ASX Stocks to Watch: AWE Limited (AWE)

AWE Limited (ASX:AWE) is a small oil and gas explorer and producer. The majority of its operations are located in Australia and New Zealand, though the company is becoming increasingly interested in international operations.

The company’s major projects are the onshore Casino gas field (Otway Basin, SA), Cliff Head project (Perth Basin, WA) and the BassGas project (VIC & TAS) and now, the Perth Basin.

Over the last year, AWE has underperformed its peers hurt by a shift in its growth focus from conventional exploration plays to unconventional Australian/US plays. It has also suffered from some reserves downgrades over the past 12 months and it has generally been one of the shares to sell over the period.

Macroeconomic factors have seen significant weakness in the commodities space which has resulted in a huge selloff in resource stocks.

Being an explorer, AWE’s share price is largely driven by sentiment and commodity prices. With both turning negative, we feel AWE has significant downside risk.

Earnings need oiling

Last month, AWE announced a FY11 net loss of $117.6 million, which compared to a $28.9 million loss a year earlier.

Excluding one-off items, the underlying loss was $16.1 million.

Revenue for the period fell 14% to $305 million, with oil production down sharply from the prior year.  However, this was partly offset by stronger oil prices and gas sales.

This revenue was achieved on production of around 6.1mmboe.

AWE forecast FY12 production of 5.0mmboe – 5.5mmboe, and revenue between $270 million and $300 million.

This production forecast is lower than FY11’s production due to a four to six month Bass Gas outage.

It has budgeted $50 million for exploration expenditure and $150 million for development expenditure.

Looking ahead

In its operating budget for FY12, AWE hopes to deliver this revenue at a US$100/bbl brent oil price.

We feel this price is highly optimistic considering the current global economic conditions.

Oil prices are already down to around US$81/bbl with forecasts pointing towards an even lower price.

Just over the past month, brokers have downgraded earnings forecasts for AWE by around 20% to 30%.

During market downturns, investors tend to use share price weakness as an opportunity to buy established producers at significant discounts which leaves the explorers like AWE out to dry.

With risk appetite swiftly disappearing in global markets, we are likely to see energy commodities and subsequently energy stocks like AWE continue to be sold off.  It will be one of the stocks to watch in coming months.

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ASX Energy Shares News: Paladin Energy (PDN)

Paladin Energy (ASX:PDN) is a uranium miner, with projects located in Africa and Australia.

PDN's long-term goal is to establish itself as a uranium producer through identifying, acquiring and evaluating advanced uranium projects.

Today, PDN completed a $68.2 million institutional placement, priced at $1.20 per share.  This represents an 8.4% discount to its last closing price.

The group said the raising, combined with future operating cash flow and asset sales, will give it the financial flexibility to achieve its objectives.

The stock has been smashed after coming out of trading halt, and it has so far been the worst performer in the Australian share market.

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ASX Blue Chip Stocks News: Wesfarmers (WES)

Wesfarmers (ASX:WES) is Australia’s leading conglomerate, headquartered in Perth, Western Australia.  It is also widely considered among the market’s blue chip stocks.

The company owns several iconic Australian businesses, including supermarket chain Coles, hardware retailer Bunning’s Warehouse, discount department stores Target and K-Mart, and office supplies provider Officeworks. WES also involves in industrials supplies distribution, coal mining, fertilisers, chemicals and general insurance.

Today, WES announced that it has sold its Premier coal mine to Chinese-based Yancoal, for $296.8 million.

The deal needs approval from Australian and Chinese regulators, and WES said that the sale would generate an additional $90 million in pre-tax profit.

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ASX Small Caps Shares News: Goodman Fielder (GFF)

Goodman Fielder (ASX:GFF) is Australasia's leading listed food company, delivering products to over 30,000 supermarkets, convenience stores and food service customers throughout Australia, New Zealand and the Pacific Islands.

The company owns a host of iconic bakery and dairy brands, including Meadow Lea, Praise, White Wings, Pampas, Mighty Soft, Helga's, Wonder White and Irvines.

GFF has announced a $259 million capital raising to improve its balance sheet flexibility.

The group warned that trading conditions were difficult in its baking and dairy divisions, as it contended with higher commodity prices and reduced demand for its brand name products.

It has been one of the shares to sell in recent times due to these problems.

The new equity will be priced at 45 cents a share, representing a 24% discount to its last closing price.

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Mining Stocks News: Rio Tinto (RIO)

Rio Tinto (ASX:RIO) is one of the world’s largest miners, mining and processing a wide range of metals and minerals including all the key base metals, precious metals, diamonds, iron ore and energy products.

The miner is widely considered among the blue chip stocks, and it is also among the biggest companies in the Australian share market.

Today, media reports have suggested that RIO is considering spinning off its aluminium assets in Australia.

RIO said last week it was planning asset sales in the aim of achieving a 40% EBITDA margin from its aluminium division by 2014.

The reports said RIO would hold its two bauxite mines as these offered the highest margins due to a supply shortage in China.  Bauxite is a key source of aluminium.

Instead the asset sale would comprise three refineries and three smelters, according to the reports.

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ASX Shares to Buy: Coca-Cola Amatil (CCL)

Coca-Cola Amatil (ASX:CCL) is an Australasian bottler for US-based The Coca Cola Company.

CCL manufactures, sells and distributes Coca-Cola products, including carbonated soft drinks, mineral waters and other non-alcoholic beverages, plus packaged fruit.

It is also considered among the market’s blue chip stocks.

Over the years, the company has successfully reduced its percentage of sugary carbonated beverages and increased its percentage of non-carbonated beverages, alcoholic beverages and food, in order to diversify its earnings stream.

It has also ventured into the manufacture and distribution of premium beer brands and the premium spirit portfolio of global distributor Maxxium through Pacific Beverages (a JV entity between CCA and SABMiller).

The company delivered a solid first half result last month helped by its strategic product positioning in key markets.

Market ace

CCL stands to benefit from SABMiller’s takeover of Foster’s Group. The move is likely to result in the Pacific Beverages joint venture being dissolved.

CCL management estimates it could book a profit of $200-$300 million on the $305-$380 million sale of Pacific Beverages to SABMiller.

From an EPS perspective, this would be equivalent to a 2%-3% accretion.

CCL will also have the opportunity to acquire some of Foster’s assets at multiples that would be EPS accretive to CCL.

As an overall entity, CCL has grown from strength to strength in recent years. The company’s diversification strategy has been key to this growth, which has included the addition of alcoholic beverages.

Drink up to earnings

CCL last month reported a 27.8% decline in 1H11 net profit to $153.6 million.  An interim dividend of 22 cents was declared.

The result was impacted by an $80.5 million charge related to the restructuring of its SPCA Ardmona division.

Underlying profit rose 5.5% to $234.1 million, with revenue growing 3.3% on-year despite the impact of the recent flooding and consumer caution.

At an AGM in June, CCL had said it was looking to target around 5% growth in underlying profit for the 1H11.

The group has been hurt by the strong Aussie dollar, natural disasters and higher resin prices.

Before currency translation effects, first half profit was expected to be around 6% - 7% higher than the prior year.

CCL was expecting to generate stronger earnings in the second half, but said trading conditions remained uncertain as consumers contended with higher living costs.

Taking into consideration the adverse factors CCL faced during the period, we feel the company delivered a solid result.

Looking ahead

CCL will continue to focus on capitalising on its growing alcoholic beverage and non-carbonated soft drinks market, which are growing owing to modern lifestyle trends.

The company has strong brand awareness, and very stable and highly predictable cashflow compared to its peers.

Coca-Cola Amatil is a defensive company which is protected against inflation as it can pass costs on to customers, who are always willing to spend money on CCL’s famous brands.

With the potential for significant earnings upside from the Foster’s takeover, we feel CCL is in a lucrative position.

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ASX Shares to Buy: Coca-Cola Amatil (CCL)

Coca-Cola Amatil (ASX:CCL) is an Australasian bottler for US-based The Coca Cola Company.

CCL manufactures, sells and distributes Coca-Cola products, including carbonated soft drinks, mineral waters and other non-alcoholic beverages, plus packaged fruit.

It is also considered among the market’s blue chip stocks.

Over the years, the company has successfully reduced its percentage of sugary carbonated beverages and increased its percentage of non-carbonated beverages, alcoholic beverages and food, in order to diversify its earnings stream.

It has also ventured into the manufacture and distribution of premium beer brands and the premium spirit portfolio of global distributor Maxxium through Pacific Beverages (a JV entity between CCA and SABMiller).

The company delivered a solid first half result last month helped by its strategic product positioning in key markets.

Market ace

CCL stands to benefit from SABMiller’s takeover of Foster’s Group. The move is likely to result in the Pacific Beverages joint venture being dissolved.

CCL management estimates it could book a profit of $200-$300 million on the $305-$380 million sale of Pacific Beverages to SABMiller.

From an EPS perspective, this would be equivalent to a 2%-3% accretion.

CCL will also have the opportunity to acquire some of Foster’s assets at multiples that would be EPS accretive to CCL.

As an overall entity, CCL has grown from strength to strength in recent years. The company’s diversification strategy has been key to this growth, which has included the addition of alcoholic beverages.

Drink up to earnings

CCL last month reported a 27.8% decline in 1H11 net profit to $153.6 million.  An interim dividend of 22 cents was declared.

The result was impacted by an $80.5 million charge related to the restructuring of its SPCA Ardmona division.

Underlying profit rose 5.5% to $234.1 million, with revenue growing 3.3% on-year despite the impact of the recent flooding and consumer caution.

At an AGM in June, CCL had said it was looking to target around 5% growth in underlying profit for the 1H11.

The group has been hurt by the strong Aussie dollar, natural disasters and higher resin prices.

Before currency translation effects, first half profit was expected to be around 6% - 7% higher than the prior year.

CCL was expecting to generate stronger earnings in the second half, but said trading conditions remained uncertain as consumers contended with higher living costs.

Taking into consideration the adverse factors CCL faced during the period, we feel the company delivered a solid result.

Looking ahead

CCL will continue to focus on capitalising on its growing alcoholic beverage and non-carbonated soft drinks market, which are growing owing to modern lifestyle trends.

The company has strong brand awareness, and very stable and highly predictable cashflow compared to its peers.

Coca-Cola Amatil is a defensive company which is protected against inflation as it can pass costs on to customers, who are always willing to spend money on CCL’s famous brands.

With the potential for significant earnings upside from the Foster’s takeover, we feel CCL is in a lucrative position.

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ASX Mining Shares to Sell: Paladin Energy (PDN)

Paladin Energy (ASX:PDN) is a uranium miner, with projects located in Africa and Australia.

PDN's long-term goal is to establish itself as a uranium producer through identifying, acquiring and evaluating advanced uranium projects.

The group's current focus is on its African projects: Langer Heinrich (Namibia) and Kayelekera (Malawi).

PDN has been one of the shares to sell this year after facing a number of challenges including a nuclear crisis in Japan.

The future was looking bright for uranium companies like PDN as world energy needs surged on the back of expansion and industrialisation in China and India.

Nuclear energy seemed the next biggest thing until disaster struck this year following the earthquake and tsunami in Japan.

As Japan’s nuclear crisis deepened, the less attractive uranium looked as an energy source for the future.

Germany’s plans to move away from uranium entirely by 2022 have hurt uranium companies further.

In addition, a looming global economic crisis is threatening to slow energy demand worlwide.

Production lacks energy

PDN had a bad start to the year after downgrading its FY11 uranium production guidance to between 6.0 million – 6.3 million pounds (Mlb), from the previous 7 million pounds.

PDN said that second quarter production rose 7.6%, however full year output was going to be affected by power and maintenance disruptions at its Malawi-based Kayelekera mine.

Paladin Energy shares slid 7.7% following the update. To make matters worse, PDN’s final FY11 production came in at 5.7Mlb, completely missing the mark.

Following Japan’s nuclear crisis, PDN announced that it does not have any commercial relationship with Japanese utilities.

It further said that it had a strong balance sheet and is in a good position to meet global uranium demand given the expected supply disruptions.

FY results

Last month, PDN reported an FY11 net loss of US$82.3 million after costs related to acquisitions and mine expansions more than offset higher revenue from increased production.

This was wider than the US$52.9 million net loss reported in the previous year and was also larger than the average US$44 million net loss analysts had expected.

PDN said its costs rose due in part to lower uranium prices in the wake of Japan’s nuclear crisis.

Looking ahead

PDN and its uranium sector peers have been under pressure after a catastrophic earthquake and a tsunami crippled reactors at the Fukushima Dai-Ichi reactor in Japan.

The event has raised fears regarding uranium as an energy choice. Whilst uranium is one of the greenest forms of energy when contained, disasters such as Chernobyl have led to long-standing controversy regarding nuclear power.

With Germany looking to move away from uranium entirely by 2022, there are wide fears that other developed nations will also reconsider their stance on uranium.

This uncertainty is likely to see uranium miners under pressure in the medium to long term with potentially devastating long term effects.

PDN’s price action has suffered, reflecting the underlying issues the company has been facing.

We feel PDN will continue to struggle on a combination of high debt levels, a tough economic outlook and a weak uranium market.

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Australian Shares News: David Jones (DJS)

David Jones (ASX:DJS) is Australia’s second-largest department store retailer.

The company operates a chain of over 35 retail stores and primarily sells upmarket brands of clothing, accessories and homewares and David Jones-branded merchandise.

Like many other retailers, DJS has been one of the shares to sell in recent times due to challenging trading conditions hurting its sales.

Today DJS reported an FY11 net profit of $168.1 million, down 1.5% from FY10 but in line with the company’s guidance.

Sales were down 4.4% on-year, which DJS attributed to a tough retail environment.  The lower sales were offset by a lower cost of doing business.

DJS forecast no improvement in 1Q12 sales from the 4Q11, but reiterated its 1H12 guidance of a 15% - 20% fall in net profit.

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ASX Gold Shares to Watch: Regis Resources Limited (RRL)

Regis Resources Limited (ASX:RRL) is an emerging Australian gold production and exploration company.

Its management team has a successful track record of developing mid sized gold operations within Australia and Africa.

It has been one of the hot shares in the past year, having more than tripled in price since July 2010.

Today, RRL reported a maiden FY12 net profit of $36.3 million.  The result compares to a net loss of $18.3 million in FY11.

The group posted gold sales of $107.9 million as it successfully transitioned from explorer to producer.

RRL said the development of the Garden Well Gold Project will take its output to around 350,000 ounces in FY12/13.

Therefore it will be one of the shares to watch.

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ASX Small Caps Stocks News: Gunns Limited

Gunns Limited (ASX:GNS) is an Australian forestry company, with activities covering the milling, processing and merchandising of timber, merchandising of hardware and building supplies.

It has been one of the shares to sell for much of the past six years, plunging from around $4.40 in early 2005 to current levels around 21 cents.

GNS came out of a six week trading halt today, with the group announcing a restructure of its business and the sale of non-core assets.

GNS said the sell-down of inventory and decommissioned sits is expected to generated around $60 million in 2012.

Furthermore, an agreement with the Tasmanian government may see GNS receive $23 million upon exit of its operations there.

These steps are intended to help GNS retire $340 million of debt in January 2012.  The group also forecast an FY12 underlying EBIT of $40 - $50 million.

The stock has been fairly volatile today, plunging 15% on the open before reversing sharply.  It is currently one of the few gainers in today’s share market action.

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ASX Sell Stocks: Sims Metal Management (SGM)

Sims Metal Management (ASX:SGM) recycles ferrous and nonferrous metals and other materials ranging from other metals to plastics, electronics tyres and refrigerators.

The company has operations in Australia, New Zealand, North America and Europe.

SGM fell heavily over the GFC as commodities crashed, and has since failed to make a significant recovery as the scrap metals market has failed to see a solid price recovery.

A continued deterioration in scrap metal demand bodes poorly for SGM, which has recently reported a string of very disappointing financial results.

Its recent FY11 earnings were fairly robust but SGM’s outlook remains uncertain due to global market volatility.

FY11 results impress

Sims Metal Management had a tough start to FY11 after reporting a 75% on-year plunge in 1Q11 net profit to $8.2 million.

EBIT for the period also slumped 69% to $16.7 million, with SGM attributing the poor result to lower scrap intake, and constrained scrap flows and margins.

Last month, SGM reported a FY11 net profit jump of 52% to $192.1 million, with underlying profit of $182 million topping analyst estimates.

A final dividend of 35 cents was declared. Revenue was up 19% on-year amid stronger scrap shipments and improved pricing.  Intake was higher across all regions, which helped drive profit growth.

An improvement in its US operations was a big contributor to the results. However, no guidance was given due to the global economic uncertainty.

Global pain

Nearly 85% of SGM’s earnings are from North America and Europe. These areas are currently experiencing significant problems with a looming euro debt crisis.

Global difficulties in the form of US political gridlock, that country's first ever credit downgrade, continued European sovereign debt fears, and Chinese inflationary pressures have prevented SGM from providing guidance.

We have also seen the Aussie dollar rally significantly over the past year, adding to the challenges SGM is already faced with.

A higher Aussie dollar results in SGM reporting lower earnings from its overseas operations.

During the last wave of global uncertainty, SGM went through a string of disappointing financial releases.

Looking ahead

SGM has not provided any specific outlook, due to a lack of clarity regarding future economic conditions that could affect scrap flows.

As such it has been one of the shares to sell in recent months.

With a history of disappointment during tough global periods, we feel SGM is not out of the woods yet.

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ASX Blue Chip Stocks News: Rio Tinto (RIO)

Rio Tinto (ASX:RIO) is one of the world’s largest miners, mining and processing a wide range of metals and minerals including all the key base metals, precious metals, diamonds, iron ore and energy products.

The company is one of the biggest on the Australian share market and is widely considered among the blue chip stocks.

Today RIO said it will invest US$833 million to upgrade its integrated power and gas network, and develop fuel supply projects, in the Pilbara region.

The projects will be required to support RIO’s targeted annual production capacity of 283 million tonnes by 2013.

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ASX Top Stocks News: Sigma Pharmaceuticals (SIP)

Sigma Pharmaceuticals (ASX:SIP) is a manufacturer and marketer of prescription, over-the-counter, and generic pharmaceutical products. It is also the owner of a leading full-line wholesale and distribution business to pharmacies.

Today SIP reported a 1H12 net profit of $26.7 million, which compares to a net loss of $9.2 million a year earlier.

SIP’s strong cash flow generation put a major dent in net interest expense, which was a key driver of the profit result.

EBIT jumped 55% on-year, helped by a 9% lift in underlying revenue.  The healthy sales result reflected market share gains.

An interim dividend of 1.5 cents was declared.  SIP said more would be done in the coming year to keep it ahead of industry changes.

SIP has been one of today’s best performers in the Australian share market.  It has also been one of the top stocks in recent months, having more than doubled in price since March.

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Daily Global Financial Markets Video News September 14 2011

Daily Global Financial Markets Video News September 14 2011

Australia Stocks News: Sundance Resources (SDL)

Sundance Resources (ASX:SDL) is an Australian-based international iron ore company developing the Mbalam Project in the Republic of Cameroon in the central west coast of Africa.

Today SDL has been rocked by allegations a Hanlong Mining director is being investigated by ASIC for insider trading.  In July, Hanlong made a $1.2 billion takeover offer for SDL.

ASIC has made interim orders preventing Hanlong’s managing director from leaving Australia, and has frozen assets of other Hanlong staff members.

In response, SDL said its company strategy will be unchanged despite the probe.

SDL shares have been hammered on the back of news.  It has been one of the worst performers in the stock market in today’s session.

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Daily Global Financial Markets Video News September 13 2011

Daily Global Financial Markets Video News September 13 2011

Health Care Stocks News: Cochlear (COH)

Cochlear (ASX:COH) is a world leader in restoring hearing to profoundly hearing-impaired patients.

The company currently occupies a 70% share of the world market for the profoundly hearing impaired (PHI), selling its products in over 100 countries.

COH shares have been smashed today after the group recalled its latest hearing implant range.

The voluntary recall of COH’s Nucleus CI500 range was in response to a recent increase in implant failures.

The group’s shares have been trading lower by more than 20% so far today, making COH the worst performer in the stock market.

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Daily Global Financial Markets Video News September 12 2011

Daily Global Financial Markets Video News September 12 2011

Australian Shares News: Macquarie Group (MQG)

Macquarie Group (ASX:MQG) is Australia’s leading investment bank, and one of the biggest companies in the Australian share market.

MQG has evolved over time into a complex portfolio of businesses which include banking, investment banking, asset management and private equity.

Today MQG cut its 1H12 profit guidance due to difficult trading conditions at a number of its key divisions.

MQG noted that the Macquarie Capital, Macquarie Securities and Fixed Income, Currencies and Commodities businesses were all suffering from the recent market volatility.

1H12 net profit is forecast to be lower than the prior corresponding half’s $403 million result.  However, FY12 earnings were still expected to top FY11 due to an improved second half.

The FY12 outlook was predicated on no further deterioration in market conditions.

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Daily Global Financial Markets Video News September 7 2011

Daily Global Financial Markets Video News September 7 2011

Financial Stocks News: National Australia Bank (NAB)

National Australia Bank (ASX:NAB) is one of Australia’s big four banks, whose divisions span retail and business banking, wealth management, capital markets and institutional banking.

It is one the biggest companies in the Australian share market and is widely considered among the blue chip stocks.

Overnight, newspaper reports suggested NAB is in talks to acquire more than 600 Lloyds branches in the UK.

The acquisition would see NAB merge its Clydesdale and Yorkshire bank units with the Lloyds branches, creating a new major UK lender.

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Daily Global Financial Markets Video News September 6 2011

Daily Global Financial Markets Video News September 6 2011

ASX Top Stocks News: QR National (QRN)

QR National (ASX:QRN) is Australia’s largest rail freight operator and the world’s largest rail transporter of coal from mine to port for export markets.

The group generated significant interest when it floated in November 2010, and it has since been one of the top stocks, having surged almost 30% to date.

Today, QRN announced that it signed a $900 million agreement to construct a rail link to the Wiggins Island coal export terminal.

The project would support an initial 27 million tonnes of coal per annum to the Wiggins Island terminal.

Construction is due to begin early next year, with expected completion by March 2015.

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Daily Global Financial Markets Video News September 5 2011

Daily Global Financial Markets Video News September 5 2011

Mining Shares to Buy: Perseus Mining (PRU)

Perseus Mining (ASX:PRU) is a gold explorer, focused on under-explored gold belts in West Africa.

The group’s Central Ashanti Gold Project has reserves of 3.3 million ounces (Moz) of gold, plus 1.5 Moz Measured and Indicated gold resources and 1.9 Moz Inferred gold resources.

A further 570,000 ounces of indicated gold resources and 1.21 Moz inferred gold resources are held on PRU’s West African projects, Grumesa and Tengrela.

The two projects (Central Ashanti Gold and Tengrela) aim to put out 670,000 oz per year once at full production, which would make PRU Australia's second-largest listed miner by production after Newcrest Mining.

Further mineral resource and reserves upgrades are planned for later this year.

The miner recently completed its first gold pour during commissioning at the Central Ashanti Gold Project.

Though PRU is currently an explorer, the company is on track to become a producer.

PRU’s aim is to become a 400,000 ounce per annum gold producer from 2013, and the company is on target to achieve this following its consistent over-delivery on targets.

PRU is looking promising owing to its exposure to the under-explored gold belts in West Africa and on strength in gold prices.

Operational update

Following a recent updated economic analysis incorporating a revised life of mine plan (LOMP), PRU has planned throughput optimisation upgrades over the next 18 months.

Under the upgrade, average process throughput will increase from 5.5 Mtpa to 7.9 Mtpa.

Average annual gold production is set to increase by 38% to approximately 265,000oz.

Cash costs will drop to US$551/oz with a base case gold price of US$1,150/oz.

As a result, PRU’s EBITDA over the life of the project has increased by 127% to $1.56 billion.

The early start up of the Central Ashanti Gold Project could push the gold miner's EBITDA up to US$300 million a year in 2013 and 2014.

Of course, the company will continue to lose money until it starts producing, although it has ample funding facilities to pursue its exploration activities and mine development plans.

Looking ahead

Perseus Mining is turning market heads over its consistent over-delivery on targets. The group is also in good financial stead, with approximately US$100 million cash.

Though PRU’s recent financial results are nothing to write home about, this is typical of a company in its emerging stages.

PRU is looking promising owing to its exposure to the under-explored gold belts in West Africa and on strength in gold prices.

The group will continue to expand its gold resources through rapid exploration of existing tenements and the acquisition of prospective new projects, while developing the Central Ashanti Gold Project.

Gold has gained significant ground this year, consistently reaching fresh record highs.

However, the precious metal saw a pullback late last week but is still in a good position to register further gains.

The metal printed highs of around US$1900 early last week and continues to hold its ground well above US$1800.

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Daily Global Financial Markets Video News September 2 2011

Daily Global Financial Markets Video News September 2 2011

Daily Global Financial Markets Video News September 1 2011

Daily Global Financial Markets Video News September 1 2011