The Australian share market has opened stronger, with investors bouyed by further signs the US economy is recovering and renewed hopes the Greek bailout deal will go ahead.
The Australian dollar has risen almost one US cent on further signs the American economy is recovering and renewed hopes the Greek bailout deal will go ahead.
The Australian share market was dragged lower by renewed concerns that Greece is heading towards default and a weak lead from Wall Street while lower commodity prices weighed on mining stocks.
Stronger than expected jobs data has helped the Australian dollar to recover ground lost over concerns some European Union countries may be willing to let Greece default on its debt.
Commonwealth Bank of Australia's (CBA) first-half cash profit has grown by seven per cent to $3.57 billion and the company has no plans for major job cuts.
US stocks were weighed down by unravelling debt talks in Europe and didn't get any help from a disappointing result on retail sales. The three major stock indexes were lower all day.
Moody's downgrades of debt ratings of Italy, Spain and Portugal and, locally, softer commodity prices dragged the Australian share market almost one per cent lower.
The Reserve Bank of Australia has backed claims by major lenders that their cost of borrowing has risen drastically in the wake of Europe's sovereign debt crisis.
There is no law against providing lousy financial advice, but there ought to be, and the first person investigated should be the man in charge of Australia’s finances, Wayne Swan.
Australian stocks opened lower this morning, with market players using the downgrade of three European countries as a catalyst to sell out of equities.
US stocks closed higher on Monday after the Greek parliament's approval of tough austerity measures paved the way for a new financial rescue of the country.
The Australian share market closed strongly, with investors delighted after the Greek parliament voted for an austerity package needed to obtain bailout funds.
Expectations of a strengthening housing sector have been helped by new figures showing a rise in the value of new home loan commitments to a two-year high, economists say.
The Australian share market opened higher this morning after the Greek parliament agreed to an austerity package needed to obtain bailout funds for the debt-laden country.
The Australian dollar has fallen to its lowest level in almost two weeks as the Greek parliament debates legislation that would enable the euro-zone nation to avoid a default on its debt.
