MARKETS

Sovereign risk concerns in Europe continue to occupy the minds of traders and the associated risk aversion is likely to keep a lid on the Aussie around the US99 cent mark.

The Chicago Fed National Activity Index fell from -0.25 to -0.46 in November.

The Australian share market finished the day weaker after sagging bank stocks outweighed gains to the energy sector.

Local stocks ended in the red today, as a tumble on the Chinese share market saw investors bail out of banking and mining stocks.

Monday sees a stronger Australian bond market as it tracked Friday night’s rebound of the US Treasuries.

After trailing the US Treasury market on its overnight rebound, the Australian bond market ended stronger on Friday’s closing.

Local stocks are trading moderately higher at lunchtime in the East, thanks to strong support from mining and energy stocks.

The Australian dollar has opened this morning firmly in the mid 0.9800’s after a pretty lacklustre evening of trading.

U.S. blue chip stocks closed slightly lower Friday as regulatory worries weighed on drug makers, but the losses were muted in the face of positive profit reports from technology companies.

The continued recent resurgence of the greenback is capping any gains on the Aussie around the US99 cent area and we open today at 0.9870.

US Conference Board´s leading economic indicator rose 1.1pct in November - the biggest rise since March and the fifth straight monthly gain.

Local stocks were unable to sustain the recent rally during today’s session, and ended the final trading day of the week in the red.

The Australian share market closed lower after big market contributors in the resources and banking sector ended weaker.

The Australian bonds opened stronger after overnight rebound of the US Treasury market.

Local stocks are trading flat at lunchtime in the East, following six days of gains.

Hastings Funds Management Ltd, as responsible entity for the managed investment schemes comprising the Hastings Diversified Utilities Fund (HDF), today announced the execution of a binding agreement to sell its interests in South East Water (SEW) to global asset manager CDPQ.

The Australian dollar has opened slightly higher this morning, regaining ground lost late in the offshore session.

Consumer inflation expectations declined to a 4 month low, capping the Australian Dollar at 0.9875 US Dollars during the morning session.

US jobless claims fell by 3,000 to 420,000 in the past week. The four week moving average of claims - considered to be a better measure of labour market trends - fell for the sixth straight week to a two-year low.

U.S. stocks rose Thursday, following generally upbeat economic data and as global bellwether FedEx delivered an optimistic full year forecast.

The Australian share market firmed 0.3 per cent by the market close after treading water during a trading session dominated by lacklustre offshore leads and exceptionally light volumes.

Local stocks managed to make it six wins in a row today, as investors shrugged off a weak offshore lead and focused on positive economic data.

HedgeFund.Net study shows that the funds-of-hedge funds estimated total assets of $920 billion on the third quarter represents 4 per cent increase during the year.

Fueled by the inflow of capital from investors who now appear to have more appetite for riskier assets, Hedge Fund Research, Inc. (HFR) Wednesday reported an increase in the number of hedge fund launches for the third quarter.

Local stocks are attempting to make it six wins in a row, despite a weak lead from offshore markets.

The Australian dollar fell back through USD0.9900 overnight on renewed concern over European sovereign debt.

Australian consumer are more upbeat leading into the holiday season with consumer confidence improving for December growing 0.2% from -5.3% last month.

U.S. stocks fell slightly Wednesday, despite improving U.S. economic data, as investors continued to worry about euro-zone finances.

US industrial output rose 0.4pct in November - marking its biggest gain since July and ahead of expectations.