MARKETS

By Rudi Filapek-VandyckGreece is burning (sort off) and the Federal Reserve doesn't really know what's happening inside the US economy, but here at FNArena, the least we can do is inform investors about what is happening underneath the facade of every day moving share prices.

FNArena has added another video to its Investors Education section on the website. This latest ATW broadcast was compiled ahead of the FOMC meeting but still offers technical insights into support zones, consolidation patterns and potential break-outs.

U.S. stocks dropped Friday, finishing the week slightly lower, as worries about Italian banks, Greece's austerity measures and disappointing technology earnings overshadowed a bigger-than-expected rebound in durable goods data.

Commonwealth Bank has swept the board in MPA's ninth annual Brokers on Banks survey.

It's the end of the Australian financial year this week, as well as the end of the month, quarter and end of the June half year here and offshore.

So was the solid week in Asia a one-off bounce, or a sign that investors have figured out that the region is once again a 'safe haven' while Europe and the US struggle with their respective crises?

A day of confusion in trading in bank shares on the Italian stockmarket on Friday has raised concerns that the euro crisis is taking a new direction.

The Australian share market rose slightly in mixed trading before the weekend, with gains in financials, consumer staples and materials offsetting falls in telco, utilities, industrials and energy stocks.

US durable goods orders rose by 1.9pct in May, above forecasts centred on a 1.5pct gain. The US economy grew at a 1.9pct annual pace in the March quarter, above the previous estimate of 1.8pct.

France will use talks with other G20 nations to argue for tougher rules on global food commodities trading, as surging prices pose a risk to businesses and consumers.

Telstra, Optus and the federal government have done the long awaited deals to get the NBN going.

The Australian sharemarket gained for the third time in 5 sessions, with the ASX 200 index (XJO) up 0.2 pct or 7.6 pts to 4508.1 while the broader All Ordinaries index (XAO) rose 0.1 pct or 3.6 pts to 4565.

- Rio Tinto entry reduces risks surrounding Searipple accommodation village- Fleetwood also looking to expand recreational vehicle production- Earnings profile flat through FY12, yield attractive- Stockbroker Moelis retains a Hold ratingBy Chris ShawManaged accommodation has been an important part o...

By Greg PeelThe Dow closed down 59 points or 0.5% while the S&P came back to 0.3% down at 1283 and the Nasdaq managed to close up 0.

- Fund managers more uncertain about market outlook- Defensive assets favoured over growth assets- Managers still relatively bullish on Australian equities- Australian dollar expected to fall in coming yearsBy Chris ShawGlobal equity markets weakened in the June quarter, Russell Investments attribut...

The Australian stock market is seen receiving a little shove from the negative leads over volatile overnight sessions in the US and European stock markets. The ASX is seen performing modestly on Friday.

U.S. stocks were mostly lower Thursday in volatile trading, as a toxic mix of weak economic data and a surprise oil-market intervention competed for investors' attention with reports of a new Greek austerity plan.

The Australian share market closed weaker, in line with a global sell-off following a downbeat assessment of US growth by Federal Reserve chairman Ben Bernanke.

US new home sales fell 2.1pct to a seasonally adjusted annual rate of 319,000 in May.

The arguing, or rather debating, over the value of Foster's is now underway in the wake of the $4.90 a share offer from SABMiller.

The Aussie moved right back to the top of the trading range at 1.0640 overnight before the sellers came back into the market sending the pair back to support at 1.0500. From here, traders will be looking to ride the move back to 1.0640, with the expectation that the trading range will remain in place until we see a clear break in either direction.

Perseus Mining Limited (ASX/TSX: PRU) has drawn down US$85M under a Project Finance Facility for the completion of the company's Company's Central Ashanti Gold Project ("CAGP") in Ghana, Africa.

U.S. stocks snapped a four-day winning streak, stumbling in late trading after the Federal Reserve issued a cautious economic outlook just days before it ends its asset-buying program.

- SABMIller makes initial approach to Foster's- Brokers expect the offer will need to be increased- Ratings and targets unchanged given uncertain situationBy Chris ShawAfter spinning off its wine assets Foster's Group ((FGL)) has only been a separate entity for a short time, but global bre...

The Australian dollar may be set for a test of USD1.05000 in the short term following indications from Federal Reserve Chairman Bernanke overnight that we are unlikely to see another round of quantitative easing from the Fed.

The Australian share market closed higher on Wednesday on investor optimism that debt-burdened Greece will access more bailout money and avoid generating more financial turmoil.

The Federal Reserve cut its forecast for US economic growth, following the FOMC meeting. The Fed downgraded 2011 growth from the range of 3.1-3.3pct to 2.7-2.9pct.

SABMiller and its local mate, Coca Cola Amatil are dreaming if they think they can get Foster's for the current cheap 8.2% premium in the $4.90 a share offer, which bobbed up yesterday.

The Australian sharemarket is gaining for the second straight day with the All Ordinaries index (XAO) up 0.7 pct or 33.5 pts to 4598.7. Almost all sectors are higher however mining stocks are the best improvers at lunch.