)
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Join Mount Rommel Limited Via its Offer Information Statement as it Prepares to Develop its Portfolio of Strategically Positioned Assets to Realise Sustained Value for the Future.
NSX listed Mount Rommel Mining Limited (NSX:MM) (Mount Rommel) operates predominately as an explorer for gold in Victoria.
(Updated: 9-6-2009)
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Shenhua International Limited Provides an Exciting Opportunity for Investors to Join the Company via its IPO Offer, as it Grows its Prospective Home Textile Business.
Shenhua International Limited (Shenhua) is an Australian public company established for the purpose of acquiring the Shenhua Group and its home textile business. The Shenhua Group, established in 1999, is one of the leading home textile manufacturers in China.
(Updated: 5-6-2009)
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Diatreme Resources Limited is Strategically Positioned in The Eucla Basin of Western Australia and will Continue Aggressive Exploration Following a Share Purchase Plan
ASX listed Diatreme Resources Limited (ASX:DRX) (Diatreme) is a diversified Australian mineral explorer, strategically committed to the discovery of heavy mineral sands, copper and base metal deposits.
(Updated: 5-6-2009)
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Adelaide Energy Secures Farmin Partner for PEL 218 Strongly Positioning the Company with Significant Cash in the Bank and the Potential to Develop its Other High Quality Projects in the Future.
ASX listed Adelaide Energy Limited (ASX:ADE) is a South Australian company strategically focused on oil and gas exploration in the Cooper and Otway Basins of South Australia.
(Updated: 5-6-2009)
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Bandanna Energy Limited is strategically positioned in the Galilee Basin to Realise Value from a Potentially Globally Significant Thermal Coal Province following a Maiden resource Statement for the Alpha Project.
ASX listed coal exploration company Bandanna Energy Limited (ASX:BND) (Bandanna) is strategically focused on coal exploration at its Bowen Basin and Galilee Basin tenements.
(Updated: 5-6-2009)
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The Strategic Positioning of XRF Scientific in Specialised Markets is Reflected by its Obtainment of Two 20-year Patents
XRF Scientific is strategically positioned as one of the world’s leading suppliers of technology designed to solve sample preparation problems relating to material characterization. Its products and solutions optimise the performance and throughput of x-ray fluorescence spectrometry (XRF) equipment resulting in consistent and more precise material characterization.
(Updated: 5-6-2009)
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BluGlass Limited Signs Term Sheet for Licence Agreement with BLK Co Ltd, Strongly Positioning it to Realise Value from its RPCVD Technology within the LED Industry.
BluGlass Limited (BluGlass) is an Australian Green Technology company dedicated to developing and commercialising a breakthrough in the Semiconductor Industry.
(Updated: 3-6-2009)
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Initial RC Drilling Results Highlight the Strategic Value of the Barlee Project and Strongly Position Beacon Minerals Limited for Sustained Growth and Value in the Future.
ASX listed Beacon Minerals Limited (ASX: BCN) (Beacon) is committed to the exploration for, and development of quality precious and base metal projects.
(Updated: 22-5-2009)
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MEO Australia Limited has a number of strategically located offshore Australian exploration permits, considered highly prospective for substantial gas resources
ASX listed MEO Australia Limited (MEO) is primarily focused on the development of large gas projects in offshore Australian provinces with established LNG infrastructure.
(Updated: 20-5-2009)
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Bow Energy is strategically Positioned with a Diversified CSG Portfolio to meet its 3P and 2P Certified Gas Reserves Targets
ASX listed Exploration Company Bow Energy Limited (Bow) is strategically positioned with a diversified Coal Seam Gas (CSG) portfolio and as such is well situated for domestic gas and export LNG market sales potential.
(Updated: 20-5-2009)
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Australian Power & Gas Has Forecast Cash Flow Positive Status for 2009/10 Financial Year Reflecting its Significant and Growing Position within the Energy Sector.
ASX listed Australian Power & Gas Company Ltd, (ASX:APK) (Australian Power & Gas) is strategically positioned with a full suite of gas and electricity retail licences in Victoria, NSW, QLD, SA and the ACT.
(Updated: 20-5-2009)
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