Gerard Minack News
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Australian stock futures rose as U.S. home sales climbed and investors speculated central banks will continue to stimulate the economy. Japanese equity futures fell as the yen strengthened against the dollar.
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Australia’s new Prime Minister Julia Gillard is still likely to introduce a tax on resources profits following negotiations with mining companies over the levy that helped the premier oust her predecessor, Morgan Stanley said.
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Investors should buy put options on Australian real estate and bank shares to profit from the likely bursting of the country’s housing market bubble, Morgan Stanley said.
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Buying of Australian dollar debt by central banks helped cut expectations for swings by the most among developed currencies this year, cementing a role that led Morgan Stanley to dub it the South Pacific Swiss franc.
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Bob Katter , it’s often said in Australia, has gone bananas.
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Asian stocks fell, dragging the MSCI Asia Pacific Index to its biggest slump in almost three weeks, after disappointing earnings forecasts at U.S. companies fueled concerns about growth in the world’s largest economy.
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Commonwealth Bank of Australia , the nation’s biggest mortgage lender, said concerns about a housing bubble in Australia are driven by a “superficial or incomplete analysis” of the nation’s property market.
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Australian shares fell and Japanese stock futures were little changed amid concern about the impact of the U.S. budget debate on economic growth and as conflict in Israel spurred an advance in crude oil prices.
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Apartment prices in the luxury beachside Australian town of Noosa Heads have tumbled by a fifth since 2008 as cracks emerge in a housing market that’s so far escaped the rout seen in the U.S., U.K. and Ireland.
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The following is a list of companies whose shares may have unusual price changes in U.K. and Irish markets. Stock symbols are in parentheses and prices are from the last market close.
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