Greame McDowell leads the field after the first day at the Volvo Masters in the southern Spanish city of Cadiz as Australia&aposs Peter O&aposMalley finds himself just two strokes off the pace. McDowell carded six birdies and three bogeys in his three-under 68 first round at the Club de Golf Valderrama course, but it was two consecutive birdies on the 16th and 17th holes that lifted the Englishman into the lead after the first round. One stroke further back is Irishman Paul McGinley, who finished his round confidently with an eagle on 16, while O&aposMalley and England&aposs Justin Rose are tied for third on one-under. O&aposMalley posted four birdies and three bogeys in his round, but it was a final hole bogey which prevented the Aussie from moving into second or even the lead. He is currently alongside Rose, who managed a sensational hole-in-one eagle on the par three third hole. Australia&aposs other entrant in the tournament, Brett Rumford, is further down the leaderboard, having posted a two-over 73 on the first day. First round of the Volvo Masters: -3 Graeme McDowell 68 -2 Paul McGinley 69 -1 Peter O&aposMalley (Australia) 70, Justin Rose 70 E Ross Fisher 71, Padraig Harrington 71, Raphael Jacquelin 71 +1 Luke Donald 72, Anders Hansen 72, Martin Kaymer 72, Colin Montgomerie 72 +2 Robert-Jan Derksen 73, Thongchai Jaidee 73, Miguel Angel Jiminez 73, Soren Kjeldsen 73, Jyoti Randhawa 73, Brett Rumford (Australia) 73, Anthony Wall 73 +3 Simon Dyson 74, Gonzalo Fdez-Castano 74, Oliver Wilson 74, Yong-eun Yang 74