US stocks have tanked more than two per cent after President Barack Obama's re-election victory set up a tough battle with Republicans over the looming "fiscal cliff".
Australian stocks finished 0.7 per cent higher, and the Australian dollar recorded solid gains, as US President Barack Obama's victory sparked a late afternoon rally.
Commonwealth Bank of Australia has lifted its first quarter cash profit to about $1.85 billion but warns difficult economic conditions are beginning to hit businesses.
US stocks closed with solid gains as the country goes to the polls to choose between Barack Obama and Mitt Romney for president, with the economy the key issue in the tight election.
The Australian dollar rallied to its highest level in almost six weeks after the Reserve Bank of Australia opted to keep the cash rate on hold for November.
Industry, retailers and unions have questioned the central bank's decision to leave the cash rate unchanged following its monthly board meeting, when many market economists were predicting a furthe
The Reserve Bank of Australia has kept the cash rate on hold for November, citing higher than expected inflation and signs of improvement in the global economy.
US stocks have scored gains on the eve of the presidential vote, with President Barack Obama and Republican challenger Mitt Romney locked neck-and-neck in the race for the White House.
The Australian share market finished slightly higher as investors await the United States presidential election and a local interest rate decision tomorrow.
The Reserve Bank of Australia might still keep its finger off the interest rate button despite a private sector survey showing slower growth in consumer prices.
Westpac has become the second of the big four banks to post a fall in full year profit, with the tax implications of its takeover of St George causing a 15 per cent fall to $5.97 billion.
Some buoyant data on consumer confidence and the manufacturing sector gave Wall Street a solid bump higher after Wednesday's flat reopening following the Hurricane Sandy shutdown.
The Australian dollar is almost level, as a weak share market performance puts a lid on any gains it makes on the back of strong Chinese manufacturing data.
US financial markets have re-opened after a historic two-day closure forced by superstorm Sandy, with the interruption having little impact on share prices themselves.
The Australian dollar is higher, as traders focused on next week's central bank board meeting and the decreasing expectations that there will be an interest rate cut.
National Australia Bank's full year net profit dropped 22 per cent to $4.08 billion due to millions of dollars in costs from its troubled operations in the United Kingdom.
