MARKETS

The AUD has started the week in the mid 0.9800's as the USD weakened on Friday night after the release of the Q3 GDP figure of 2%, which was in line with expectations.

U.S. blue chip stocks edged higher Friday while the Standard & Poor's 500 index fell slightly in a quiet end to a strong October as investors bided their time before the coming week's Federal Reserve meeting and midterm elections.

The US economy grew at a 2.0pct annual pace in the September quarter, in line with market expectations. Encouragingly consumer spending grew at a 2.6pct annual pace.

The Australian share market closed lower on Friday as a slew of upcoming offshore events led to renewed caution among investors.

The Australia Pacific LNG consortium of companies has advised relevant landholders, the Queensland Government, Western Downs Regional Council and Maranoa Regional Council of the results of chemical analysis of samples taken from water bores on properties where exploration wells that have recently been hydraulically fracture stimulated in the Surat Basin, west of Miles.

The Australian share market is trading slightly lower after a mixed session in Wall Street.

Australia's largest investment bank, Macquarie Group Ltd. will pursue further expansion in spite higher staff costs that slashed down first-half profits generated from its core equities trading and commodities businesses.

The AUD appears to have recovered fromthe steep sell off it suffered after the release of the weaker than expected CPI data earlier in the week.

U.S. stocks fell Thursday despite a large drop in weekly jobless claims as investors moved cautiously before the Federal Reserve's key meeting next week.

During Thursday''s local session the Aussie recovered from a three-week low beneath US97 cents but was still feeling the effects of the relatively benign inflation data released mid-week.

US jobless claims fell by 21,000 to 434,000 - a three month low.

The Australian share market has ended the day firmly higher with another strong result from one of the major banks and resurgent miners helping to buoy the market.

The Australian sharemarket pulled back slightly throughout the afternoon however still finished stronger for the second time this week.

The New Zealand dollar bounced from lows on Thursday, benefiting from a broadly softer greenback and after a widely expected decision by the Reserve Bank of NZ to hold rates unchanged and keep a tightening bias.

Australian investment bank Macquarie Group Ltd. is now under pressure to slash down its workforce to cope with the lower trading and merger fees.

The Australian sharemarket is currently gaining for only the second time this week with the All Ordinaries index (XAO) up 42.3pts or 0.9pct to 4762.8. All sectors are in the black with the financial sector leading the way.

Australia & New Zealand Banking Group Ltd. has reported that profits soared to 69 percent as a number of its nonperforming loans dropped significantly.

The AUD has opened weaker this morning continuing on from yesterdays sell off following the release of the CPI data.

A smaller than anticipated rise in the consumer price index took the Aussie from an intraday high of 0.9860 down to 0.9720 in very quick fashion as traders lowered their expectations for an interest rate rise when the Reserve Bank meets next week.

U.S. stocks pared their losses in late trading Wednesday as investors recalibrated their expectations for a major bout of easing by the Federal Reserve to stimulate the economy.

Local stocks and the Aussie Dollar fell and shorter dated bonds rallied today.

The Australian stock market slumped on Wednesday as the heat fell out of resources and the major banks retreated from early gains.

Uranium producer Paladin Energy Ltd has issued an estimated $A304-million worth of convertible bonds to re-pay maturing debt obligations and expand its mining areas in the country and in Africa.

The Australian share market is trading flat today, as gains from the banks are offset by losses from mining stocks. The All Ordinaries Index (XAO) is up 2.8pts at lunchtime in the East to 4764.3.

A chronic shortage in available rental properties is now a permanent fact of life in New South Wales three major metropolitan centres, the Real Estate Institute of NSW (REINSW) says.

The Australian Dollar has opened slightly lower this morning after trading comfortably over USD 0.9900 yesterday.

National Australia Bank has reported a 63 percent jump in net profits to $4.22 billion, due to lower charges slapped on its nonperforming loans.

U.S. stocks meandered between positive and negative territory as a mixed bag of corporate earnings and economic data left investors without clear signs on whether the market's recent rally can be justified.

US consumer confidence rose from 48.6 to 50.2 in October, above forecasts centred on a result near 49.2.