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General

Morning Market Wrap: Dollar strong after volatile night

The Australian dollar opened stronger today after a volatile night where it was pulled down by the euro.At 0700 AEST the Australian dollar was trading at $US0.6881/86 compared with yesterday's close of 0.6878/84.

Afternoon Market Wrap: Resources push market despite Wall Street falls

The Australian share market ignored the fall on Wall Street overnight and closed higher today pushed up by strength in resources.

Midday Market Wrap: US dollar rebound flattens dollar

The Australian dollar has fallen half a US cent to noon, weighed down by a continued rebound in the US dollar.

Macquarie Securitisation launches $650 million domestic bond issue

Macquarie Securitisation, the wholly owned subsidiary of Macquarie Bank Ltd, has launched a $650 million bond issue in Australia, its second A$ denominated issue for 2003.

Bank of Queensland posts record profit

The Bank of Queensland (BOQ) has today announced that it had made a record profit for the 2003 financial year at the top end of analyst expectations, due to strong growth in its retail and business banking.

Australia secures fourth place on global managed fund ranking

Australia has climbed up to fourth place on the global managed fund ladder, overtaking Italy in its total managed fund assets, an Investment and Financial Services Association (IFSA) survey has revealed.

Wesfarmers acquires Lumley for $320 million

Wesfarmers has announced the completion of its acquisition of Edward Lumley Holdings Limited and the Lumley Insurance Group's Australian and New Zealand operations for approximately $320 million, plus the assumption of external debt of some $55 million.

Macquarie expects strong increase in profits in its financial services group

Macquarie bank is on track with its retail financial services strategy and expects a strong increase in profits for its Financial Services Group (FSG).

ANZ launches proceedings over NHB insurance recovery

ANZ has issued proceedings in the Victorian Supreme Court regarding ANZ's $130 million insurance claim, consequent upon settlement in January 2002 of its former subsidiary Grindlays Bank's 1992 dispute with India's National Housing Bank (NHB).

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.