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Market Wrap

AAP  |  THURSDAY, 15 APR 2004
The Australian dollar fell by more than one and a half US cents overnight to open weaker, having lost ground against a surging US dollar and other currencies. This follows a loss of as much as two US cents by the local currency yesterday. At 0700 AEST ...

A$ drops against greenback

AAP  |  WEDNESDAY, 14 APR 2004
The Australian dollar gave up one US cent overnight after the US dollar rallied against the major currencies on stronger than expected economic data. At 0700 AEST the local currency was trading at $US0.7540/48, compared with yesterday's close of 0.7633/38. ...

Market Wrap

AAP  |  WEDNESDAY, 14 APR 2004
In Sydney today, the Australian share market is likely to fall sharply, after Wall St tumbled on concerns a robust retail report could prompt the Federal Reserve to hike interest rates sooner than expected. Commodities prices, including base metals ...

NAB to change external auditor

AAP  |  THURSDAY, 8 APR 2004
National Australia Bank said late yesterday it intends to change its external auditor at the end of the current financial year. Audit committee chairman John Thorn said the bank is ending its long association with KPMG, which came under fire from the ...

RBA decision to leave rates unchanged no surprise

AAP  |  THURSDAY, 8 APR 2004
The Reserve Bank of Australia's (RBA) decision to leave interest rates unchanged in April has come as no surprise to economists who expect rates to remain on hold for a while yet. Yesterday the RBA held its key lending rate steady at 5.25% for the third ...

Market Wrap

AAP  |  THURSDAY, 8 APR 2004
The all ordinaries peaked at an intra day high of 3472.2 points yesterday, before closing up 6.9 points at 3462.9 - surging past yesterday's record closing high of 3455.9 points. The benchmark S&P/ASX 200 index, which hit a two-year closing peak yesterday ...

Housing market slowdown arrives "with a vengeance": Westpac

AAP  |  WEDNESDAY, 7 APR 2004
The housing market slowdown has arrived "with a vengeance", Westpac Banking Corp chief executive David Morgan said yesterday. But he said interest rates were still set to rise because of strong economic conditions in Australia and abroad. "The long-awaited ...

ABN Amro buys 50% stake in Absolute Capital

AAP  |  WEDNESDAY, 7 APR 2004
ABN Amro has acquired a 50% in Absolute Capital Group, a Sydney-based fund manager, the bank said in a statement yesterday. The Netherlands-based bank said it is keen to support the development of the structured credit products market and has entered ...

Market Wrap

AAP  |  WEDNESDAY, 7 APR 2004
The Australian dollar rose by one United States cent overnight as Japanese asset reallocation caused yen selling against the major currencies. At 0700 AEST the Australian dollar was trading at $US0.7630/35 compared with yesterday's close of 0.7532/37. ...

Market Wrap

AAP  |  TUESDAY, 6 APR 2004
The Australian dollar opened weaker today as the US dollar hit a four-month high against the euro overnight on the release of more positive economic data. At 0700 AEST the Australian dollar was trading at $US0.7539/44 compared with yesterday's close ...