Finance News Update, what you need to know

Finance News Update, what you need to know

WORLD FINANCE UPDATE:

The Australian dollar remains above 94 US cents on the back of surprisingly strong Chinese manufacturing figures.

At 0630 AEST on Tuesday, the local currency was trading at 94.19 US cents, down from 94.33 cents on Monday.

And the Australian share market looks set to open flat after Wall Street finished little changed following mixed economic data while investors keep watch on continued unrest in major oil-producer Iraq.

At 0645 AEST on Tuesday, the September share price index futures contract was up four points at 5,413.

ELSEWHERE:

PARIS, June 23 AFP - The outlook for the French economy has suffered twin setbacks with official data showing a high payments deficit and a leading survey suggesting output might be shrinking.

BRUSSELS, June 23 AFP - The European Union has outdone the United States to become the world's top exporter of agricultural and food products, says a European Commission report on the global farming market.

RUSTENBURG, South Africa, June 23 AFP - South Africa's five-month strike by platinum miners, the longest in the nation's mining history, is over.

WASHINGTON, June 23 AP - Sales of previously owned US homes in May posted the best monthly gain in nearly three years, providing hope that housing is beginning to regain momentum lost over the past year.

LOS ANGELES, June 23 AAP - Rupert Murdoch's News Corp has continued its sell-off of US newspaper assets.

LONDON, June 23 AFP - Shire Pharmaceuticals has ramped up its defences against a STG27 billion ($A49.28 billion) takeover from US giant AbbVie, outlining plans to more than double sales by 2020.

REDWOOD SHORES, California, June 23 AP - Software maker Oracle is to buy Micros Systems, which provides software and hardware to the hospitality and retail industries, for about $US5.3 billion ($A5.73 billion).


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