Australia & New Zealand News
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The Australian and New Zealand dollars headed for second-straight weekly gains before Group of 20 finance ministers meet in Paris today to discuss ways to keep Europe’s debt crisis from harming global growth.
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Gold’s biggest slump in three years means traders and analysts are now the most bullish in three months, speculating that Europe’s debt crisis, slowing growth and a bear market in equities will drive demand for bullion.
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The Indonesia Stock Exchange plans to reintroduce stock-option trading next year to lure investors as it aims to double market capitalization by 2015, according to a director at the bourse.
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Oil rose in New York, heading for a second weekly gain on speculation Europe may contain its debt crisis and that the U.S. economy will recover, bolstering demand for raw materials.