The market is up 23. The SFE Futures were up 14 this morning.

Wall St closed up 81 overnight. This was the seventh rise in eight sessions and the S&P 500 rose above its 200-day MA for the first time in a month. The European Commission raised their Eurozone GDP forecasts from 0.9% to 1.7% in 2010, sending the euro up 1.5%. Warren Buffett said he is a huge bull and that the US will not have a double-dip recession. Oil rose $0.74 to $77.19 and Gold was up 60c to $1247.10. The Aussie dollar rose to 93.53c from 92.98c.

Today’s main points…

  • Sundance Resources (SDL) up 18% to its highest price in 2 years after signing an initial accord with China Harbour Engineering to study construction of a port as SDL seeks to develop a $3.6bn iron ore mine in West Africa.
  • The FIRB have ruled they have no objection to the Carlyle Group and TPG’s $2.7bn takeover of Healthscope (HSP). HSP will have a shareholder meeting to vote on the deal on Sept. 22. HSP up 0.5%.
  • Stephen Conroy has defended Telstra’s (TLS) lack of disclosure following criticism by the Future Fund’s David Murray. Conroy, the Minister for Communications, blamed the election for the hold up but said all information will be distributed to shareholders. TLS down 0.7%.
  • If Santos’ (STO) $16bn GLNG project is to avoid further delays the new Environment Minister Tony Burke will have to review and approve the project within four weeks. Former Minister Garrett delayed approval over concerns of the long term impact of CSG extraction on groundwater but Burke is considered more progressive and is “privately welcomed by the Qld LNG industry”. STO up 2.6%.Rio Tinto (RIO) will invest US$803m to ramp up the underground block cave project at its Argyle Diamond Mine in WA. The underground will be fully operational in 2013 and will extend mine’s life until at least 2019. RIO up 30c to 7560c.More RIO news…the company has applied for environmental approval of a $900m expansion to its $1.09bn Weipa bauxite operations to allow it to increase production and extend operations by about 40 years.Nufarm (NUF) up 6.67%, a 22% gain from last Monday, on no news. Its 20% shareholder, Sumitomo Chemicals, is “preparing to announce further progress in their development agreement,” according the AFR. A 16% jump in the winter crop production forecast for the crop year ending in March 2011 may have helped too.Troy Resources (TRY) Chairman John Dow will resign in November and be replaced by David Dix. TRY down 1.8%

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