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Market Wrap - Morning

AAP  |  FRIDAY, 29 AUG 2008
The Australian stock market is expected to open stronger after US stocks gained for a third day overnight, led by manufacturers and financial companies. At 0734 AEST on the Sydney Futures Exchange, the September share price index futures contract was ...

IOOF profits down

RUTH LIEW  |  THURSDAY, 28 AUG 2008
IOOF has reported $26 million in net profit after tax, a drop of more than 10 per cent lower from its previous corresponding period. In a statement released on the Australian Securities Exchange today, IOOF reported a $25.9 million underlying net profit ...

NabInvest appoints new retail distrib head

RUTH LIEW  |  WEDNESDAY, 27 AUG 2008
NAB investment arm nabInvest has promoted Peter Smith to the role of head of retail distribution. Smith will be responsible for the development and execution of the retail sales strategy for nabInvest, including developing relationships within the financial ...

A$ backpedals

BENJAMIN ONG  |  WEDNESDAY, 27 AUG 2008
The Australian dollar is fast becoming the victim of the worsening global growth outlook. The A$ fell by 1.6 per cent against the US dollar to around US$0.8550 and by 1.7 per cent vis-a-vis the yen to about Y93.50. Reports that the International Monetary ...

Long-term service doesn't guarantee referrals

MICHAEL HOBBS  |  TUESDAY, 26 AUG 2008
Investors who have been with an adviser for more than five years are less likely to recommend that adviser than those who have only been with one for a shorter period, according to a new survey. An ING survey conducted in June and July, revealed the ...

Bad news galore

BENJAMIN ONG  |  TUESDAY, 26 AUG 2008
A fresh wave of negative news on the credit market, growth worries and a decline in commodity prices overnight will put downward pressure on today's trading in the Australian stockmarket. Renewed concern over the financial sector and the outlook for ...

Market Wrap - Morning

AAP  |  TUESDAY, 26 AUG 2008
The Australian stock market is expected to open lower after US stocks fell by two per cent overnight. At 0738 AEST on the Sydney Futures Exchange, the September share price index futures contract was down 90 points at 4,911. Today, annual results are ...

Challenger FM down, CEO says goodbye

RUTH LIEW  |  MONDAY, 25 AUG 2008
... $218 million for the year ended 30 June 2008. A critical contributor to the boost in Challenger's asset management is the sale of the group's financial planning division Genesys Wealth Advisers and proprietary platform Synergy to AXA for $150 million. ...

Capex & Credit at the forefront

BENJAMIN ONG  |  SUNDAY, 24 AUG 2008
This Week's Market Movers (25 - 29 Aug 2008) Last week's economic releases continued the common theme of global weakness and elevated inflation. Financial market activity were once again volatile as thin trading volumes exaggerated downward moves in ...

Dovish RBA minutes

BENJAMIN ONG  |  FRIDAY, 22 AUG 2008
As expected, the minutes of the Reserve Bank of Australia's monetary policy meeting held on 5 August reiterated earlier RBA comments suggesting that there is scope to lower interest rates given the slowdown in demand in the Australian economy. As with ...