MARKETS

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.

The weak US dollar will continue to fuel the higher prices of commodities considered as the next safest forms of investment.

The Australian share market has soared to a six month high in early trade, following a strong lead from Wall Street which led to the Australian dollar breaching parity against the greenback.

US dollar selling is once again the name of the game following the overnight announcement from the US Federal Reserve of their intentions to pump more money into the US economy.

U.S. stocks bounced in and out of positive territory but are now rising, while the dollar and the 10 year Treasury plunged, after the Federal Reserve said it would buy $600 billion in longer-term securities by the middle of next year as part of its latest effort to prime the domestic economy.

The long-awaited and much-discussed stimulus measures in the US have been announced which has sent the Australian Dollar soaring above par with the greenback to 1.0045 at time of writing.

The US Federal Reserve has unveiled greater purchases of securities in order to inject fresh stimulus into the economy: ´´The Committee will maintain its existing policy of reinvesting principal payments from its securities holdings.

The Australian dollar has hit again the high note against the US currency as a result of the U.S. Federal Reserve's decision to pour more money into the American economy in the coming months.

The Australian share market hit a six month high to close stronger on Wednesday as investors remained optimistic about economic data from offshore due overnight.

The local share market was well supported today, ahead of an expected injection of stimulus by the US Federal Reserve.

Mining firm Xstrata Plc has increased its offer price for iron ore developer Perth-based Sphere Minerals Ltd (SPH.AU) to $3 a share and declared the offer best and estimated at $514 million.

Local stocks are trading in positive territory at lunchtime, as investors digest an impressive cash profit from one of our big banks and await an expected cash stimulus from the US Federal Reserve.

The Westfield Group has announced that a retail trust would separately be created and listed to raise A$3.5 billion in capital.

Westpac Banking Corp.'s second-half earnings hit a high of $3.47 billion ($3.47 billion) in the six months ending Sept. 30, as against the $1.27 billion a year earlier.

The Australian Dollar reached a post float 28- year high overnight, pushing above parity with the US dollar for the second time in a month.

The Australian Dollar hit parity against the greenback overnight surging briefly to a high around the 1.0020 area.

U.S. stocks rose broadly Tuesday as investors awaited the results of U.S. midterm elections seen ushering in more Republicans and a two day Federal Reserve meeting expected to yield more economic stimulus.

The US residential rental vacancy rate eased from 10.6pct to 10.3pct in the September quarter.

Stronger bank stocks led the Australian share market higher after the central bank defied expectations by lifting interest rates.