BUSINESS

A metal sculpture depicting a stock exchange chart is seen in the reception hall of the Athens Bourse in Athens September 11, 2014. Greece on Thursday set the pricing on its offer to top up its recent three- and five-year bonds by about 1 billion euros (U

Global Markets Overview - December 24, 2014

It was another stellar day for US equities with a much better than expected revised GDP reading triggering the gains. Q3 GDP came in at a whopping 5%, revised from a previous estimate of 3.9% and much better than an expected 4.3%. This was the biggest gain since 2003 and this was enough to keep investors encouraged. Equities extended gains on the news with the S&P and Dow at fresh record highs. The S&P hit 2087 and the Dow topped 18,000. The GDP reading also underpinned the greenback as it ralli...
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Australian Stock Market Report – Afternoon December 23, 2014

Local shares continued to lose ground over the course of Tuesday afternoon. The four preceding sessions saw the ASX 200 rise by 290 points or 5.5%. Local participants shrugged off the positive tone that featured in US and European trade overnight, to the extent that the market ended at the lows of the day.
Today's Ordinaries Index curve is seen at the Australian Securities Exchange (ASX) in central Sydney August 23, 2010. Australian financial markets bet on Monday that inconclusive weekend elections would deliver a change of government, ushering in a new mi

Australian Stock Market Report – Midday December 23, 2014

On the eve of Christmas eve, local shares have taken a pause after 4 sessions of gains in which the ASX 200 has risen by 290 points or 5.5%. The index started the session with a loss of 8 points before trading at the lows of the morning as lunchtime loomed. Local participants looked through the generally positive that featured in US and European trade overnight. European shares were firmer in the latest session with the FTSEurofirst 300 index up by 0.4% and the German Dax up by 0.8%. Investors w...
Australian one dollar coins surround a U.S. one dollar note in this photo illustration taken in Sydney July 27, 2011. Australian consumer prices rose by more than expected last quarter while underlying inflation proved alarmingly high, reviving pressure f

Australian Dollar Outlook – December 23, 2014

It was another quiet night as the markets head into the Christmas break. The USD remains strong. The AUD did rise to USD 0.8170 during the day yesterday, but is back around the recent lows of USD 0.8115.
An employee counts Russian ruble banknotes at a private company's office in Krasnoyarsk, Siberia, December 17, 2014.

Global Markets Overview – December 23, 2014

The Santa Clause rally is rolling on in global equities with sentiment remaining positive as the S&P marches towards its record high yet again. The S&P closed at a record 2077 and is within a couple of points of its December 5 intraday record high of 2079. The bounce in crude oil prices seems to have been a flash in the pan with investors finally realising that comments by OPEC members from the weekend did not imply they will look to correct the current supply situation. In fact, Saudi Arabia se...
People watch a fashion show at the opening night of the Millionaire Fair in Moscow November 27, 2008.

Rich Russians Flee As Country Moves Toward Recession

Like their Chinese counterparts who snapped up properties in London, New York, Sydney and other global cities when Beijing imposed cooling measures on its red-hot real estate market, uber rich Russians are abandoning ship.
A view of a neighborhood with three story homes in Las Vegas, Nevada April 4, 2013. The buying of foreclosed homes and other distressed homes by three big institutional buyers is reshaping the housing market in Las Vegas.

Australian Stock Market Report – Morning December 23, 2014

In US economic data, the national activity index rose from a revised reading of +0.31 in October to +0.73 in November. Existing home sales fell by 6.1% to a 4.93 million annual rate in November, down from an expected level of 5.2 million.
New York Stock Exchange

Australian Stock Market Report – Afternoon December 22, 2014

Australian shares improved for the fourth straight day with the ASX 200 Index up 1.9 per cent and finishing near intraday highs. Generally markets are quiet as we approach Christmas; however a surge in oil and iron ore prices on Friday have helped both energy and mining industries gain strongly.
A man is reflected as he walks past the Australian Securities Exchange building in central Sydney April 8, 2011. Singapore Exchange Ltd has terminated its $8 billion bid for Australia's ASX Ltd after the Australian government formally rejected the offer o

Australian Stock Market Report – Midday December 22, 2014

The ASX 200 has started a holiday shortened week in the same fashion it ended the previous week; with solid gains. At lunch on the east coast the index was close to the best levels of the day. Local stocks pressed ahead on the back of gains for US stocks at weeks end, which capped off an encouraging week on Wall St. After being up 96 points, the Dow Jones finished higher by almost 27 points or 0.2%. The S&P 500 index rose by 0.5% while the Nasdaq lifted by 17 points or 0.4%. For the week, the Do...
U.S. one-hundred dollar bills are seen in this photo illustration at a bank in Seoul August 2, 2013. Picture taken August 2, 2013.

Global Markets Overview – December 22, 2014

Markets ended last week on a positive note with the post-FOMC meeting bid tone continuing to resonate through the globe. The rebound in oil prices also helped underpin sentiment to an extent. While equities drifted higher, there were some notable moves in the fx space with the greenback gaining significant ground against the euro and yen. EUR/USD plunged to $1.222, breaking below its early December lows and now trading at its lowest sinceJuly 2012. The main event for Europe this week will be Gre...
An office worker is reflected in the window of the Australian Securities Exchange building displaying the ASX50 curve for Wednesday in central Sydney August 7, 2013. Australian shares skidded 1.3 percent on Wednesday, its biggest fall in five weeks, hit b

Australian Stock Market Report –Afternoon December 19, 2014

Australian shares completed a trifecta of winning days on Friday, closing around the best levels of the session. Over the course of the last week the ASX 200 has risen by almost 2.3 % , balancing the loss of the pre-ceeding week when the market fell by almost 2.2%.

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