The Australian share market lost much of its early gains after NAB's surprise bid for the local and New Zealand assets of AXA Asia Pacific Holdings. Woodside's capital raising also gave the market a pullback. At the close, the local market was slightly higher. The benchmark S&P/ASX200 index closed up 8.4 points, or 0.18 per cent, at 4670.3 points, while the broader All Ordinaries index gained 13.5 points, or 0.29 per cent, to 4689.6 points.

The Australian sharemarket closed marginally lower in light trading yesterday as banks were down on concerns that bad debts could increase after interest rate rise. The benchmark S&P/ASX 200 index gave up 5.9 points, or 0.13 per cent, at 4670.60, while the broader All Ordinaries lost 0.19 per cent to 4686.40 points.

Australian market Monday ended lower in a thin trade led by resources stocks, as commodities prices dropped on a sharp rise in US dollar. At the close, the benchmark S&P/ASX200 index fell 25.7 points, or 0.6 per cent, at 4676.5, while the broader All Ordinaries lost 26 points, or 0.6 per cent, to 4695.2.

US shares fell on Thursday as the services sector index declined unexpectedly in November. The contraction also hurt sentiment ahead of the release of unemployment figure.

US stocks Wednesday climbed to near the peak of the year after Dubai's debt restructuring plan. The market was also supported by the optimism about the upcoming holiday shopping season while retailers Staples and Guess saw positive earnings in third quarter and provided guidance above market expectations.

Dow Jones Industrial Average Friday retreated about 1.5 per cent on concerns over the problem of Dubai World. But European shares reversed earlier sharp losses due to some bargain hunting buying.

US stocks fell for the second day after a downgrade of technology companies such as Intel. Energy and materials shares also showed losses as commodities prices tumbled.

Wall Street closed slightly higher overnight on a round of buying in energy and materials companies. But more stocks fell than rose as retailers such as Target and Home Depot's disappointing holiday spending outlooks raised concerns over the strength of recovery.

US stocks overnight closed at a new high for the year as the G20 finance ministers and central bankers pledged to keep stimulus measures until a recovery was certain. Dow jumped more than 200 points for the session, with 29 of the index's 30 components finished in the green.

Insto's Foreign Exchange Conference 2009 will be held at Sydney's Westin Hotel on Tuesday 10th of November. Registration is free for all institutional funds and corporate representatives along with all subscribers to Insto.