Posted on January 23rd, 2012 
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| Indices | Close | Change | Chg Pct |
| AUDUSD | 1.0493 | 0.0009 | 0.09% |
| ASX 200 | 4225.10 | 14.53 | -0.3% |
| NIKKEI 225 | 8763.25 | 3.11 | 0.0% |
| HANG SENG | 20110.37 | 167.42 | 0.8% |
| S&P 500 E-MINI | 1307.00 | 3.75 | -0.3% |
Australian equities pushed downwards on below average trading flow, exaggerated by market closures
in China, Hong Kong and Taiwan amid the commencement of Chinese New Year celebrations. The Australian
Dollar was little changed against its North American counterpart after domestic producer prices decelerated
for a third consecutive quarter, providing further room for the Reserve Bank to cut its policy rate when officials
meets next month. US Stock Futures declined in Asian trade, while Spot Gold advanced to $1668oz.
Materials finished down slightly. The big mover of the day was Celamin NL (A$0.25, +25.0%)
after the company reported potentially economic thickness phosphate rock from its drilling program.
Imdex (A$2.10, +3.4%) after its JV with DHS acquired oil and gas survey provider, Vaughn Services.
Imdex also reported FY1H12 results with revenue up 44% to A$138.5 million. Mirabela Nickel (A$1.215, -6.5%)
was down with production of 15,854 tonnes of nickel below expectations. BHP Billiton (A$37.24, -0.6%) received
conditional approval for an expansion at its Port Hedland site.
Energy dropped a little but saw notable news from a number of companies. AWE (A$1.455, +5.4%) did well after
it acquired growth assets in Indonesia which include an undeveloped oil field with 76mmbbl potential. Universal Coal
(A$0.255, +18.6%) confirmed it was in talks with investors after receiving informal approaches regarding its
Berenice-Cygnus coking coal project in South Africa.
Financials were flat with Major Banks – ANZ (A$20.87, -0.1%), NAB (A$23.85, -0.1%), Westpac (A$20.46, -1.1%) -
largely unchanged at the end of the day. Commonwealth Bank (A$49.74, – 0.2%) performed similarly but announced
that current Managing Director of Bank West, Jon Sutton, would be replaced by CBA senior executive Rob De Luca.
Mr Sutton will retake a Senior Executive role at CBA. Bank of Queensland (A$7.51, -1.1%) finished lower after being
downgraded by Moody’s.
Origin Energy (A$13.55, -0.1%) was little changed after Sinopec upped its stake in the Australia Pacific LNG
project by 10% for US$1.1 billion. Sinopec also will purchase an additional 3.3 million tonnes per annum of LNG from
the JV.
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