Briefs

Rise spooks buyers

The home loans market contracted by 11.5 per cent last month after buyers were spooked by the first interest rate increase in 19 months, the mortgage broker AFG said. It said it arranged $2.6 billion in mortgages, down from $2.9 billion in September.

GUIDANCE

Breville upgrade

The electrical goods importer and distributor Breville Group has upgraded its full-year earnings guidance from $17.8 million to $19 million and commissioned an independent expert to assess the $322 million takeover bid for the company from GUD Holdings.

AUCTION

Madoff sale

Hundreds of pieces of jewellery, clothing and other personal items of the disgraced financier Bernard Madoff and his wife Ruth are to be auctioned. They range from a baseball jacket to a Rolex watch worth up to $US87,500 ($93,995).

MINING

BC gets agreement

The iron ore explorer BC Iron and its joint-venture partner Fortescue Metals Group have secured $US50 million ($54 million) in an off-take agreement for their Nullagine joint venture, which involves the supply of 20 million tonnes of iron ore over the next 8 years.