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Australian Stock Market Report - Midday 22 June 2011
&Rsquo;s biggest gold miner, Newcrest Mining (NCM) is up 1.25 pct or 46 cents to $37.33. NCM was first listed in 1987 and has a market capitalisation of $28.5 billion, making it one of the biggest gold producers in the world. The company’s main operations are in Australia, Papua New Guinea and Indonesia.The 4 big banks are doing well with ANZ Banking Group (ANZ) up 0.84 pct or 18 cents to $21.73, Commonwealth Bank of Australia (CBA) is 0.88 pct or 44 cents higher to $50.70,
Department store owner, Myer (MYR) is making up for yesterday’s pullback and is up 1.45 pct or 4 cents to $2.76 while its competitor, David Jones (DJS) is currently 1.25 pct or 5 cents higher to $4.05.
The defensive healthcare sector is one of the few to be trading lower with ResMed (RMD) one of the worst performers. RMD is down 1.33 pct or 4 cents to $2.97.
Following the end of daylight savings in April this year, major Asian markets will be trading between the hours mentioned below until mid October.
The Hong Kong sharemarket trades in two sessions each day and will now be opening for trade between 11.30am (AEST) and 2pm (AEST) and then between 3.30pm (AEST) and 6pm (AEST) in its second session.
Out of ’s Shanghai Composite index fell 0.22 pct or 5.9 pts to 2640.57.
There is no economic data scheduled for release in Australia or in the Asian region today. However, New Zealand released its latest current account (measuring the difference between imported and exported goods and services in addition to income flows). The reading came in better than expected and shares in New Zealand are up 0.3 pct.
The best performing stock at lunch is Mutiny (MYG), which is up 23.71 pct or 2.3 cents to 12 cents. MYG is an Australian gold explorer based in Western Australia. It was first listed in 2006 and has a market capitalisation (the number of shares on issue multiplied by its current share price) of $35.1 million.
So far today, 1.27 billion shares have been traded worth $2.59 billion. 667 shares are up, 335 are lower and 368 are currently unchanged.
The Australian dollar is a little stronger and buys US105.7 cents.
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The company's main operations are in Australia, Papua New Guinea and Indonesia. The 4 big banks are doing well with ANZ Banking Group (ANZ) up 0.84 pct or 18 cents to $21.73, Commonwealth Bank of Australia (CBA) is 0.88 pct or 44 cents higher to $50.70
THE Commonwealth Bank has become the latest to downgrade its advertising market forecasts, in another sign that a genuine recovery in media stocks remains a long way off. CBA analysts Alice Bennett and Dominique d'Avrincourt have cut their ad market

In the banking space, ANZ Bank, Commonwealth Bank of Australia, National Australia Bank and Westpac are up 1 to 1.3 percent. Bendigo & Adelaide Bank and Bank of Queensland are also trading notably higher. Among mining stocks, BHP Billiton and Rio Tinto
“As China's current account transactions are basically free, offshore yuan eventually could make way back to China,” said Andy Ji, economist and currency strategist at Commonwealth Bank of Australia in Singapore. Lu Zhengwei, a senior economist at
More than 114 institutions using SAS for anti-money laundering include: Banco de Oro Unibank (Philippines), Bank of Queensland (Australia), China Construction Bank (Hong Kong), Coastal Federal Credit Union (US), Commonwealth Bank of Australia
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