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No rate increases in near future: banks

AAP  |  THURSDAY, 16 OCT 2003
In what should come as a relief to Australians with home loans, the head of the St George Bank and a senior executive from the Commonwealth Bank of Australia both said yesterday they did not expect official interest rates to rise in the near future. ...

Morning Market Wrap: Market to ease on flat lead from US

The Australian share market is likely to ease slightly following a flat lead from key United States indices overnight. By 0719 AEST on the Sydney Futures Exchange the December share price index contract, a key indicator of trading for the day ahead ...

Afternoon Market Wrap: Bank rebound offsets resources sector

A rebound by the banks offset some heavy profit taking in the resources sector as the Australian share market edged to a fresh 16 month high today. Macquarie Equities client adviser Helen Spencer said overall the market had suffered a change in sentiment ...

Midday Market Wrap: Dollar strong, bonds weaker

The Australian dollar was stronger at noon after hovering around the $US0.6900 level overnight, with analysts saying the volatility was driven by a touch of strength in the United States dollar. At 1200 AEST the Australian dollar was trading at $US0.6890/95 ...

Government announces new draft legislature on super, foreign exchange

Draft legislation to allow splitting of superannuation contributions will assist families, according to Minister for Revenue and Assistant Treasurer Helen Coonan. The draft legislation, which was announced yesterday, also included amendments to allow ...

REST appoints MFS its new global equities manager

Industry superannuation fund REST has appointed MFS to manage a $200 million global equities mandate - around 3.6 per cent of its entire portfolio - it announced yesterday. REST said it appointed MFS to diversify its overseas equities portfolio. "We ...

Morning Market Wrap: Gains continue; US$ weakens

The Australian share market is likely to continue its recent gains, following a slight lead from key United States indices overnight. By 0710 AEST on the Sydney Futures Exchange the December share price index contract, a key indicator of trading for ...

Midday Market Wrap: Gold and resources lead market; bonds and dollar weak

The Australian share market was up more than half a per cent at midday, pushed along by strength in gold and resources and strong performances by offshore markets overnight. At 1208 AEST, the benchmark S&P/ASX 200 index was 18.1 points stronger at 3294.5 ...

AMP faces $1 billion writedown

AAP  |  TUESDAY, 14 OCT 2003
Troubled financial services group AMP Ltd will reportedly take another $1 billion hit on the value of its United Kingdom business. The Australian Financial Review reported today the writedown will come as part of AMP's planned demerger of its Australasian ...

ABA reports "pleasing" fall in banking ombudsman cases

The Australian Bankers' Association (ABA) has said it is pleased with the 13.3 per cent fall in the number of cases dealt with by the Banking Ombudsman, compared to last year. The fall was reported in the Banking and Financial Services Ombudsman (BFSO) ...