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Economic indicators defy equities upside: Schroders

MARK SMITH  |  WEDNESDAY, 17 OCT 2012
Equities remain an attractive investment despite a dismal global growth forecast, an over-inflated Aussie dollar and unprecedented levels of developed world government debt, according to Schroders' Andrew Fleming. The deputy head of Australian equities ...

State Street profits up 23% on Lehman wind up

MARK SMITH  |  WEDNESDAY, 17 OCT 2012
State Street, one of the world's largest providers of financial services, has announced a 23% rise in third quarter profits despite a slight fall in revenue, bolstered by claims linked to the Lehman Brothers' bankruptcy. The Boston-based bank, which ...

Super cap breaches tumble

LINDA HAUSKEN  |  WEDNESDAY, 17 OCT 2012
The Australian Tax Office's (ATO) latest report on cap breaches shows the number of people who exceeded the concessional contribution cap has dropped by 37% in the last 12 months. According to the ATO, in 2010/11 a total of 31,217 exceeded the cap ...

It's raining, it's pouring good news

BENJAMIN ONG  |  WEDNESDAY, 17 OCT 2012
Move on people, nothing to see here, just more of the same - a continuation of the flow of eco stats and surveys and developments that are surprising on the upside. It's still early days to go gangnam (hey, sexey leydey) but we may be witnessing the ...

Market wrap AM

AAP  |  WEDNESDAY, 17 OCT 2012
... Wall Street Journal reported. London's benchmark FTSE 100 index of top companies jumped the next day by 1.12 per cent to close at 5870.54 points. Frankfurt's DAX 30 gained 1.58 per cent to 7376.27 points, as data showed that investor sentiment in Germany ...

Market wrap late PM

AAP  |  TUESDAY, 16 OCT 2012
... points, or 0.72 per cent, to finish at 13,424.23. Meanwhile, the broad-based S&P 500 rose 11.54 points, or 0.81 per cent, to close at 1,440.13. But resources stocks are continuing to face pressure ahead of Chinese data on industrial production due out ...

Public pension deficit exceeds $1trn

MARK SMITH  |  TUESDAY, 16 OCT 2012
... members. Becky Sielman, author of the Milliman Public Pension Funding Study says that pension plans are working hard to close the funding gap, however the research shows that their strategies might not go far enough. "Our approach was to start with a ...

Mason Stevens appoints head of equities

MARK SMITH  |  TUESDAY, 16 OCT 2012
Mason Stevens has appointed Jack Chemello as head of equities in a newly created role, it was announced today. Chemello joins from BT where he was portfolio manager of the flagship BT Imputation fund. He also managed BT's ethical funds and was responsible ...

Market wrap AM

AAP  |  TUESDAY, 16 OCT 2012
... Citigroup that helped lift financial stocks. The Dow Jones Industrial Average climbed 95.38 points, or 0.72 per cent, to close at 13,424.23. The broad-based S&P 500 rose 11.54 points (0.81 per cent) to 1,440.13, while the tech-rich Nasdaq added 20.07 ...

Market Wrap - late AM

AAP  |  MONDAY, 15 OCT 2012
... the rate expected in September. BHP Billiton was eight cents down at open to $33.46 and Rio Tinto was flat at $56.40. At close on Friday, the Dow Jones Industrial Average was up 2.30 points, or 0.02 per cent, at 13,328.69. The broad-based S&P 500 lost ...