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Market Wrap

AAP  |  THURSDAY, 5 FEB 2004
The Australian dollar opened weaker this morning after a subdued night of trading, as the markets await the start of the Group of Seven meeting in Florida. At 0700 AEDT the local unit was trading at $US0.7612/17 compared with yesterday's close of 0.7644/50. ...

RBA rate hikes not over despite steady call: economists

AAP  |  WEDNESDAY, 4 FEB 2004
Today's decision by the Reserve Bank of Australia to hold interest rates steady this month was widely expected but doesn't mean a rate hike isn't around the corner, economists warned. The RBA today kept its key interest rate steady at 5.25% after its ...

Business conditions ease in December

AAP  |  WEDNESDAY, 4 FEB 2004
Australian business conditions eased in December and domestic demand was expected to slow in some sectors, although business remained strong after nearing record levels the previous month, a survey has found. The National Australia Bank monthly business ...

Market Wrap

AAP  |  WEDNESDAY, 4 FEB 2004
The Australian dollar opened stronger this morning as the United States currency lost ground after poison was found in a US Senate building. At 0700 AEDT the local unit was trading at $US0.7648/56 compared with yesterday's close of 0.7612/17. Offshore ...

NAB prompts Labor to take aim at golden handshakes

AAP  |  TUESDAY, 3 FEB 2004
Companies would lose the right to claim massive payouts to outgoing executives against tax, Labor said today, as bank boss Frank Cicutto prepared to receive a $3 million golden handshake. Mr Cicutto announced his resignation from the National Australia ...

Market Wrap

AAP  |  TUESDAY, 3 FEB 2004
The Australian dollar opened weaker across the board, as traders squared up their long positions ahead of the Reserve Bank of Australia's announcement tomorrow morning. At 0700 AEDT the local unit was trading at $US0.7574/82 compared with yesterday's ...

Market Wrap

AAP  |  FRIDAY, 30 JAN 2004
The Australian dollar has lost more ground against the United States dollar, which has continued to surge on ramped up market expectations for a US interest rate rise. At 0700 AEDT the local currency was trading at US$0.7608/13 compared with yesterday's ...

Contango LIC to focus on micro-caps

Contango Asset Management has launched what it claims is Australia's first listed investment company (LIC) investing exclusively in the micro-cap sector of the Australian market. Shares in the LIC, Contango MicroCap, were available from yesterday with ...

Market Wrap

AAP  |  THURSDAY, 29 JAN 2004
The Australian dollar fell almost 1% against a surging US dollar after the US Federal Reserve softened its commitment to maintain interest rates at current record lows for a considerable period. At 0700 AEDT the local currency was trading at $US0.7734/39 ...

NAB sells AMP, St George shares to offset rogue trading

AAP  |  WEDNESDAY, 28 JAN 2004
National Australia Bank (NAB) will sell its stakes in AMP, HHG and St George Bank Ltd for a profit of about $450 million, offsetting the $360 million loss from the rogue trading scandal. NAB made the surprise announcement of its massive share sales ...