BUSINESS

Arms Dealers, Traffickers are World’s Harbingers of Doomsday – Pope Francis

Pope Francis waves as he arrives to lead his weekly general audience at St. Peter's Square at the Vatican June 11, 2014. REUTERS/Giampiero Sposito (VATICAN - Tags: RELIGION)
Probably feeling refreshed and well-rested after a 2-day absence from the job, Pope Francis blasted the corrupt, slave laborers, arms manufacturers and human traffickers during his general audience on Wednesday. He described people or institutions producing weapons of war are "merchants of death" and therefore the world's harbingers of doomsday.

Global Markets Overview – June 12, 2014

Equities unwound overnight in a move that started in European trade. Data in the US was limited and as a result investors just chose to focus on a couple of negative headlines. The World Bank lowered its global growth forecast for 2014 to 2.8% (from 3.2%) and the shock Eric Cantor loss was among some of the headlines investors focused on.

Australian Stock Market Report – Morning June 12, 2014

In US economic data, the Federal Budget was in deficit by US$130 billion in May, in line with market expectations. New mortgage applications rose by 10.3% in the latest week with the purchase index up 9.3% and the refinancing index up 11%.
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Australian Stock Market Report – Midday June 11, 2014

The Australian market is under pressure at lunch, wiping out yesterday's modest gains. The All Ordinaries Index (XAO) is down 0.3 per cent, with weakness from the miners, industrials and energy stocks most substantial. Gains from two of the four major banks are helping minimise today's losses. Markets overnight ended flat, providing an uninspiring lead for local stocks.
China exports

Global Markets Overview – June 11, 2014

Global markets were in a holding pattern through European and US trade, with limited activity on the economic calendar. Perhaps the highlight was a further slide in the single currency, which helped keep equities afloat in Europe. However, emerging markets remain buoyant on the back of the measures China is taking to stimulate the economy. China's move to cut reserve required ratios for a number of regional and agricultural banks saw Asian equities mostly enjoy gains yesterday with the excep...

Australian Stock Market Report – Morning June 11, 2014

In US economic data, wholesale sales rose by 1.3% in April, above forecasts centred on a 0.8% gain. Inventories rose by 1.1%, ahead of forecasts suggesting a 0.5% gain. And weekly chain store sales were up by 3.3% on a year earlier, down from the 3.5% gain in the previous week.

Australian Stock Market Report – Afternoon June 10, 2014

Gains for the ASX 200 faded over the course of the afternoon. At the best levels of the session the index was ahead by 32 points, at the lows of the day the market was down by 1 point. At the closing bell the bourse ended with its nose in front by just over 5 points. Participation was lower than average with less than $4bln shares changing hands.

Australian Stock Market Report – Midday June 10, 2014

The Australian share market is trading higher in the early session, as investors returned from the long weekend in a buying mood. Positive economic data out of the US overnight and solid Chinese trade data figures released on the weekend have given support to sentiment.

Global Markets Overview – June 10, 2014

Yesterday's trade balance from China might be the first nominal piece of data that could confirm targeted easing is taking effect. May exports rose more-than-expected, by 7%, as overseas shipments ramped up on the back of improving signs from Europe and the US.

Australian Stock Market Report – Afternoon June 6, 2014

The Australian sharemarket continued to improve this afternoon, taking the gains to almost 0.5 per cent. Gains from U.S. markets and the first interest rate cut in six months for the European Central Bank helped lift stocks overnight. Improvements from the major banks accounted for around half of the market's gains today.

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