Having seen May's UK election result in a hung Parliament, last weekend it was the turn of the Australian electorate to leave its nation in a state of political limbo. Given Australia's position as a key player in the world of natural resources, the election result down under is of significant importance to global equity markets.

Dell’s second quarter result has been over-shadowed by its tussle with larger rival Hewlett-Packard (HP) for data storage provider 3PAR. Dell initially announced that it planned to purchase 3PAR for $18 per share, representing a massive 90% premium to the stock’s previous price. The size of the premium raised the prospect that Dell was overpaying, but HP clearly didn’t think so judging by its subsequent counter offer of $24.

Impressive growth from DirecTV’s Latin America business boosted second quarter operating income. At the group level, DirecTV delivered operating income of just over the $1 billion mark for the first time and surprised the market on several elements of its performance. The company is expecting steady growth and stable churn, supported by new products and further capital management.

When we last covered Jaguar Mining in mid-April we noted that the group aimed to increase production for around 155,000 ounces in 2009 to 679,000 ounces in 2015. Since there have been operational issues which have reduced output and increased costs. These should be resolved in time and the longer-term growth prospects remain in place. With a strong backdrop for gold we continue to rate the group a hold.

Aftershocks from the financial crisis will remain with us for quite some time, but Westfield’s first half result to June 2010 clearly demonstrates that the worst is in the past.