Australian shares were flat in early trade after poor results from US banks capped gains from more positive mining figures and economic data overnight.
BHP Billiton looks set to break its first-half profit records despite softer iron ore prices, with a surge in production giving the global miner confidence it will beat full-year targets for the st
US stocks followed European counterparts higher on Tuesday buoyed by encouraging economic news from Germany and China, and a strong reading from a New York regional economic activity indicator.
The Australian dollar rose more than one US cent after trader sentiment was buoyed by the publication of stronger than expected economic growth in China.
Silver Lake Resources has reported a 186 per cent increase in half-year pre-tax profit to $24.6 million, on the back of record production at its Mount Monger gold operation.
Australian shares closed at their highest level in five weeks after better than expected Chinese economic growth buoyed already optimistic investor sentiment.
Prime Minister Julia Gillard says she's concerned about reports that Australian mining companies are being forced to buy Chinese equipment to secure minerals export contracts.
The federal government must better explain the productivity gains that small and medium businesses can achieve from the National Broadband Network, a new report on technology investment says.
Manganese miner OM Holdings expects to post a loss of about $12 million for the 2011 calendar year, due to the high Australian dollar and several one-off costs.
Iron ore pellet producer Grange Resources has forecast a lift in full year output by as much as 15 per cent because of better conditions at its Savage River mine in Tasmania.
Engineering firm RCR Tomlinson has won a $30 million contract to provide design and manufacturing works for BHP Billiton Iron Ore's Yarnima power station in Newman.
Ten Western Australian suburbs have been ranked in the nation’s top 50 for potential capital growth, as the state’s resources boom intensifies demand for residential property.
Fortescue Metals Group says it is confident it will find enough customers for its iron ore when it ramps up annual production to 155 million tonnes from next year.
It’s not often you get to see a two-horse race with more than $10 billion riding on the result, but in Western Australia today that is precisely what’s happening in the iron ore industry.
Prime Minister Julia Gillard says the opposition is being "deeply irresponsible" by talking down the Australian economy while markets are skittish over the European debt crisis.
French President Nicolas Sarkozy has warned Europe faces an "unprecedented crisis" but urged calm in the face of Standard & Poor's multiple eurozone rating downgrades.
Australia's banks will endure mandatory stress tests imposed by the International Monetary Fund (IMF) to ensure they can withstand another financial crisis.
