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Markets Live: UK polls smash pound

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The ASX is set for a wobbly start as investors face the prospects of another shock election in the UK, while the ECB flagged an end to rate cuts.

Anti-terrorism raids in Ascot Vale

Police raid homes in Ascot Vale as part of anti terrorism raids across Melbourne.

A 32-year-old man has been arrested after a number of early morning anti-terrorism raids in Melbourne's north on Friday morning.

Hunt selection puzzles ex-Wallaby Burke

Late starter: Karmichael Hunt will become a dual international on Saturday at the age of 30.

Former Wallabies fullback Matthew Burke has described Karmichael Hunt's selection for Australia's Test against Fiji as a "head-scratcher," saying selectors should have opted for youth.

Seven years after oil spill, BP's rating lifted

A pelican mired in oil from BP's Gulf of Mexico spill.

The agency bumped up the oil giant's rating one notch, citing a strong performance despite oil price volatility and greater fiscal clarity following its $26.5 billion settlement of the deadly 2010 Gulf of Mexico spill.

All Blacks far superior to Super Rugby, says Hansen

Fraying around the edges: The Lions leave the pitch after their loss to the Blues in midweek.

New Zealand coach Steve Hansen, who has named a 33-man squad rich in quality and potency, said that he had yet to detect any X-factor in the Lions and warned Warren Gatland that if he thinks there is little difference between Super Rugby and internationals he is in a for a rude awakening.

8@eight: Exit poll rocks markets

Investors are playing it safe.

Three big events overnight, with the last proving to be the most dramatic, with a shock exit poll from the UK election seeding the pound tumbling. Locally, shares are due for a flat start.

All Blacks skipper Read out of Samoa Test

Frustrating period: Kieran Read.

Injured All Blacks captain Kieran Read has ruled himself out of the season-opening Test against Samoa, leaving him in a race to be fit to face the British and Irish Lions.