POLITICS & POLICY

U.S. stocks surged and the Dow Jones Industrial Average pushed toward what would be its largest monthly percentage gain in a quarter century, as investors cheered an agreement reached by European leaders on a plan to resolve the euro zone's debt crisis.

MORNING REPORT (7am AEDT)The US economy grew at a 2.5pct annual rate in the September quarter, in line with expectations, and up from the 1.3pct annual rate in the June quarter. Pending home sales fell 4.6pct in September, well below market forecasts. And new US claims for unemployment insurance fell by 2,000 to 402,000 in the latest week. Continued claims fell to fresh 3-year lows.

Her royal highness, Queen Elizabeth, and her husband, Prince Philip arrived in Australia last Wednesday at the Australian air force base, as reported by the Associated Press.

Today was one of the more unpredictable days of trade for the Australian sharemarket, with the ASX 200 index (XJO) rising 2.5 pct or 105.7 pts to 4348.2 while the broader All Ordinaries index (XAO) ended 2.4 pct or 103.1 pts higher to 4403.9.

The Australian sharemarket has finally re-opened after a technical glitch crippled markets for a number of hours. At 2pm (AEDT) shares came back online and started rallying almost immediately. The All Ordinaries index (XAO), which is one of the most popular ways to measure Australian market performance is up 1.7 pct or 71.6 pts to 4372.4.

Global diversified miner Anglo American Plc said on Thursday it is mulling to spend up to $US15 billion ($14.43bn) over the next eight years to expand its Australian coal operations.

Speculations are abuzz that Australia's coal market is nearing its zenith, what with the latest intent of Australian coal miner New Hope Corp. wanting to be bought out in the tune of $5 billion.

Australian air travelers will have one less headache as the holidays approach with the solution to the customs officials' strike in sight. The Commonwealth Public Sector Union (CPSU) tentatively agreed on Thursday to accept an offer from the federal government of 11 per cent salary hike spread over three years.

Australia, a country largely recognized as the world's biggest coal exporter by volume and a major contributor to the rise of developing economies, has been found also a major contributor to the global environment's rapid deterioration.

It certainly has been a strange session so far, with the Australian sharemarket remaining closed due to a technical glitch. A few big names such as BHP Billiton (BHP), ANZ Banking Group (ANZ) and the Commonwealth Bank of Australia (CBA) seemingly kicked off trade normally for a few minutes this morning until a number of other businesses were opening in the wrong order.

Queen Elizabeth II reveled in the crowd of people who came to see her wherever she went on her tour of Australia this month. Thousands upon thousands of Queenslanders came to see Her Majesty speak and comfort those whose homes were ravaged by the terrible floods last January.

Queensland has attracted a record worth of $1.126 billion in resource exploration investment for Australia, Mining Minister Stirling Hinchliffe announced in a major mining conference in Brisbane Wednesday.

Mining billionaire Gina Rinehart predicted continuous growth for Australia's booming mining industry despite threats from red tape, taxes and labour shortages.

Thursday's trading session at the Australian Securities Exchange floor has been closed indefinitely because of a technical glitch.

The decision of China to work with Europe and purchase Euro bonds from countries affected by the sovereign debt crisis within its capability is part of its foreign aid policy which is to provide foreign aid without imposing any political stipulations.

Private Indian firms are reportedly looking into buying opportunities in Australia's natural resources sector.

Queen Elizabeth has arrived in Perth for the Commonwealth leaders' meeting on Friday. Premier Colin Barnett and his wife Lyn, as well as Defence Minister Stephen Smith, welcomed the monarch on tarmac, while a crowd of hundreds, including children, cheered for the Queen when she deplaned with Prince Phillip.

Robust growth in mortgage loans has spurred a 20 per cent hike in cash earnings for the full year to $5.5 billion for the National Australia Bank Ltd., the nation's best-performing banking stock this year.

With a conclusion to the European crisis in sight, it seems there is little in the way of the bulls now.We are calling an open of 4270 (+0.7%) for the Aussie market this morning. Traders will be encouraged by the agreement to recapitalise the banks, news that China is looking to invest in the rescue fund and the positive economic data out of the US. Yesterday's CPI numbers will keep investors optimistic about a rate cut by the RBA next week.

Blue-chip stocks pushed back toward the day's highs as investors grew hopeful that European leaders' commitment to preventing a banking crisis and Chinese purchases of euro-zone debt could help resolve the region's debt woes. The Dow Jones Industrial Average rose 130 points, or 1.1%, to 11837 in recent trading.

MORNING REPORT (7am AEDT)European leaders plan to leverage up the bailout fund (EFSF) ´´several fold´´ to a mooted 1 trillion euros with finance ministers to decide details in November. The EFSF will have the flexibility to deploy two models - risk insurance and special purpose vehicle - simultaneously. Italy has promised to deliver an economic development plan by November 15.

The capital city of Thailand along with 20 provinces has been overcome by what could be the most terrible flooding in Thailand’s history.

Market watchers around the globe are anxiously awaiting a key meeting of European leaders in Brussels tonight, with hopes the European Union summit will be able to come up with a clear and definitive solution to the region's debt crisis. US and European markets tumbled overnight with investors nervous about the outcome, but locally we were spared the sell-off, despite an initial dip at open. Sentiment was instead boosted by benign inflation numbers, which have boosted the chance of a rate cut...

Prince William and Kate Middleton are big “Take That” fans. Will they be present in Gary Barlow’s charity concert on December?

A new book has claimed US President Barack Obama’s actions to reduce nuclear weapons threats have not been commensurate with his rhetoric.

With knee-deep floodwaters enveloping Bangkok, high tides from the sea are pushing the Chao Phraya River's level in the central city to as high as 2.6 metres above mean sea level, above a 2.5-metre concrete floodwall, the chief of the Thail Navy's Hydrographic Department said Wednesday.

If it was his decision, Barry O'Farrell would allow the coalition a conscience on the issue of same-sex marriage, the NSW Premier confirmed on Wednesday.

The Uniform Crime Report Subcommittee of the FBI's Criminal Justice Information Services voted on Oct. 18 to expand its definition of rape, reported Ms. Oct. 19.

Broadband will bring a new boom to the bush, with High-Definition Telepresence set to revolutionise services in regional and rural Australia, according to an independent expert.