Energy

A rally in the Dow failed last night as once again Moody’s threatened to downgrade the big monoline insurers. Oil fell further.

Weekly musings from your editor. Banks are out, resources in. But that doesn’t necessarily mean all of them, does it?

It was shades of Bear Stearns last night as the rumour mill conspired to send Lehman down as much as 14%, while oil fell over US$3 after stern words from the Fed.

New regulations are about to hit financial markets in the US and Australia, and in Australia the four pillars policy has been ratified. Good or bad?

The US financial sector index closed below its March 17 low last night, sending the Dow down 134 points.

Origin Energy rejected BG’s revised offer and lifted its gas reserves significantly, forcing brokers to re-run their models and so generating higher valuations and price targets on the stock.

Benign US personal income and spending data meant tidy up for the month and take off for the weekend.

Oil fell over US$4, gold fell over US$20, and base metals were hammered. The Dow? Who cares?

Weekly musings from your editor. Yesterday’s false start has been followed up by one story you don’t want to miss.

ANZ Bank suggests profit taking may hit commodity markets in coming sessions, with lower oil prices to push gold and base metal prices lower in sympathy.