RETAIL/CONSUMER GOODS

Costco opened its new store in Canberra today and the line of customers outside the store has led other retailers to question what the US members' only retailer has done to get such a reception.

AFTERNOON REPORT (4.30pm AEST)Local stocks rallied once again today, after Eurozone leaders agreed on a second bailout package for Greece, sending markets around the globe higher. Hopes are also rising that a deal to lift the US government's maximum borrowing power, or so-called "debt ceiling" will also be reached by the August 2nd deadline.

AFTERNOON REPORT (4.30pm AEST)Local stocks posted a slight win today, but importantly managed to hold onto yesterday's impressive gains, despite slight falls on Wall Street overnight. Sentiment was boosted by hopes European leaders will agree on a second bail-out package for Greece, while a disappointing flash read on China's manufacturing sector limited gains as markets around the Asian region fell. The All Ordinaries Index (XAO) rose 7.8pts or 0.2pct to 4626.2 while the S&P/ASX 200 ...

Midday-Lunchtime REPORT (12.15pm AEST)Local stocks are managing to hold onto yesterday's impressive gains despite small losses on Wall Street overnight. Investor sentiment has been boosted by hopes Eurozone members will agree to a second bail-out deal for Greece when they meet in Brussels later tonight. The All Ordinaries Index (XAO) is up 23.8pts or 0.5pct to 4642.

AFTERNOON REPORT (4.30pm AEST) An estimated $23 billion in value was added to the local share market today. Stocks rallied on hopes Washington would reach an agreement to raise the US debt ceiling before the August second deadline. A debt ceiling is the name given to the maximum borrowing power of a government, and overnight US President Obama expressed optimism that a deal to raise that borrowing power would soon be reached. Strong company earnings results released in the US overnight also b...

Qantas Airways wants to corner the high end of the Asian market as it moves more aggressively in the region in the near term.

MIDDAY REPORT (12pm AEST)The Australian share market is posting solid gains in early trade, on the back of positive offshore leads and generally firmer commodity prices. At lunchtime in the East, the All Ordinaries Index (XAO) is firmer by 74.5pts or 1.6pct to 4613.9.

AFTERNOON REPORT (4.30pm AEST)The local share market once again finished flat, with the All Ordinaries Index (XAO) virtually unchanged at 4539.4. The S&P/ASX 200 Index (XJO) closed down 3.9pts to 4468.1.

MIDDAY REPORT (12.15pm AEST)Australian shares are trading flat at lunchtime in the East, as gains from energy players are offset by losses from the financials. The All Ordinaries Index (XAO) is down 0.7 of a point to 4539.2pts. Energy players are faring best, with the sector firmer by 0.8pct. Woodside Petroleum (WPL) shares are up 1.7pct to $38.90 after reporting a 17pct rise in 2Q 2011 revenue to $1.19 billion. Production for the same period fell 7pct.

AFTERNOON REPORT (4.30pm AEST)Local stocks tracked sideways today, with losses in the energy and consumer discretionary sectors holding the overall market back. The All Ordinaries Index (XAO) fell 2.8pts to 4539 while the S&P/ASX 200 Index (XJO) eased by 1.5pts to 4472.Merger and acquisition activity was the order of the day. Before market open, two takeover bids were announced - one in the energy sector and another in the materials sector.

Across Asia, regional markets have started the week in a mixed fashion despite the positive leads from the US on Friday. Traders continue to be very cautious ahead of what's likely to be another volatile week as debt problems in the US and Europe continues to hang over the market. The Hang Seng is 0.2% firmer for the session while the Shanghai Composite is 0.1% lower. The Nikkei 225 is closed for a holiday.

Australia's New South Wales and Queensland could make a comeback in the second half if benchmark rates remain at their current levels, the June report of CommSec State of States said on Monday.

MIDDAY REPORT (12.35pm AEST)The local share market has defied Wall Street's positive Friday finish and started the trading week slightly lower. At lunchtime in the East, the All Ordinaries Index (XAO) is down 8.6pts or 0.2pct to 4534.1.Energy players are under the most pressure, despite a rise in the crude oil price. Oil is hovering around US$97.57 a barrel, thanks to a firmer US dollar and generally favourable stress tests results on European banks.

The combination of a high-taxing Government, falling consumer confidence, internet competition and lack of interest from wealthy shoppers has created what David Jones' chief executive, Paul Zahra called the retail perfect storm and resulted in a 20 percent loss for the high-end store.

AFTERNOON REPORT (4.30pm AEST)Debt concerns in the US and Europe once again rattled local investors, with the Australian share market ending the trading week in the red. Ratings agency Standard & Poor´s today warned there is a one-in-two chance it could cut the United States´ prized triple-A rating if a deal on raising the government´s debt ceiling is not agreed soon. The deadline for the agreement is August 2nd. The All Ordinaries Index (XAO) fell 18.6pts or 0.4pct to 4542.7 while the S&P/A...

Change and changing mindsets, no matter at what stage are loathed at, but at times circumstances just points to the inevitable. This is how the staunch supporters of the carbon tax in Australia perceive their advocacy in the days to come.

MIDDAY REPORT (12pm AEST)Australian stocks have started the last trading day of the week in the red, on continued investor concern about US and European economic woes. Ratings agency Standard & Poor´s has this morning warned there is a one-in-two chance it could cut the United States´ prized triple-A rating if a deal on raising the government´s debt ceiling is not agreed soon. The deadline for the agreement is August 2nd. At lunchtime in the East, the All Ordinaries Index (XAO) is down 15.2...

In spite the lowered residential property prices, affordability is still a major concern among residents in Australia, the National Australia Bank's latest survey indicated.

MARKET CLOSE-- (4.30pm AEST)The Australian sharemarket was lower in the first half of the day; however our fortunes changed for the better following solid economic numbers out of China today. The ASX 200 index (XJO) rose 0.40 pct or 19.4 pts to 4514.8 while the broader All Ordinaries index (XAO) gained 0.40 pct or 19.7 pts to 4583.2.

MIDDAY REPORT -CommSec (12.00pm AEST)After a stronger start to trade today, the Australian sharemarket has crept into negative territory with the All Ordinaries index (XAO) down 0.1 pct or 6.7 pts to 4556.8. Most sectors are lower with the exception of the industrials, telcos and healthcare stocks.

Consumer sentiment in Australia has plummeted to its lowest level in over two years, dragged down by European debt concerns and worries about the introduction of the price on carbon.

MARKET CLOSE--Commonwealth Securities (4.30pm AEST)The Australian sharemarket extended its falls in the second half of trade today, with the ASX 200 index (XJO) down 1.9 pct or 86.9 pts to 4495.4 while the broader All Ordinaries index (XAO) slumped by 1.8 pct or 83.3 pts to 4563.5. Almost all regions of the market ended lower with the exception of the coal producers.

MIDDAY REPORT-Commonwealth Securities (CommSec) (12.00pm AEST)The Australian sharemarket is pulling back for the second straight day, with the All Ordinaries index (XAO) down 1.4 pct or 65.5 pts to 4581.3. Almost all sectors are currently trading in the red with the miners down in the order of 1.5 pct.

Beleaguered and undaunted, Australia's Prime Minister Julia Gillard had begun her final push for the carbon tax deemed necessary for the environment but would be costly for the domestic economy. There is no turning back for Ms Gillard determined to put a carbon emissions scheme in place no matter what the odds.

DrinkWise Australia, a liquor industry funded organization will officially launch today a campaign that will introduce warning labels on alcoholic beverages about the dangers of drinking excessively and drinking while pregnant or underage.

MARKET CLOSE-CommSec (4.30pm AEST)It was a less than desirable start to the week for equities, with the ASX 200 index (XJO) falling 1.6 pct or 72.4 pts to 4582.3 while the broader All Ordinaries index (XAO) has dropped 1.5 pct or 69.2 pts to 4646.8. Almost all market segments ended in lower territory by the close of business.

Australia's crop growing industry can take advantage of the weather and other climate conditions with the new online tool from the Grains Research and Development Corporation (GRDC).

COMMSEC MORNING REPORT (7am AEST)US same store sales rose by 6.5pct in June - well ahead of expectations for a 4.9pct rise. Of the 23 chain stores tracked by Thomson Reuters all but four of the chains reported an increase. The ICSC expects sales to rise by 4.5-5.5pct in July.

MARKET CLOSE - CommSec Report (4.30pm AEST)The Australian sharemarket has managed to end higher by the most modest of margins for the third time this week despite being around 0.4 pct lower at one point this morning.