The Australian share market opened almost 1.5 per cent lower, reversing yesterday's gains, after German officials dampened optimism over the European bailout plan.
The Australian dollar has fallen more than one US cent as comments from Berlin dampen expectations an upcoming European Union (EU) summit will solve the eurozone's debt crisis.
US equity markets sank Monday after a three-week rally after a meeting of G20 finance chiefs failed to boost confidence that a solution to the eurozone debt crisis is near.
The Australian dollar has hit a one month high after finance ministers from the world's wealthiest nations vowed to stop the European debt crisis from spreading.
Australia's corporate and securities watchdog has given the green light for Chi-X Australia to start operating the country's second securities exchange market on October 31.
A pick-up in borrowing by businesses is emerging as an argument against a cut in interest rates at the next monetary policy meeting of the Reserve Bank of Australia.
The Australian dollar surged more than one US cent to a one-month high on optimism that world finance leaders were close to announcing a comprehensive plan to tackle Europe's sovereign debt crisis.
US stocks scored their third straight week of gains on Friday as anticipation of a fairly solid third-quarter earnings season trumped worries about Europe and weak economic growth.
The Australian dollar continued its climb above parity, after a tumultuous night offshore when ratings agency Standard and Poor's cut its credit rating for Spain.
Falling banking stocks dragged the US equity market down on Thursday amid worry about fallout from a Greek default, but Apple and Google helped the Nasdaq gain for a fourth straight day.
The Australian dollar rose to three-week highs overnight as approval of a European bailout fund looks more likely and after some negative comments about the US economy by its central bank.
Property statistics released today revealed a mixed bag for the sector, with the total value of home sales plunging over the last financial year, despite a fifth consecutive month of rises in home
The Australian share market opened slightly lower on the back of dramatic falls on overseas metals markets and a weak start to the US reporting season overnight.
US stocks drifted to a mixed finish Tuesday ahead of the start of company earnings season and a key vote in Slovakia that could decide the eurozone's rescue fund amid a sovereign debt crisis.
Australia's sharemarket will climb back to its pre-financial crisis record high by 2013/14 and investors will enjoy returns higher than six per cent a year in the meantime.
The Australian share market ended higher but pulled back from earlier gains, as investors digested news that France and Germany have a plan to fix the eurozone debt crisis.
US stocks rallied sharply Monday after Germany and France pledged over the weekend to find a solid plan to address the eurozone debt crisis and shore up European banks within weeks.
Australian shares were higher at noon, bucking a weak US lead as investors took heart in a plan to recapitalise ailing European banks to help contain the impact of the eurozone debt crisis.
Wall Street stocks closed in the red on Friday after a credit downgrade on Italy and Spain snuffed out a rally on better-than-expected US jobs numbers.
Australian shares have posted the best week in over a year as money flowed back into stocks on confidence European banks will be strengthened against a possible Greek default.
