Vittorio Hernandez

The Australian sharemarket ended slightly weaker today, however ended the month and the quarter in positive territory. Shares rose by around 0.8 pct in March however jumped by 7.7 pct this quarter (January to March 2012). In fact, we have had the best start to a new year since 2006.

Over the last few day global markets have been hit by more concern over the global slowdown and European debt problems. Overnight the US markets finished mixed with the DOW Jones climbing higher in the last few minutes of trade but the NASDAQ still finishing in the red. Today is the last day of the quarter and the ASX 200 index looks set to close the quarter up over 7pct. By lunch the All Ordinaries Index (XAO) had risen by 16points or 0.38pct to 4,438 points.

Hardware chain Bunnings Warehouse announced on Friday that it would create 6,000 jobs in Australia over the next three years as part of its $1.5-billion expansion plan. That would involve the setting up of 85 new stores across the country which would also create more than 11,500 construction jobs.

Through its takeover of Anvil Mining, Minmetal Resources of China said on Friday that it would use its recently acquired assets to acquire mines in southern Africa.

After reaching a 2012 high yesterday, the local share market pulled back a little today, following falls in offshore markets and due to a lack of guidance in the form of economic data. The All Ordinaries Index (XAO) closed down 9.5pts or 0.2pct to 4422 while the S&P/ASX 200 Index (XJO) lost 5.6pts or 0.1pct to 4337.9.

Yesterday Australian stocks closed at their highest levels in almost five months but today investors are selling. Overall the Australian market is still performing a lot better than expected. Overnight end of quarter and end of month trading along with weak economic data out from the UK and US sent stocks lower. The All Ordinaries Index (XAO) is currently only down by 2pts to 4,433 points.

The Canadian miner, Crocodile Gold, just purchased two Australian mines from another Canadian firm, AuRico Gold. It bought the Fosterville and Stawell mines in Victoria for $101 million.

By 2030, Australia would have a population of over six million people. That would need another 2.7 million more homes, 125,000 retirement facilities and 24,000 additional hospital beds.

While many Australian businesses would want to gain greater access to ecommerce through mobile devices, many of these firms lack the knowledge and infrastructure to reach their target market.

The Australian dollar gave up ground against most of the other major currencies overnight as speculation grows that that RBA may move to cut official interest rates next month.

Since 2008, the global financial crisis has wiped out more than $70,000 from the value of assets by the average Australian household. In 2011 alone, about $40,000 were lost from the average household assets value, a report by the Reserve Bank of Australia released on Thursday said.

In US trade, markets retreated on the back of disappointing durable goods orders and a plunge in oil prices. Risk appetite was generally subdued with commodities and risk currencies losing ground. Stocks were choppy through most of the European session, until the durable-goods orders data triggered the sharp move lower.

Treasurer Wayne Swan warned on Thursday of spending cuts and programme cancellations for the Australian government to achieve in May the budget surplus it promised. Money would also be redirected where it is needed most, he told the Australian Business Economists breakfast in Sydney.

Australian stocks closed at their highest levels in almost five months today as investors snapped up financial and consumer stocks, encouraged by commentary from the Reserve Bank of Australia. The All Ordinaries Index (XAO) rose above 4400 for the first time this year, adding 39.8pts or 0.9pct to 4431.4 while the S&P/ASX 200 Index (XJO) firmed by 42.2pts or 1pct to 4343.5.

While asylum seekers globally are on the rise, in Australia their numbers went down by 9 per cent in 2011, a report by the UN Refugee Agency released on Wednesday said.

Xstrata won its legal battle against environmentalists and farmers to operate the open cut mine in Surat Basin in southern Queensland. The legal victory for Xstrata came after a court ruled that environment change is not sufficient reason to stop the development of one of the biggest coal mines in Australia.

After a quiet night on the overseas markets the Australian market opened a few points higher and has extended its rally throughout the morning. The U.S. markets were held back by weaker than expected home price data, a fall in consumer confidence for March and profit taking after Monday's big rally. Yesterday on the Australian Stock Exchange (ASX) key banks, health care as well as food and beverage retail stocks moved higher. Today most sectors are holding on to gains into the afternoon sessi...

Thailand is wooing struggling automotive companies in Australia to move their operations to the former. Visiting Thai Deputy Secretary General Duangjai Asawacintachit, who heads the Board of Investment, said Thailand's solid economic growth and free trade links to other Asian nations offered wide opportunities for Aussie firms.

Cooper Brewery Chairman Glenn Cooper called for new laws to stop the duopoly in the supermarket industry and protect local owners of farmlands. He specifically blamed Woolworths and Coles, which have engaged in a price war to the detriment of Australian farmers

Treasurer Wayne Swan gave Australians a glimpse into the Gillard government's new policy direction on Asia in a speech he delivered on Wednesday at the Australia China Business Council in Melbourne. Mr Swan called on Australia's business community to make an inspired decision and create greater links with Asia.

Encouraging comments from US Federal Reserve Chairman Ben Bernanke has seen the Australian share market post solid gains in early trade. Chairman Bernanke hinted in a speech to US economists overnight that the Fed remains committed to keeping interest rates in the US low. He also hinted at a third round of economic stimulus, which saw the broader S**9**amp;P 500 Index in the US hit four year highs during New York trade. Early in the local session, the All Ordinaries Index (XAO) is up 34.1pts or ...

An investigation by Australian federal law enforcement agencies suspect Western Union money remitters of helping move millions of drug money out of the country the past five years.

The number of lonely people in Melbourne is going up. A report by the Grattan's Institute said the proportion of people with fewer friends and good neighbours is on the decline compared to two decades ago.

Australian customers are getting back at the big four lenders by giving it lower satisfaction ratings after the banks unilaterally increased their mortgage rates despite two decisions by the Reserve Bank of Australia (RBA) to keep the overnight cash rate unchanged at 4.25 per cent.

The Cancer Society is against the planned increase of New Zealand export of tobacco products to Australia. While the hiked production of cigarettes would lead to the creation of 50 new jobs in the next 24 months, it would also cause the loss of 20,000 lives yearly in Australia, Cancer Society Health Promotion Manager Jan Pearson said.

In a bid to further modernise the operations of its post office, Australia Post announced on Monday the launch of the online digital mailbox.

The local share market ended the day's trade on a subdued note, which was expected to be the theme of the day given no release of local economic data and mixed offshore leads on Friday. Despite a strong start, mining stocks dragged on the overall market seeing the All Ordinaries Index (XAO) close down 5.5pts to 4355.2.

Retail giant Solomen Lew criticised on Monday the alleged mishandling by the Reserve Bank of Australia's (RBA) of the resources boom. He said the bank's board lacked an understanding of the broader Australian economy.

Last week the Australian share market ended lower closing out a hard week for investors. However this morning the market seems a bit brighter thanks to higher commodity prices over the weekend and no negative news hitting the screens. At lunchtime in the East, the All Ordinaries Index (XAO) is higher by 4pts to 4,364.