Markets quiet as traders await major announcements

Tuesday, 27 November 2012, 12:06 pm
Press Release: CMC Markets

10.04 AEDT, Tuesday 27 November 2012

By Ric Spooner (Chief Market Analyst, CMC Markets)

The Australian market looks to be in for another quiet day’s trading with relatively flat prices.

There were really no moves of any significance in major markets last night. While US stock markets and some major commodities were a little weaker, these moves were really just minor oscillations in quiet markets that provide little in the way of a macro lead for local investors.

Markets have a couple of major news events before them in the shape of announcements on Greek bailout funding and negotiations on the US Fiscal cliff next month. The general expectation is that reasonable compromises will be negotiated on both these issues and markets are priced for this outcome. However, current valuations reflect the reality that even with these issues safely behind us, at least for the short term, developed economies face the prospect of a long hard slog of moderate growth weighed down by the government and household debt repayment. This is likely to limit the extent of positive market reaction to any announcement of a negotiated solution for Greece’s liquidity funding in the short term.
ends

Business Headlines | Sci-Tech Headlines

BUSINESS, SCIENCE & TECH > >

Sky Loses To Coliseum Bid: TVNZ Scores Free TV Rights For English Premier League

TVNZ has confirmed it is partnering with Coliseum Sports Media to bring TV coverage of football’s Barclays Premier League to Kiwi sports fans. TV ONE will present a match of the week game every Sunday from the start of the season. The channel will also broadcast an hour long highlights show on Monday nights. More>>

ALSO:

Out-Link - The future: be careful what you wish for • Hard News • Public Address

Company Fails To Provide Records: Initial Action Over $4-An-Hour Wage Claims

The Ministry of Business, Innovation and Employment has filed action with the Employment Relations Authority (ERA) in Auckland against an Auckland restaurant chain following complaints that workers are being paid less than $4-an-hour. More>>

Greens: Fonterra To Avoid Drilling-Waste Farms

Fonterra has released information to Radio New Zealand detailing costs of $80,000 a year to test milk from a few farms which have been used as sites for drilling waste from the oil and gas industry and it announced a policy not to collect milk from any new land farms. More>>

ALSO:

Climate Justice Taranaki - "Good on Fonterra"
Audio Out-Link - Radio NZ : Fonterra to stop taking milk from some farms

Earlier:

Greens - Fonterra should suspend milk from oil and fracking land
Organic NZ - Toxic Fracking Waste Entering Food Supply?
Federated Farmers - Taranaki political opportunism appals farmers

Beer: Tuatara Set To Grow With New Investor

In a sale sealed over ale, Tuatara Brewing Company has announced it has sold a 35 percent stake in the business to a Wellington-based investment company. Rangatira Limited paid an undisclosed sum for its share which will see Tuatara are look to increase exports to the United States and boost production volume. More>>

ALSO:

Scoop Business - Rangatira buys 35% stake in Tuatara Brewing
Tuatara Brewery - Tuatara Gains Cornerstone Shareholder - Rangatira Limited

Stat! New Statistics NZ Chief Executive Appointed

State Services Commissioner, Iain Rennie, today announced the appointment of Liz MacPherson to the position of Chief Executive of Statistics New Zealand and Government Statistician. Ms MacPherson is currently Deputy Chief Executive, Strategy and Governance at the Ministry of Business Innovation and Employment (MBIE). More>>

PC Magazines Gone. Mad? Fairfax Magazines Resign Technology Title Licences

Fairfax Magazines will resign the licences, owned by IDG, to publish technology titles Computerworld, Reseller News and PC World early next month. More>>

ALSO:

Gordon Campbell - RNZ Finds Leader, Leader Finds Port in Fairfax Storm
Radio NZ - New York Gold for Kim Hill
Out-Link - Media3: Game On • Hard News • Public Address

Scoop Business: Mediaworks Receivership - New Ownership Planned

MediaWorks NZ, the broadcaster whose stable includes TV3 and Four, and radio stations including Radio Live, the Rock and MoreFM, is “well advanced” with plans for new ownership after being placed in receivership this morning. More>>