The big story on the market today was Linc Energy - which just sold some of its tenements for $1.5B, to be paid over the next seven months.  That payment equates to $4.67 per share.  LNC closed at $4.35, which (even after factoring in some risk that Xinwen ) means that you get the rest of the business for nothing.

The rest of the market is tanking though, US unemployment is at 6.1% now, and the Dow is currently down 127.  Based on most recent earnings, everything's looking a total bargain.  That'll probably change, though.  Ring-a-ding-ding, cash is king.

All Ordinaries: 5143  +56

$140M payout from ALL after dodgy reporting [The Australian]

More bad news on UK housing [Bloomberg]

ANZ to cut rates 30-50 points [SMH]

Australian and New Zealand signs FTA with ASEAN [SMH]