BRIEFS
Deficit down
Australia's trade deficit narrowed in December, official figures show. The balance on goods and services was a deficit of $427 million in December, seasonally adjusted, compared with an upwardly revised deficit of $2.788 billion in November, the Bureau of Statistics said. Exports rose 3 per cent, while imports fell 6 per cent.
VEHICLES
Strong sales
New vehicle sales made a strong start in 2013, despite a sharp drop in purchases by state and federal governments. Sales of new vehicles were up 11.3 per cent in January, compared with the same month in 2012, figures released by the Federal Chamber of Automotive Industries show.
FOOD
McCain buys
Frozen foods supplier McCain Foods has acquired Kitchens of Sara Lee Australia from Hillshire Brands for $82 million. The acquisition includes a factory at Lisarow in NSW and licence rights to the Sara Lee brand.
RESOURCES
Atlas Iron up
Atlas Iron says estimates for its Pilbara iron ore reserves have risen 21 per cent to almost 500 million tonnes over the past seven months. Atlas has recently indicated it could beat its full year sales guidance after shipping more lower-grade iron ore than expected in the December quarter.
Frequently Asked Questions about this Article…
Australia's trade deficit narrowed in December to a seasonally adjusted deficit of $427 million, according to the Bureau of Statistics. That compares with an upwardly revised deficit of $2.788 billion in November. Exports rose 3% in December while imports fell 6%.
In December exports increased by 3% and imports fell by 6%. For everyday investors, this shift matters because improving trade balances can reflect stronger demand for Australian goods overseas and reduced reliance on foreign goods, which may support companies in export-oriented sectors and influence broader economic indicators.
New vehicle sales were strong in January 2013, rising 11.3% compared with January 2012. The Federal Chamber of Automotive Industries reported the lift came despite a sharp drop in purchases by state and federal governments.
Stronger new vehicle sales typically point to healthier consumer demand for cars, which can benefit vehicle manufacturers, dealers and related service companies. Everyday investors may want to watch monthly sales trends and manufacturer reports for signals about consumer spending and sector momentum.
Frozen foods supplier McCain Foods acquired Kitchens of Sara Lee Australia from Hillshire Brands for $82 million. The acquisition includes a factory at Lisarow in New South Wales and licence rights to the Sara Lee brand in Australia.
The $82 million acquisition gives McCain Foods additional manufacturing capacity (the Lisarow factory) and licence rights to the Sara Lee brand, potentially expanding McCain's product range and market presence in Australia. Investors in food companies may see this as a consolidation move within the frozen foods sector.
Atlas Iron reported that estimates for its Pilbara iron ore reserves rose 21% to almost 500 million tonnes over the past seven months. The company also indicated it could beat its full-year sales guidance after shipping more lower-grade iron ore than expected in the December quarter.
Investors should watch Atlas Iron's ongoing production and shipment volumes, the mix of ore grades shipped (higher or lower grade), and any updates to official sales guidance. Reserve growth to nearly 500 million tonnes and stronger-than-expected December-quarter shipments are important operational signals for the company's future supply and revenue potential.
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