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.
A five-week streak of gains on US markets ended on Friday after revived worries that Greece will default on its huge mountain of debt sent stocks falling.
The Australian dollar has fallen one US cent after the central bank lowered its inflation forecast and Greece's moves to avoid a default on its debt suffered another setback.
The Australian share market closed lower as investors pondered possible weakening in the resources sector, a hold on interest rates this week, a soaring Aussie dollar and Greece's debt crisis.
A lower inflation forecast means there is still plenty of scope for the Reserve Bank of Australia (RBA) to drop the official interest rate further, economists say.
Banks clawed back margins on home loans in late 2011 with average interest rates on new variable mortgages declining by less than the overnight cash rate, the Reserve Bank of Australia (RBA) says.
The Australian share market closed slightly lower as investors mulled over mixed earnings results, the ongoing Greek debt crisis and whether or not China would cut its interest rates.
The Australian share market has opened weaker with the stocks of major companies BHP Billiton and Telstra weighing on sentiment after weaker-than-expected profit results.
Stocks staged an afternoon-long rally and closed higher on Wednesday as Greece appeared to close in on the cost-cutting deal it needs to keep from defaulting on its national debt.
The Australian dollar pushed past the 108 US cent mark as markets continue to react positively to the central bank's unexpected decision to hold interest rates steady.
The Australian share market has closed higher as a positive day for energy stocks offset weakness among Australia's retail banks and mining giant BHP Billiton.
Federal Treasurer Wayne Swan has brushed off concerns borrowers could be hit with higher bank interest rates, saying home owners and businesses could take their business elsewhere.
