The market is up 1. The SFE Futures were up 16 this morning.

Wall St. closed up 41 overnight. Financials up, Resources down. The FOMC statement reiterated that interest rates will remain low for an extended period and the conclusion is that they are unlikely to rise until November this year. The disappointment overnight was the weak new home sales numbers suggesting the US housing market is not coming back yet. Metals fell in London, the oil price lost 39c to $74.32 and Gold fell $13 to $1084. The Aussie dollar also fell to 89.55c compared to 89.87c yesterday morning.

Making the news today:

  • CPI numbers yesterday — The universal conclusion after slightly higher numbers than expected is that Australian interest rates will rise after the RBA meeting next week from 3.75% to 4.0%.
  • Newcrest Mining (NCM) – Quarterly Report – 2Q gold production came in at 442,333 ounces, it also produced 23,860 metric tons of copper. It maintains its FY10 gold production guidance of 1.81-1.91m ounces and FY10 copper guidance of 85-90kt. NCM down 24c to 3206c.
  • Whitehaven Coal (WHC) announces 2Q coal production increased 41% to 970,000 metric tons. It also says it has $233m of cash on hand. WHC down 13c to 465c.
  • Webjet (WEB) has announced a 40% increase in 1H net profit to $5.2m, up from $3.7m. It also lifted its dividend by 67% to 5c from 3c, representing a pay out ratio of 72%. They also announced a new alliance with American Express. WEB down 1c to 228c.
  • Alesco Corp (ALS) announces a 23.2% fall in 1H net profit to $9.7m and declared a 7c interim dividend. They expect FY EPS in the 34-36c range and say that although they saw signs of a market recovery in December, January has been trading softer than expected. ALS down 3c to 422c.
  • OM Holdings (OMH) produced 184,242 metric tons in the 4Q of manganese at its Bootu Creek mine. OMH down 1.5c to 179.5c.
  • Super Cheap Auto (SUL) had a profit upgrade and a writedown after hours last night. Expects a jump of at least 20% in the first half following strong growth across its three businesses, Super Cheap Auto, BCF Boating Camping Fishing and Goldcross Cycles. Results on February 18th. SUL down 10c to 496c.
  • ROC Oil (ROC) produced 702,319 barrels of oil equivalent in the 4Q, down from 872,279 in the 3Q due to operational interruptions at projects in Australia and China. ROC down 1c to 66c.
  • Stocks hitting a fresh yearly high include Mantra Resources (MRU) and Macquarie Atlas Roads (MQA). Stocks hitting fresh 52 week lows — Dominion Mining (DOM) and Oilex (OEX).

The Dow Futures are up 15 at midday

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