WORLD FINANCE UPDATE:
The Australian dollar has retraced some of its losses made after expectations of a November rate cut increased following the Commonwealth Bank's interest rate hike.
At 0630 AEDT on Friday, the currency was trading at 72.11 US cents, up from 71.96 cents on Thursday.
And the Australian share market looks set to open higher after US and European shares lifted on raised expectations the European Central Bank may announce more economic stimulus following a December policy stance review.
At 0645 AEDT on Friday, the December share price index futures contract was up 82 points at 5,314.
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WASHINGTON - New claims for US unemployment insurance benefits held near a 42-year low last week, adding evidence to beliefs that the US job market is tightening.
WASHINGTON - The US housing market, a bright spot in the economy, showed resilient growth in September as existing-home sales rebounded even as tight supply and rising home prices curb demand.
MADRID - Spain's jobless rate has fallen to a four-year low, official data shows, giving Prime Minister Mariano Rajoy's conservative government a boost in its hard-fought battle to retain power in December elections.
LONDON - Despite resource shares being under pressure, BHP Billiton remains "robust and resilient" chairman Jac Nasser has told the company's AGM in London.
RIO DE JANEIRO - Brazilian mining giant Vale, the world's largest iron ore producer, has reported a sharp drop in third quarter earnings despite cost-cutting, in a reflection of the global economic slowdown and Brazil's currency depreciation.
NEW YORK - McDonald's has reported higher third-quarter earnings on better US sales and said the strong results were evidence the company was making progress on its turnaround.
