MARKETS

Australian stocks tracked sideways today, but the flat finish was a fairly impressive outcome given weaker than expected economic growth figures and a downbeat offshore lead.

Local stocks have fallen into the red at lunchtime in the East, following disappointing economic growth numbers.

U.S. stocks wavered between small gains and losses Tuesday as investors tried to reconcile continued worries over the European sovereign debt crisis with encouraging data on U.S. manufacturing and consumer confidence.

The AUD has opened lower this morning as investors move out of risk for safe haven assets such as the USD.

The Australian dollar is struggling to hold its own above 96 cents of late as economic headlines are dominated by risk.

US consumer confidence rose from 49.9 to 54.1 in November - ahead of market expectations and its highest reading in five months. The expectations index also rose to a six month high.

The Australian share market slid on Europe's sovereign debt woes and lower commodity prices, with the energy sector one of the few bright spots.

Local stocks have followed global markets into the red today, on worries Europe's debt crisis could worsen.

With a lack of price sensitive information released during the offshore session last night, the AUD has weakened as lingering fears of debt contagion in Europe saw risk aversion trading come into play and investors reduce their holdings in the riskier AUD.

In recent risk-off trade the Australian Dollar has been one of the hardest hit, giving up some vital ground in the past 24 hours.

U.S. stocks recovered about half of their Monday losses in late-afternoon trade, bringing the Dow Jones Industrial Average back above 11,000, with financials faring the best

The Chicago Midwest manufacturing index rose from 80.3 to 80.9 in October.

The Australian share market reversed its early losses to close higher, buoyed by healthcare, energy and bank stocks.

Australian stocks managed to reverse a weak start and close in positive territory for the first trading day of the week

Local stocks have started the trading week in the red, as investors look backwards to falls experienced on Friday night in the US and Europe.

The Australian Dollar has recovered from the short term wobbles on Friday evening when it fell to just above of 0.9600 on thin post-Thanksgiving US trading and concerns on the financial situation in Ireland.

Australia was confronted with an unusually dovish Glenn Stevens on Friday, as the RBA's Governor testified before the House of Representatives Standing Committee on Economics.

U.S. stocks fell, spending Black Friday in the red as growing worries over the euro zone debt crisis overshadowed an encouraging start to the holiday shopping season.

European Union finance ministers have approved an 85 billion euro bailout for Ireland. Portugal approved its austerity 2011 budget on Friday causing the Portuguese/German 10-year bond spread to ease.

The Australian share market closed marginally higher on thin trading volumes in the absence of a lead from Wall Street due to the Thanksgiving Day holiday.

US markets were closed overnight for the Thanksgiving Day holiday.

The devastating mine accidents in the recent months have prompted Rio Tinto (ASX:RIO) to further pursue new innovative means of safety for its miners. Australia's Rio Tinto will be investing some C$10 million for research to create a Centre for Underground Mine Construction.

The AUD has opened slightly higher this morning, despite thin trading conditions with the Thanksgiving holiday in the US overnight.

The Aussie opens around the US98 cent mark today after yet another volatile 24 hours.

The main European equity markets advanced Thursday as a strong finish on Wall Street offset worries about sovereign debt in peripheral euro-zone countries.

The European Commission and German Government have denied a news report that European officials were considering doubling the size of a rescue fund to support the Euro.

The Australian stock market posted moderate gains on Thursday, amid sluggish trading conditions ahead of a public holiday in the US.

Australian stocks have kicked off today's trading with a rally after the negative start yesterday, as concerns over the Korean skirmish and the Irish bailout package subsided.

Renewed demand for growth related assets pushed the AUD higher overnight.