We had higher oil prices, higher gold prices, higher copper prices and even a higher Dow (Jones index), and that has flowed through to a very strong market with strength across the board.
What we've seen last night is a lot of hot air coming out...it may go on for a number of weeks but it's just a healthy part of the market. Over the next three years, we believe targets well beyond the all-time high of US$850 an ounce are achievable.
A positive, was their cost-to-income ratio. There has definitely been some progress on costs.
Fletcher has indicated he wants to focus on other divisions.
The appetite for infrastructure type of investments in Australia has been enormous in the last five years. The yield is very attractive and financial institutions like the stability and predictability of cash flows that they offer.
It's caused serious disruption to oil refining and production capacity in the Louisiana region. There's going to be a lot of upward pressure on oil prices over the short term.
