The Australian share market has closed higher, boosted by a better-than-expected unemployment rate and expectations that another cut to interest rates will be forthcoming despite the stronger jobs
National Australia Bank's net profit for the six months to March 31 fell 15.5 per cent to $2.05 billion due to its underperforming operations in the United Kingdom.
US stocks have pared early sharp losses to close with moderate falls after European Union (EU) officials confirmed that Greece would get the next installment of bailout funds this week.
Fears gripping global markets have seen the Australian dollar fall almost one US cent and could could sink it below parity with its American counterpart in the next few days.
The Australian share market has closed lower over the uncertain future of austerity measures aimed at stabilising some debt-ridden countries in the euro zone, especially Greece.
The Australian dollar has moved slightly higher, recovering some of the gains lost in Monday's sell-off, despite renewed concerns about Europe's debt crisis.
Australian shares opened slightly higher after gains for European stocks when their markets had a change of heart about the election of France's first Socialist president in nearly two decades.
US stocks have closed mixed, showing little impact from the weekend votes in France and Greece which cast doubt on the path of financial reform across the troubled eurozone.
The Australian dollar has fallen more than one US cent after a negative global reaction to disappointing US employment data and European election results dragged stock markets lower.
The Australian share market has taken a beating, after renewed concerns over the euro zone and disappointing jobs data in the United States sent spooked investors running for the exits.
Australian stocks have opened almost 1.5 per cent lower, following instability in European markets after the election of France's first Socialist president in nearly two decades.
US stocks plunged Friday after the government reported that hiring slowed sharply last month. The report confirmed investors' fears that the US economic recovery is faltering.
Poorer than expected growth from China reduced the market capitalisation of Western Australian listed companies by 2.8 percent in April, according to new research released today.
Westpac's business customers have received greater interest rate relief than mortgage holders, with the bank saying the sector needs a boost in the current economy.
Wall Street made a brief incursion into positive territory early Thursday, but spent the rest of the day in the red as trepidation about weak data sent markets into a spin.
The Australian dollar fell about one-third of a cent to below 103 US cents after the publication of data showing weaker than expected Chinese economic output.
Australian stocks closed marginally lower on a day of low volumes as gains among finance-linked companies were offset by weakness in the energy sector.
Westpac Banking Corporation is unlikely to pass on the central bank's 0.5 per cent rate cut despite making a near $3 billion profit in the first half of its fiscal year.
The Commonwealth Bank of Australia has cut its standard variable home loan rate by 40 basis points to 7.01 per cent, while Westpac said it would wait until tomorrow to announce its intentions.
US stocks clawed back early sharp losses on disappointing data on private-sector job growth, with the Nasdaq index ending in the black while the Dow closed with a minimal loss.
The Australian dollar recovered some of the ground lost after this week's official interest rate cut as investors shifted their focus to recent positive data from the US and China.
Former federal opposition leader Dr John Hewson says the Reserve Bank of Australia (RBA) should continue slashing interest rates so they are in line with other developed economies.
