The market is up 37. The SFE Futures were down 7 this morning.

Wall St. closed down 14 on Friday. The Dow was up 10 at best and down 61 at worst. Gold has another strong session — up $6.60 for the 6th day in a row — despite a stronger US$. Oil price fell 76c to $76.72. Homebuilder DR Horton fell 15% after announcing a lower-than-expected profit result. The Aussie dollar fell to 91.50c.

In the news today…

  • Not a lot economic news in Australia this week but the US is cramming five days worth of economics into just three days thanks to the Thanksgiving holiday.
  • James Hardie (JHX) — 2Q/1H profit result came in better than expected. JHX up 7%. Excluding significant items, it announced an operating 2Q profit of $US37.6m, up 4% of last year, above analysts’ expectations. Patersons maintain their Sell recommendation saying the stock is trading on a FY10 PER of 29x.
  • Rio Tinto (RIO) says it will receive at least $741m from the IPO of US coal producer Cloud Peak Energy. It has announced asset sales of $8.3bn since February 2008 to reduce its debt after its Alcan acquisition.
  • WorleyParsons (WOR) announces a $70m plus construction services contract for Suncor Energy Services. WOR up 10c to 2705c.
  • ANZ Bank (ANZ) has completed the acquisition of RBS in Philippines and announces it will complete the remaining RBS acquisition mid next year. ANZ up 9c to 2184c.
  • Talk of the cashed up ANZ Bank (ANZ) eyeing off Suncorp (SUN) as a potential acquisition. SUN up 2c to 874c.
  • Talk of Woodside Petroleum raising further debt to fund the additional Pluto costs, putting its credit rating further under pressure. WPL down 39c to 4830c.
  • Sims Group (SGM) down 4% after completing its $400m institutional placement.
  • Australian new motor vehicle sales increased 3.7% to a seasonally adjusted 81,122 units in October from 78,243 in September.
  • One broker says it is unlikely that BHP Billiton will launch another takeover for Rio Tinto saying most of the benefits of a full takeover will be captured in the iron ore JV.
  • Commonwealth Property Office Fund (CPA) — in a trading halt — pending a major transaction. CPA last traded at 98.5c.
  • Companies hitting fresh yearly highs: Andean Resources (AND), Avoca Resources (AVO), Lihir Gold (LGL), Wilson Htm (WIG).

The Dow Futures are up 33 at midday.

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MARCUS PADLEY is the author of the MARCUS TODAY Daily Stockmarket Newsletter.

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