PoliticsAustralia: Aussie party shifts to new Prime Minister from Rudd to Gillard

Australia's governing party replaces Prime Minister, moving its number two into the leading position, Julia Gillard. In response the stockmarket edged upwards, but the flush-out issue is not resolved:  the govt's planned mining tax.

MARKET PULSE

June 23, 2010, 8:43 p.m. EDT · Recommend (1) · Post:  

Australian shares gain after Gillard named PM

Related stories

• Australia PM Rudd quits; Julia Gillard to lead (7:39p)
• Australian mining-tax changes reportedly imminent (June 14)
• Asian stocks fall on weak U.S. sentiment (5:41a)
• Australia's Rudd: Mining-tax plan changes likely (June 10)

STORYQUOTES

AlertEmailPrintShareBy Michael Kitchen

AU:BHPBHPAU:RIORTPAU:FMG

LOS ANGELES (MarketWatch) -- Australian shares moved higher in early Thursday trade, with resource shares higher after a change in the nation's leadership. The benchmark S&P/ASX 200 rose 0.5% to 4,510.4, with mining major BHP Billiton Ltd.(AU:BHP 39.80, +0.66, +1.69%) (BHP 70.00, +0.39, +0.56%) up 2.1%, Rio Tinto Ltd.(AU:RIO 71.95, +1.41, +1.10%) (RTP 52.19, +1.14, +2.23%) rising 2.4%, and Fortescue Metals Group Ltd. (AU:FMG 4.54, +0.11, +2.48%) (FSUMF 3.85, -0.05, -1.28%) gaining 3.6%. The gains came as Prime Minister Kevin Rudd resigned in favor of his deputy, Julia Gillard. Questions remain over whether Gillard will change tack on Rudd's controversial mining-tax plan. Airlines also rose as crude-oil futures eased, with Qantas Airways Ltd. (AU:QAN 2.38, +0.03, +1.28%) (QUBSF 1.95, -0.15, -7.14%) up 0.9%, and though Virgin Blue Holdings Ltd. (AU:VBA 0.31, +0.01, +1.64%)(VBHLF 0.27, +0.04, +15.22%) gave up opening gains to trade flat.

-- EconoMix

Terrorism: SouthWest Pacific: Indonesia and Australia avert a massive 2nd Bali, Solomon Islands disaster, Tamil separatists 'airforce"

Here are three brief items from Christian Science Monitor email newsletter (Apr4,2k7):

Indonesia/Australia joint anti-terrorist action:

Joint action by the security forces of Indonesia and Australia averted an action plan by jihadists of an extreme Muslim grouping to double the kill rate of vacationing Aussies and other foreign tourists in Bali in recent days.

Solomon Islands disaster lacks relief due to aftershocks:

The first emergency teams arrived in the Solomon Islands to help survivors of the earthquake and tsunami that battered the South Pacific archipelago Monday. The first priorities, officials said, would be to restore communications, then treat the injured and distribute food and supplies. At least 27 aftershocks were reported, forcing thousands of residents to remain on high ground for safety and causing authorities to warn of additional tsunamis. [CSM, Apr3,2k7] A second report a day later stresses that relief is not getting thru yet, and that victims of the flooding caused by the tsunami lack shelter, drinkable water, and food.

Sri Lanka's separatist Tamil Tigers go airborne:

LTTE, the organizational name for the ruthless separatist movement in Tamil areas of Sri Lanka have put an airplane in the sky to bomb forces of the national Sri Lankan military.