Commonwealth Bank of Australia

Yesterday the Australian market closed slightly lower led by Rio(ASX:RIO) and BHP(ASX:BHP), although metals prices were higher on the dropping of US dollar and rising Chinese imports. The benchmark S&P/ASX200 index closed down 26 points, or 0.73%, to 3531.4, while the broader All Ordinaries index fell 24.1 points, or 0.69%, to 3468.2.

On Friday, the Australian market closed marginally higher with rise on most sectors except energy stocks. The benchmark S&P/ASX200 index gained 34.5 points, or 0.96 per cent, at 3,615.7, while the broader All Ordinaries index rose 25.5 points, or 0.72 per cent, to 3,547.2. Low trading volumes are expected this week.

Yesterday the Australian stock market closed marginally higher despite a big lead from United States markets. The banking sector was pulled down by Commonwealth Bank as it tried to sell shares to institutional investors for A$2 billion capital raising. The benchmark S&P/ASX200 index had gained 14.4 points, or 0.4 per cent, to 3570.6 points, while the broader All Ordinaries index was up 16.1 points, or 0.46 per cent, at 3515.0 points. Commonwealth Bank's termination of the share placement and rising bad debts has hit the confidence of the banking sector.

Yesterday Australian shares closed lower as almost all sectors were down. The benchmark S&P/ASX200 index was down 35.2 points, or 0.98 per cent, at 3556.2, while the broader All Ordinaries index was down 36.8 points, or 1.04 per cent, at 3,498.9 points. Telecom sector continued to lose on Telstra's failure to submit an adequate tender for the national broadband network.

Yesterday Australia's share market closed higher after surge in the mining sector. The benchmark S&P/ASX200 index yesterday ended 36.4 points or 1% higher at 3640.7, while the broader All Ordinaries was up 39.6 points, or 1.1%, at 3,573.3. The stronger commodity prices for gold and oil overnight may further buoy the stocks market which has been oversold.

Yesterday Australian market closed lowered as banks stocks plunged after Westpac(ASX:WBC) announced its A$2.5 billion capital raising. The benchmark S&P/ASX200 index had lost 27.3 points or 0.75 per cent to 3604.3, while the broader All Ordinaries was down 20.1 points or 0.57 per cent at 3533.7. Analysts expect more companies such as Commonwealth Bank(ASX:CBA) may also have to raise capital.

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.

The Australia share market closed marginally weaker after a 75 basis point interest rate cut by the RBA boosted the bourse back from earlier sharply lower levels. The deep cut mirrors RBA's worry about the domestic and global economic outlook. Analysts said the Australia market may have hit the bottom last week at about 3600 points, and the Democratic win in the US election will also give a positive lead to the Australia market.

Overnight US stocks rallied and commodity gained after the Federal Reserve's chairman backed more government spending to help the economy and credit market conditions showed further signs of improvement.

Yesterday, the Australian share market ended almost 4% higher in its best two-day gain since 1975, adding $42 billion to the value of stocks listed in the All Ordinaries index. As confidence was buoyed, investors rushed back to the big miners and banks and pushed the two-day rally to 9% in total. The benchmark S&P/ASX200 index was up 154.5 points, or 3.7%, at 4335.2, while the broader All Ordinaries index gained 169.6 points, or 4.09%, to 4311.5.