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Australia shares up, led by banks, on German court hopes  SYDNEY: Australian stocks rose 0.8 percent, with banks leading gains as investors remain hopeful a German court will make a decision that prevents the euro zone sovereign debt crisis from spreading. The benchmark S&P/ASX 200 index climbed 32.6 points to 4,358.4 as of 0253 GMT.  Later on Wednesday, Germany's Constitutional Court is expected to approve the European Stability Mechanism - the euro zone's new bailout fund - but legal experts believe it will impose tough conditions limiting German flexibility on future rescues.  A favourable court decision would show European sovereign debt and banking issues "are being addressed in a more robust form and obviously would be positive for banks there and banks here," said Peter Warnes, head of equities at Morningstar, adding that it will signal "the market is freeing up a bit." Shares in the banking sector all rose with the Commonwealth Bank of Australia posting the biggest gain, 1.5 percent to A$54.98.  A ...

Australia shares down on miners; BHP at 6-week low  MELBOURNE: Australian shares fell 0.9 percent to a one-month low on Wednesday, dragged down by iron ore miners which tumbled after steel futures hit a low, signalling weaker Chinese demand for the nation's main mineral export. BHP Billiton fell 2.4 percent to A$30.79, its lowest since July 26, after steel futures in Shanghai sank to an all-time low on Tuesday, piling pressure on the global iron ore market.  Banks were also affected by the weakness in commodities. ...
Australia shares pull back; RBA holds steady  MELBOURNE: Australian shares slipped 0.7 percent on Tuesday, as a weak banking sector outweighed miners lifted by hopes of central bank stimulus in the world's major economies. The Reserve Bank of Australia kept its main cash rate steady at 3.5 percent, a widely-expected decision as a resilient domestic economy gives it time to assess the impact of past easings.  Shares in third-ranked iron ore miner Fortescue Metals Group reversed early gains as the company joined other miners ...
Australia shares climb, retail data bolsters case for rate cut  SYDNEY: Australian shares scrambled into positive territory to trade 0.4 percent higher in late morning trade after an unexpected fall in domestic retail sales strengthened for the case for a rate cut later in the year. Australian retail sales dropped 0.8 percent in July from June, well short of forecasts of a 0.2 percent increase. The data came on top of a report from ANZ that showed Australian job advertisements in newspapers and on the Internet fell ...
Australia shares stumble, iron ore price drop hits miners  MELBOURNE: Australian shares slipped 0.3 percent on Wednesday as mining firms declined, hurt by falls in copper, iron ore and Shanghai steel futures prices. The non-mining sectors of the market were little changed as global markets experience near paralysis this week as investors await US Federal Reserve Chairman Ben Bernanke's Friday speech for signs of whether the central bank will opt for more monetary stimulus.  Top miner BHP Billiton dropped 1.2 percent, while rival Rio Tinto shed ...
Australia shares steady despite commodity woes  MELBOURNE: Australian shares rose 0.4 percent on Tuesday, shored up by banks and safe-haven healthcare stocks, while miners were under pressure on uncertainty over global growth. Coming out of the reporting season, investors have been picking up banks, utilities and healthcare stocks, seeing those sectors as relatively resilient to global headwinds, brokers and fund managers said. "There's been a bit of confidence slipping back into the mindset of investors," said Michael Heffernan, senior client adviser at Lonsec. Signs ...
Australia shares pare gains, iron ore miners sag  MELBOURNE: Australian shares inched up on Tuesday morning, paring early gains, with banks and safe-haven health care stocks shoring up the market while miners were under pressure on uncertainty over global growth. Investors have tiptoed into the market over the reporting season, buying companies that have proved resilient to global headwinds, such has blood products maker CSL, pushing the benchmark index to four-month highs. "Despite the macro concerns, some companies are still delivering profits. Where that's the ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln