Australia and New Zealand Banking Corporation

Yesterday the Australian shares ended flat as weaker Commonwealth Bank and energy stocks weighed on the market. The benchmark S&P/ASX200 index was up 10.6 points, or 0.3 per cent, at 3,581.2, while the broader All Ordinaries index gained 6.7 points, or 0.19 per cent, to 3,521.7. It could be fairly quiet during the pre-Christmas sessions. But the local market may be hit by the dropping commodities prices and the fears on US auto industry as US government has admitted that orderly bankruptcy can be one of the options for the troubled automakers.

Yesterday the Australia market closed lower dragged by resource sector although the central bank's aggressive rate cut of 100 basis points lifted some sentiment in late trading. The benchmark S&P/ASX200 index closed down 153 points, or 4.16 per cent, at 3,528.2, while the broader All Ordinaries index was 145.6 points, or 4.02 per cent, lower at 3,473.4. Analysts anticipate a rise today in local market with positive lead from the US and the RBA rate cut.

On Wednesday, Australian stocks fell again following a weak Wall Street lead, losing almost all of the gains from previous day. It was hurt by a fall in resources stocks on global recession fears and by disappointing US company earnings that stoked worries about the outlook for profit growth.

Overnight the Wall St took a dive on grim economic news pointing to weaker growth and profits in the year ahead, with Dow Jones Industrial Average fell 7.87% for its biggest percentage loss since October of 1987. The US Federal Reserve's snapshot of business conditions said economic activity was weaker across all 12 districts in September and consumer spending fell in most regions.

Yesterday, the Australian share market closed at a fresh three-year low, plummeting 5% as the continuing fallout from the global credit crisis wiped A$56 billion from the value of stocks. The benchmark S&P/ASX-200 share index lost 5% yesterday, the biggest one-day fall for both major stock exchange indices since January 22 this year. RBA has said the Australian economy is slowing faster than originally anticipated. Analysts said the sell-off is totally unemotional. Markets across Asia also slumped with 5-10% drop in Tokyo, Hong Kong, Singapore, Mumbai and Jakarta.

Yesterday the Australian sharemarket closed lower for the third consecutive day on concerns that Wall Street's latest banking woes would hit Australia. The four major banks deducted the most from the index with their major losses of more than 3% following Lehman Brothers' announcement overnight in New York of asset sales.
Yesterday, the benchmark S&P/ASX200 fell 91.2 points, or 1.85 per cent, to 4,814.3, while the broader All Ordinaries shed 89.9 points, or 1.81 per cent, to 4,871.5.

The Australian share market fell yesterday. The benchmark S&P/ASX200 index was down 87.4 points, or 1.75%, to 4980.1, while the broader All Ordinaries gave up 84.4 points, or 1.67%, to 5041.9. The resource stocks dropped again, with the commodity prices down.

Yesterday, the Australian share market closed slightly weaker despite a cut to official interest rates and a drop in the oil price. The benchmark S&P/ASX200 was down 2.3 points, or 0.04 per cent, to 5,116, while the broader All Ordinaries fell five points, or 0.1 per cent, to 5,195. The Australian stock market may continue the decline today with US equities and commodities down overnight.

Yesterday, the Australian share market closed more than two per cent lower, dragged down by the resource and financial sectors and a weak lead from Wall Street. Banks and financials reacted poorly to news regarding troubled US mortgage lenders Fannie Mae and Freddie Mac.

Yesterday the Australian share market closed weaker on lower base metal prices and a profit downgrade by Lend Lease Corporation. The benchmark S&P/ASX200 index had fallen 16.3 points, or 0.33%, to 4887.7, while the broader All Ordinaries index lost 20.4 points, or 0.41%, to 4957.6.