The market is up 45. The SFE Futures were up 13 this morning.

The Dow Jones closed down 43 overnight. It was down 149 at worst. It was the old story overnight but the other way around. US$ up, equities down this time. The $US put on 0.5% on a Wall St Journal article suggesting the Fed would go slowly on its next round of quantitative easing to be announced at the FOMC Meeting next week. Commodity prices fell as the dollar rose. New Homes sales came in higher than expected in September at 307,000, up from 288,000 the previous month. Gold down $16. Oil down 61c and metals down 2-4%.

Today’s main points…

  • ANZ Bank (ANZ) — Better-than-expected FY result — Cash profit came in at $5.13bn, up 51.7% from $3.38bn and higher than the $4.88bn analysts’ expected. Final dividend of 74c a share, up from 56c. ANZ up 2.3% to 2463c.
  • Austar United (AUN) — 3rd Q 2010 Results are out — Total subscribers up 14,771 to 761,919. AUN down 1.5%.
  • ASX Ltd (ASX) up 2% to 3803c today — The Australian reports that the ASX had been looking for a foreign merger partner for several years and was in advanced merger talks with the Nasdaq Stock Exchange before the GFC hit.
  • ING Industrial Fund (IIF) received $1.47bn takeover bid a consortium of pension and sovereign wealth funds led by Goodman Group (GMG). The conditional incomplete offer values the company at 57c a share, its NTA at the end of June. IIF up 18% to 54.5c. GMG up 1c to 64.5c.
  • Westfield Group (WDC) has opened the first stage of its $1.2bn redevelopment of Westfield Sydney, Sydney’s central business district. WDC up 16c to 1237c.
  • Asciano (AIO) have brought into question QR National’s coal-haulage and profit forecasts. This comes as AIO issued a more cautious full year outlook and said haulage volumes on its Pacific National rail network were below expectations. AIO fell 4.3% yesterday on its AGM statement.
  • The AFR reported today that OneSteel (OST) is considering bidding for Anglo American’s Scaw Metals Group. OST down 1c to 272c.
  • APA Group (APA) held its AGM today and told shareholders its 1st Q performance has been in line with expectations. Intends to lift FY11 distribution by at least 5%. APA up 2c to 396c.
  • Stock going ex-dividend today include: Adtrans Group (ADG) 50c and Ten Network (11c inc special dividend.
  • Stocks hitting fresh yearly highs include: Acrux Ltd (ACR), Intoll Group (ITO).
  • Stocks hitting 52 week lows include: Mirabela Nickel (MBN), Photon Group (PGA).

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