Around the World's Markets: Australia

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THE ALL Ordinaries index ended up just 11.6 per cent at 2,900, with data showing Australia's trade deficit widening in April to a record A$1.9bn countered by Wall Street's gains on Friday. Traders said the deficit reflected lower coal and iron ore prices.

Cable & Wireless Optus, the country's second telecoms group, which is majority owned by the UK's C&W, abandoned its A$1.5bn hostile bid for Australia's third largest telecoms company AAPT after the anti-monopolies watchdog refused to grant clearance.