Stocks in Europe and the US rallied overnight, with a big jump in US housing starts, good German business confidence and a healthy appetite for Spanish debt.

Worries over the fate of the euro and the EU's member states continue to drag on the single currency and equities in Europe and on Wall Street.

The euro has fallen to an 11-month low versus the US dollar and global equities are extending losses on Wall St.

There was not much Christmas cheer from the Reserve Bank today but no Grinch in evidence either.

Stocks were mixed overnight as investors weighed a round of warnings by credit rating agency Standard & Poor's in two days that would boost borrowing costs throughout the euro zone.

World share markets are down, with worries about Europe overwhelming good economic data from the US.

Stocks on both sides of the Atlantic dropped, as did the euro, after investors demanded the highest yield since 1997 to buy Italian debt and Spanish bonds hit the radar.

Wall St advanced overnight as investors focused on some positive news from the home front, including better-than-expected jobless claims data and Cisco Systems earnings.

Markets fell overnight on both sides of the Atlantic as Italy's borrowing costs soared, intensifying concern that efforts to contain the European Union's debt crisis aren't working.

Equities on both sides of the Atlantic have started the week in the red as Greece agreed to form a new government and Italy's Prime Minister Silvio Berlusconi denied reports he planned to resign.

Stocks on Wall St and in Europe rose after an unexpected interest rate cut by the European Central Bank and the vote backdown from the Greek PM.

World sharemarkets dropped overnight after the Greek Prime Minister sought to silence critics by unexpectedly calling for a referendum.

Wage increases accelerated in the last quarter, but is still soft enough to keep the Reserve Bank from hiking interest rates anytime soon. The labour cost index rose 0.6 percent in the last...