Christine Gaylican

They want the auction to be as peaceful and as successful as possible. Hollywood's Julien's Catalogue.com would not want to brandish the name of the former owner of the antique pieces of furniture and other art works from a mansion in Holmby Hills Estate.

From Craig James, Commsec Chief EconomistMORNING REPORT (6am AEDT) The US leading index rose by 0.9pct in October, well above the consensus estimate of an increase of 0.6pct. Industry orders in Italy fell by 8.3pct in September after rising by 4.2pct in August and rising 1.2pct in July. German producer prices rose 0.2pct in October while the core rate fell 0.2pct - both weaker than expected.

From Bell FX Currency Outlook: The AUD has opened little changed from Friday around the 1.0000 level, with financial markets subdued and attention more focused on politics in Europe and America.

Multi commodity explorer and miner Alkane Resources is edging closer toward development approval for its Tomingley Gold Project.

The Australia Statistics Bureau showed that during the period 2000 to 2011, renting outpaced home ownership in the country.

Determined to attract more investment and tourism to Sri Lanka, the country would ease its foreign ownership restrictions on land ownership.

The AUD continued to drift lower overnight trading below 1.0000 as European debt issues continue to weigh on markets.

Global markets slid overnight, on the back of a deepening European debt crisis. Borrowing costs in Europe continued to rise, keeping investors at bay and causing heightened risk aversion. A euro-area official was reported as saying there are no plans for aid for Italy from the EFSF, and the Super Committee talks in the US have reportedly stalled with less than a week until the deadline to propose a plan to cut the deficit. Everything just seems to be going wrong at the same time.

From Craig James, Commsec Chief EconomistMORNING REPORT - (8am AEDT) US Philadelphia Fed factory activity fell from 8.7 to 3.6 in November. The result was below economist expectations of a result around 8.0. On a positive note the more forward looking indicator of business conditions six-months from now rose sharply from 27.2 to 41.9 - the highest reading in almost 7 years.

Rio Tinto Alcan intends to close the Lynemouth aluminium smelter, subject to the completion of a 90-day consultation process with employee and union representatives. The company is also in exclusive discussions regarding the potential sale of the power station at the site.

Commodity explorer and miner, Alkane Resources (ASX: ALK), has upgraded its resource of zirconia and rare earths at Dubbo in the central west of NSW.

Bell FX Currency Outlook: The Australian dollar looks at risk of heading back down through the parity level in the short term.

From IG Markets: Global markets were weaker overnight in a choppy session which saw headline risk prevail. US markets had pared losses on the back of comments from Boston Fed President, Eric Rosengren, which suggested that we may see coordinated action by the Fed and the ECB to help solve Europe's problems. However, US markets stalled their recovery into the close after Moody's downgraded the senior debt and deposit ratings of 10 German banks, and reports that the Super Committee talks h...

From Craig James, Commsec Chief EconomistMORNING REPORT (8am AEDT)US industrial production rose by 0.7pct in October, well above forecasts centred on a gain of 0.4pct. US consumer prices fell by 0.1pct with core prices (excludes food and energy) up 0.1pct. Both results were broadly in line with forecasts.

China and South Korea's planned investment in offshore wind farms amounting close to $25 billion in the near term could also impact on the rare earths production.

Former IMF chief Dominique Strauss-Kahn is again back in the headlines after figuring in another legal battle. This time against the French media, which Strauss-Kahn said through his lawyers had been very "intrusive" of his and his wife's privacy.

Bell FX Currency Outlook:The AUD has opened lower this morning, currently trading around USD1.0200, as investors caution over the European crisis continued during the offshore session.

The pressure to use low-carbon technologies less damaging to the environment is hitting hard on industries using rare earths in the European Union.

Residents in Thailand's Don Mueang district have defied the orders of authorities when they destroyed flood barriers made of sand bags to create a way for boats and access the flooded 20 housing estates.

China has announced it would cut down its export quotas of special metals in 2012, which could push world prices higher.

Bell FX Currency Outlook: The Australian dollar has opened this morning over 1.0300 as new leaders took control in Greece and Italy and the financial markets breathed a sigh of relief.

U.S. stocks soared Friday, capping a volatile week, as signs of stabilization in Europe and better-than-expected consumer-sentiment data fueled a second straight day of big gains. The Dow Jones Industrial Average surged 259.89 points, or 2.19%, to 12153.68, its biggest gain this month. The rally, which followed a 113-point rise Thursday, helped the blue-chip index nearly to recover what it lost during Wednesday's drubbing.

From: Craig James, Commsec Chief EconomistMORNING REPORT (7am AEDT)US consumer sentiment rose for the third straight month in November, rising from 60.9 to a five-month high of 64.2. The Economic Cycle Research Institute economic index rose from 122.1 to 122.3 in the latest week.

For economic and strategic reasons, the U.S. must rebuild its rare earth minerals supply chain, Senate staffers were told by the United States Magnetic Materials Association.

Greenhouse gas emissions (GHG) from the Australian power industry increased by 3.8% over the month of October, as lost generation gradually made a comeback in the lead up to summer, according to October's Emissions Insights report from RepuTex carbon analytics.

Bell FX Currency Outlook: The Australian dollar has opened this morning fairly unchanged at USD1.0150 as worries over Europe's ability to handle its debt crisis abated somewhat.

From Morrison Securities Pty. Ltd. U.S. stocks rose to session highs as hopes for the beleaguered labor market and clarification about France's credit rating buoyed investor sentiment. Trading was choppy as investors earlier Thursday fretted about France's credit rating.

China's clampdown on its rare earths production has alarmed trading partners led by Japan, which intends to take up the issue at the Asia-Pacific Economic Cooperation Forum in Hawaii.

Australian Bureau of Statistics (ABS) housing finance figures for September 2011 show in trend terms that the number of finance commitments increased for the fifth consecutive month; the September increase was 1.2 percent.