The Australian dollar is weaker despite some upbeat Chinese and American manufacturing data. At 1700 AEDT on Friday, the local unit was trading at 94.80 US cents, down from Thursday's 94.92 cents. The ...

Export commodity prices edged down by one per cent in October in foreign currency terms, to be 24 per cent down from their peak in 2011. The monthly fall in the index compiled by the Reserve Bank of Australia reversed a small rise the month before, and took the index to levels just above the three-and-a-half year low recorded in August. In Australian dollar terms, which was higher in the month, the index fell by 2.4 per cent in October. Primary commodities dominate Australia's exports and the ratio of export prices to import prices - the so-called terms of trade - is a major influence on the Australian dollar's value over the long term.

Shares in Macquarie Group climbed to their highest level in four years after the investment bank's half year profit rose by 39 per cent to $501 million. Macquarie has also pointed to a stronger full year result, lifted its dividend payment and decided to transfer its holding in Sydney Airport directly to its shareholders. Macquarie's net profit in the six months to September 30 was up from $361 million last year. Chief executive Nicholas Moore said its annuity business recorded a 24 per cent increase in profit, while earnings from the capital markets business also rose significantly.

A strong New Zealand dollar has contributed to the Commodity Price Index going up 2.6 percent.

David Jones is upbeat ahead of the busy Christmas season as the upmarket department store chain enjoys a healthy post-election boost in sales. Chief executive Paul Zahra said the company was waiting for consistent consumer sentiment results following a bumper month in September. "We're well placed for a good Christmas, however consumers remain fickle and we remain cautious as a result," Mr Zahra told a first quarter sales conference call. "Until there's consistent and sustainable positive consumer sentiment it's hard to call."

Shares in Bega Cheese have surged to a record high after the world's biggest dairy exporter Fonterra bought a six per cent stake in the NSW company. New Zealand-based giant Fonterra is expected to continue its buy-up of Bega shares, but the century-old Bega has a 10 per cent shareholder cap. Fonterra Co-operative Group announced on Friday it had bought a six per cent stake in Bega, paying $4.95 a share, or a 12 per cent premium on Bega's Thursday closing price. The news of Fonterra's $46 million share buy-up sent Bega shares to a record high of $4.94, before closing at $4.83, up 42 cents, or 9.5 per cent.

Australian bond futures prices are weaker as a slight jump in Chinese manufacturing activity failed to move the market. Investors also appear to be holding their positions ahead of next week's release of Australian unemployment and retail sales data, JP Morgan interest rate strategist Sally Auld said.

Jonathan Moylan, 25, appeared in the Supreme Court in Sydney on Friday where he pleaded not guilty to a charge of disseminating false material likely to induce people in Australia to dispose of Whitehaven shares. Last January, the Newcastle-based activist allegedly sent a press release to media outlets claiming ANZ Bank had withdrawn a $1.2 billion loan from Whitehaven's Maules Creek open cut coal mine on ethical grounds. Moylan was initially expected to face the District Court, but prosecutors successfully applied to have him tried in the Supreme Court. Moylan is supported by environmentalist groups who have accused Whitehaven of planning to destroy 1360 hectares of koala habitat and forcing farmers off their land through soil damage from its flagship Maules Creek project in north-western NSW.

Stocks to watch on the Australian stock exchange at close on Friday: APN - APN NEWS & MEDIA - down 0.5 cents, or 1.1 per cent, at 46 cents APN News & Media is seeking Commerce Commission clearance to sell ...

Some familiar themes exercised the minds of Australia's market economists this week. It was a speech from Reserve Bank of Australia governor Glenn Stevens that got the ball rolling. The speech, a short one by his standards (although it could be argued that they always seem longer than they really are) dwelt longer than usual on the Australian dollar.

The share market has ended the week with a fall, as resources and industrial stocks lost ground. At the close on Friday, the benchmark S&P;/ASX200 index was down 14.4 points, or 0.27 per cent, at 5,411.1, ...

Australian capital city house prices are rising at their greatest pace in three years. Mid-level properties are making the most gains, with Sydney by far the fastest growing market. House prices in Australia's capital cities rose by an average of 1.3 per cent in October, although Perth, Hobart and Canberra went backwards. The 7.9 per cent annual growth pace was the fastest in three years, as the median capital city house price rose to $511,000, research from RP Data-Rismark shows.

If the fancy Christmas puddings are out of stock at your local Coles, it may be the fault of Wesfarmers boss Richard Goyder. Mr Goyder, whose Wesfarmers conglomerate owns Coles supermarkets, sang the praises of the festive treats made for Coles by Newcastle-based Pudding Lane while addressing an American Chamber of Commerce lunch in Sydney. Pudding Lane hand-make the 90 tonnes of traditional, boiled Christmas pudding supplied to Coles, Mr Goyder said.