Italy's parliament has said for the first time since elections last month that produced a political deadlock. The centre-left won a majority in the lower house, but not in the Senate. This rattled world markets which had been keen to see a clear winner so the country can continue the task of tackling its economic woes. President Giorgio Napolitano will begin formal consultations with party leaders next week to see if there is any prospect of an agreement being reached. 

 

And when the markets in Europe closed a couple of hours ago, London's FTSE 100 was down, as were the Dax and the Euro. In the US, trading comes to a close shortly. The Dow Jones is trading down, so is the S&P 500. 

 

The Australian dollar is worth one dollar and four US cents. It'll also buy you 69 British pence and one dollar 26 New Zealand.