business CONFIDENCE was BOOSTED BETS ON A COALITION ELECTION VICTORY and AN INTEREST RATE cut IN AUGUST.

NATIONAL AUSTRALIA BANK'S MONTHLY SURVEY OF OVER 600 FIRMS SHOWS CONFIDENCE SHOT UP TO A READING OF SIX... FROM MINUS THREE IN JULY.

HOPES THE FEDERAL ELECTION WOULD PUT AN END TO POLITICAL UNCERTAINTY - WAS LARGELY BEHIND THE SURGE.

BUT THE SURVEY DID SHOW CONDITIONS WERE WEAK WITH A WORRYING DOWNTURN IN EMPLOYMENT.

ELDERS PLANS TO CUT TEN PER CENT OF ITS WORKFORCE OR ABOUT 150 JOBS.....AS PART OF PLANS TO RETURN TO A PURE AGRIBUSINESS.

ELDERS ALSO EXPECTS A 39 MILLION DOLLAR LOSS BECAUSE OF WEAK LIVE CATTLE EXPORTS.

THE 174-YEAR OLD COMPANY HAS REACHED A DEAL TO EXTEND ITS LOANS UNTIL THE END OF NEXT YEAR.

ELDERS WILL USE THE FINANCING FOR ITS TRADING BUSINESSES....AFTER SELLING ITS CAR AND FORESTRY BUSINESSES.

INVESTORS HAVE WELCOMED...THE MOVES BY ELDERS

SHARES HAVE SHOT UP ALMOST 11 PER CENT

THE MAJOR MINERS AND TELSTRA ARE LEADING THE WAY.

THE AUSTRALIAN SHAREMARKET IS BUILDING ON YESTERDAY'S GAINS...AFTER MORE POSITIVE ECONOMIC INDICATORS OUT OF CHINA

THE ALL ORDS IS UP HALF PER CENT

THE ASX 200 INDEX IS ACROSS THE REGION - TRADE IS POSITIVE AS WELL

JAPAN'S NIKK-AY IS UP ONE-and a half PER CENT

THE AUSTRALIAN DOLLAR TRADING NEAR ITS HIGHEST LEVEL SINCE LATE JULY...

 

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