Australian market shares lifted by energy and resource sectors
The Australian share market closed slightly firmer, buoyed by resources and energy stocks.
Investor confidence returns to Western Sydney
Retail asset and development site sales were bolstered by investor confidence as more than US$120 million worth of properties were sold in Western Sydney this year by the CB Richard Ellis’ Parramatta Metro team.
Melbourne’s bulky goods sector to perform well in 2011
The Melbourne metropolitan bulky goods sector has maintained strong growth this year due to low vacancy numbers and solid demand from retailers.
Plans to convert state library to hotel causes uproar
Plans to build a five star hotel in the former State Library has sent a heritage group into uproar.
More news
PanAust upgrades 2010 production guidance
PanAust Ltd (ASX:PNA) today increased its production guidance for 2010 to approximately 67,000 tones of copper at an average cash cost of less than US$0.90/lb of copper after precious metal credits, estimated from 60,000oz of gold and 500,000oz of silver in concentrate.
APRA to back introduction of Australia covered bonds
APRA Chairman John Laker ensures covered bonds do not jeopardize depositors' interest
CommBank replays NAB computer glitch drama
Commonwealth Bank of Australia (ASX: CBA) said it is fixing the late processing of accounts, which has left some retail and business customers unable to access accounts.
Australian Stock Market Report - Midday
Local stocks are trading flat at lunchtime in the East, with losses from the banks offsetting gains from mining stocks.
Toyota orders recall of Sienna minivans sold in US market
Number one global carmaker Toyota Motors Corporation is on a recall mode anew as the Japanese firm announced on Monday that close to 100,000 units of Sienna minivans would be pulled out from American roads in January 2011 for some minor switch replacements.
Increasing stamp duty burdens homebuyers
A Residential Stamp Duty report from BankWest found that stamp duty rates in the country rose by 36 percent in the past five years with Victoria found to have the highest stamp duty charges among all the states.
More properties approved for the Australian market but outlook remains weak
Recent figures suggest that more properties are scheduled for the Australian market although overall outlook remains weak because of rising interest rates.
AGL misses out on acquiring NSW electricity assets
AGL Energy Ltd (ASX:AGK) confirmed today it has not acquired any assets in the New South Wales government's sale process for its energy retail businesses and electricity gentrader contracts.
Australian dollar outlook 14/12/2010
The AUD has risen over a cent during the offshore session, currently trading around USD0.9950, with a combination of factors affecting its leap back towards parity.
Daily forex forecast - 14/12/2010
The Australian Dollar rallied offshore to a monthly high as global equities and commodities soared after China refrained from raising interest rates.
World Market Overview
U.S. stocks rose Monday after China elected not to raise interest rates and as Democrats anticipated the tax agreement would pass in the Senate.
Sporting retailers buys Scoresby property for $4.35 million
Sporting retailer TNF Group bought prime office/warehouse space in Melbourne suburb, Scoresby, for $4.35 million
Australian Stock Market Report - Morning
The OECD leading indicator for 29 countries lifted from 102.5 to 102.6 in October with activity accelerating in the US, China and France but easing slightly in Germany and Japan.
Banks and miners give share market minor lift
The Australian share market was driven marginally higher by the big four banks and miners.
RBA raises concern on proposed banking system reforms
A day after the government announced its proposed reforms to the financial system, Reserve Bank governor Glenn Stevens warned that the government should be careful in its attempts to promote competition in the banking sector.
Australian Stock Market Report - Closing
Local stocks eked out a small gain today, but came off earlier highs due to falls from regional lenders and a flat finish from index leader BHP Billiton (BHP).
Qantas, Virgin Blue fighting over senior staff
The exodus of key Qantas Airways (ASX: QAN) executives continues as Virgin Blue (ASX:VBA) poached another senior staff of the flying kangaroo.
Qantas acquires WA charter operator
Qantas Airways Ltd (ASX: QAN) says it will move into the Western Australian fly-in-fly-out (FIFO) resources air charter market, with agreement reached for the airline to purchase local operator Network Aviation.
Leighton consortium to construct New Royal Adelaide Hospital
Leighton Holdings Ltd (ASX: LEI) says its consortium has been selected as preferred proponent for New Royal Adelaide Hospital PPP project .
Access Economics predicts of a bleak Christmas retail season but points to growth for the next two years
Australians are keeping their hands on their pockets to shop less and save more, which mean that retailers could not expect windfalls even on the usual peak mode of the Christmas shopping season.
Australian Stock Market Report - Midday
Local stocks have kick started the trading week on a strong note, thanks to a positive offshore lead.
Australia leads in commercial property transactions in Asia
Australia along with Singapore and China led with the highest direct commercial property transaction volume in Asia-Pacific region amounting to US$18.2 billion, an increase of 14 percent compared to the previous quarter said an international real estate services consultant.
Perth real estate market struggling with slow sales
The Perth real estate market has had a challenging year with slow sales and properties taking about three months to get sold.
Foreign buyers return to office property investment
Foreign buyers and investment funds returned to the office property sector contributing US$481 million worth of investment or about 25 percent of total transactions for the year.
Charter Hall to sell interest in Desco, Regency
Property investment company Charter Hall Retail REIT (ASX:CQR), formerly Macquarie CountryWide Trust, has entered into a conditional agreement to sell its 60 per cent interest in a US portfolio of 32 properties, owned in partnership with Desco Group and Regency Centres.
Fortescue raises US$1.5 billion notes
Australian iron ore producer Fortescue Metals Group Ltd (ASX: FMG) today priced its previously announced offering of senior unsecured notes.
Australian dollar outlook 13/12/2010
The Australian Dollar has opened today where it closed on Friday evening in the mid .9800’s as the fears that China would raise interest rates to cool down their fast expanding economy did not eventuate.
Australian Stock Market Report - Morning
The US trade deficit narrowed from US$44.6bn to US$38.7bn in October and was below expectations for a US$44.5bn shortfall.
Daily forex forecast - 13/12/2010
Little movement was felt during Asia as the Aussie remain bound between 0.9830-0.9860 against the US Dollar as traders prepared for China’s release of economic data over the weekend.
World Market Overview
U.S. blue chip stocks posted their biggest gains of the week Friday, closing out a quiet week buoyed modestly by brighter economic data.
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