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Market Wrap

AAP  |  TUESDAY, 9 AUG 2011
... per cent, according to IRESS. The spot price of gold in Sydney was $US1,723.90 per ounce, up $13.72 from Monday's local close of $US1,710.18. Ms Chan said that, for many market players, the events of 2008/09 were fresh in traders' minds. "You have to ...

Stocks in freefall on recession fears, banks cut mortgage rates

ALISON BEVEGE  |  TUESDAY, 9 AUG 2011
Investors panicked sending the Australian stock market into freefall and bond markets soaring, following large losses on Wall Street. In morning trade, the All Ordinaries index plummeted 211.2 points or 5.21% to 3845.5, while the S&P/ASX 200 lapsed ...

Praemium appoints new CEO as platform business booms

MATT WOODINGTON  |  TUESDAY, 9 AUG 2011
... 2006, Naoumidis felt that now was the time to resign from his position as chief executive. "Arthur will maintain a very close relationship as a consultant, working closely with management and will continue to play a major role in development of technology ...

Goodbye or good buy?

BENJAMIN ONG  |  TUESDAY, 9 AUG 2011
... case for there's the number '666' attached to the S&P 500 index. It's how much the index dropped last night from its Friday close. The 6.66% dive took the S&P 500 index's total losses to 11.2% over the past three trading days - the most since November ...

Market Wrap - Morning

AAP  |  TUESDAY, 9 AUG 2011
... Poor's dealt the United States an unprecedented downgrade. The Dow was down 5.6 per cent to finish at 10,809.85, its lowest close since last October. It was the steepest one-day drop in point terms since the financial crisis of 2008. The broader S&P ...

Govt provides reverse mortgage guarantees

ELISE BURGESS  |  MONDAY, 8 AUG 2011
The Federal Government has made its first move in the race to fiscally manage the ageing population, with the release of draft legislation to increase protection around reverse mortgages. Assistant Treasurer and Minister for Financial Services and Superannuation ...

Market Wrap - Morning

AAP  |  MONDAY, 8 AUG 2011
... points, or 4.21 per cent, weaker at 4,169.7. NEW YORK - The Dow Jones Industrial Average gained 0.54 per cent on Friday to close at 11,444.61 after a roller-coaster day on the markets, ending the week with steep losses. The broader S&P 500 was down 0.06 ...

USA no longer AAA

BENJAMIN ONG  |  MONDAY, 8 AUG 2011
... Wall Street Journal, "...Treasury officials discovered that S&P officials had miscalculated future deficit projections by close to $2 trillion. It immediately notified the company of the mistakes... S&P officials later called administration officials ...

Market Wrap - Midday

AAP  |  FRIDAY, 5 AUG 2011
... cents to $28.80. At 1200 AEST, the price of gold in Sydney was $US1,649.90 per fine ounce, down $US13.40 from $US1,663.30 at close on Thursday. Gold miner Newcrest was down $1.33 at $39.32. Sleep-disorder breathing products supplier, ResMed Inc, was ...

Markets crash as recession fears hit

ALISON BEVEGE  |  FRIDAY, 5 AUG 2011
... market's value. Bloomberg market data showed the Dow Jones Industrial Average dropped 512.76 points or 4.3% overnight to close at 11,383.7 while the S&P 500 Index was down 60.27 points or 4.78% to 1200.07. In Europe, the Euro Stoxx 50 index fell 85.5 ...