And checking commodities, spot gold is near record levels. Tapis crude is steady, and so is West Texas crude oil.

 

Australian house values have suffered their biggest falls since 1999. A closely-watched survey by RP Data and Rismark shows capital city house prices dropped 2.1 per cent during the March quarter. On a monthly basis, city values were down 0.2 per cent in March, while house prices outside of the major cities rose 0.2 per cent. The authors of the report are expecting the weak conditions to persist into next year.

 

And the former general manager of Pan Pharmaceuticals has launched a claim for $1 million in damages over his sacking eight years ago. Pan was liquidated in 2003 after the Therapeutic Goods Administration suspended its licence and ordered a recall of more than 200 products. John Brennan's contract was terminated by the Pan board, and he's now seeking leave to sue the liquidator McGrath Nicol over what he says was his wrongful dismissal. McGrath Nicol says the doctor had only 14 days to make such a claim, but his lawyers will argue it's taken a long time to access the necessary documents.