The share market has closed at a fresh 21-month high, led by health and telecommunications stocks. The All Ordinaries index rose by one point one per cent, to four-thousand-911. The ASX 200 index gained the same amount, to four-thousand-889.

The dollar is strong against most major currencies, a short time ago it was buying 104-point-four-one U-S cents.

The corporate regulator has taken action against Macquarie Private Wealth for what it called "serious compliance deficiencies". ASIC found the company, part of the investment giant Macquarie Group, had lax standards of record keeping and lacked commitment to compliance. A spokesperson for Macquarie says the company is committed to making the necessary changes.

Thousands of insurance claims have already been filed by residents in Bundaberg. Campbell Fuller from the insurance council says it will take time for companies to assess the damage in Queensland and New South Wales.


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