real-time news and commentary for investors
Sunday, Aug 4
Australian PM calls election for September 7
- Australian Prime Minister Kevin Rudd has called a general election for September 7, saying the poll will be about who can best lead the country "through the difficult new economic challenges which now lie ahead."
- Rudd's Labor Party has reduced the lead of the right-of-center Liberal Party since Rudd deposed Julia Gillard as PM six weeks ago in an internal Labor coup.
- The Liberals, led by Tony Abbott, have vowed to scrap mining and carbon taxes if they win the ballot, policies that would affect the likes of BHP (BHP), Rio Tinto (RIO), Peabody Energy (BTU), Vale (VALE), and Glencore (GLCNF.PK).
- Relevant country ETFs include: Stocks - EWA, EWAS, KROO, AUSE, FAUS. Bonds - AUD, AUNZ; Forex - FXA, GDAY, CROC