MARKETS

Volatility continues across currency markets and the Aussie is caught up in the maelstrom with a US2-cent range over the last 24 hours and a low just beneath parity.

US wholesale inventories rose by 1.5pct in September ahead of expectations for a 0.7pct rise.

The Australian sharemarket has pulled back for the second day this week with the energy sector by far the market's biggest drag.

Australian stocks are giving back a little today, after profit takers moved in on Wall Street overnight, sending the Dow Jones Index off two year highs.

The AUD has opened relatively unchanged this morning after a fairly non-eventful night.

U.S. stocks slipped Monday as returning concerns over European sovereign debt added to worries about the effects of the Federal Reserve's recent actions.

A brief US Dollar rally saw the Aussie lose ground during onshore trade yesterday with a minor increase in October Job Advertisements failing to provide any support.

Russia has echoed China's comments ahead of the G20 summit, saying the US should consult other countries before pumping cash into its economy.

The Australian sharemarket mirrored the U.S markets today after finishing relatively unchanged for the first day of the week. The All Ordinaries Index (XAO) closed down by 0.4pct or 17.6pts to 4855.3.

The Australian share market has lost ground as investors cashed in on recent gains in the resources, financial and property sectors.

Equinox Minerals Ltd., the Australian copper producer has turned in some $71.2 million profits in the third quarter as production at its Lumwana mine in Zambia increased.

The latest KPMG Fraud and Misconduct Survey has revealed Australian and NZ finance companies are more vulnerable to lending fraud and bogus insurance claims for the last two years.

Australian coal hauler and transporter QR National Ltd. has received keen interest from foreign investment managers for its $5 billion dollar initial public offering (IPO) before its formal offering on November 22

Australian stocks are flat in early trade, but significantly managing to hold on to six month highs reached during Friday's trade.

The AUD remains very firm this morning after touching another post float high of 1.0175 on Friday night, as the US non-farm payrolls in October rose 151k, as compared to predictions of 60k.

U.S. stocks rose slightly Friday, extending their climb to fresh two year highs as investors were encouraged by a report of stronger than expected job growth for October.

The Australian Dollar reached highs near 1.0180 on Friday however almost a cent was wiped from the currency pair as the recent risk rally lost steam during Friday's European session.

US payrolls rose by 151,000 in October, well ahead of expectations for jobs growth of 60,000.

After receiving a very positive lead from Wall Street overnight, our market maintained its early rally to close 1.1pct or 55.4pts stronger to 4872.9.

The Australian share market climbed over one per cent to a seven month high as investors snapped up resources stocks amid higher metals prices and a greater appetite for riskier assets.

The Australian sharemarket is rallying strongly today, completely wiping out yesterday's slight falls.

Foreign banking institutions in Australia are eager to take advantage of a more competitive environment in the country's financial sector that the Federal government is considering to implement.

The AUD has opened higher this morning, touching a fresh post float high early.

U.S. stocks rallied to their highest level since their September 2008 plunge during the bankruptcy of Lehman Brothers as investors applauded the Federal Reserve's latest effort to stimulate the struggling economy.

The Australian Dollar managed to hang onto its gains above parity yesterday despite softer-than-expected retail sales data. Australian retail sales rose just 0.3 per cent in September reducing expectations as to the pace of rate hikes in 2011.

US jobless claims rose by a larger than expected 20,000 to a seasonally adjusted 457,000 in the last week.

A Qantas A380 plane has been forced to fly back to Singapore's Changi Airport after pilots found one of its engines malfunctioning and were forced to shut down.

The Australian share market closed at its highest level since late April as traders reacted positively to the potential blocking of BHP Billiton's $40 billion Canadian fertiliser bid.

Australian stocks ended at a fresh six month closing high today, as the US stimulus package boosted investor sentiment around the region. Qantas (QAN) shares were also in focus after one of the airline's A380 planes suffered a mid-air emergency before landing safely in Singapore.