Australia

Japan's main equity market surged to a five-year high on the first day of trading after the country's Golden Week public holiday.

INFRASTRUCTURE

Australia's central bank has cut its benchmark interest rate to 3% in order to counter a slowdown in its mining sector.

Shares in Standard & Poor's parent group McGraw-Hill have slumped after an Australian court ruled S&P's AAA ratings misled investors during the financial crisis.

Top UK equity income managers have been cutting their weighting in tobacco stocks as concerns over earnings momentum and new rules on plain packaging put pressure on share prices.

AUSTRALIA

BIG INTERVIEW

The euro has fallen below the $1.30 barrier against the dollar, as Sunday's European election hangover continues to unsettle investors.

Société Générale strategist Albert Edwards has warned investors who own Australian government debt they face the 'mother of all hard landings' if China's economy slows down as they expect.

ENERGY