The stock hit a high of $50 in May 2008 and came close again in April 2011, but at $170 billion, the Melbourne-based company is now valued at some $80 billion less that at its peak.
After adjusting for seasonality, the reading shows that the manufacturing sector is actually improving, thanks to the slew of stimulus measures implemented by the Chinese government.
Inter Pipeline Fund ("Inter Pipeline") (TSX:IPL.UN) announced today that it has entered into a binding Shipper Support Agreement to provide bitumen blend and diluent transportation services to three major oil sands projects owned by the FCCL Partnership ("FCCL"), a business venture between Cenovus Energy and ConocoPhillips.
This week we have meetings involving the ECB and the Federal Reserve followed by the job numbers on Friday. These meetings, summits, announcements have an effect on the investment community in that investment funds tend to stay on the sidelines until the direction of the markets becomes clear.
Looking at all the costs to construct and run power plants, it will be cheaper to build a wind or solar power plant within 18 years rather than one using nuclear or fossil fuel, says a research unit within the Australian Government.
A report indicating weak sentiment on the part of Australian mining companies would appear to substantiate warnings that Australia's flourishing resources sector is headed for a slowdown.