Yesterday Australian shares closed slightly higher after staging a late-afternoon rally as Washington promised to shore up Citigroup. Miners surged while banks pared their losses. The benchmark S&P/ASX200 index rose 0.25%, or 8.6 points, to close at 3425.1, while the All Ordinaries index was up 0.1%, or 1.9 points, at 3388.8. Analysts anticipate the markets a stronger performance with the good news.
The December Share Price Index futures contract on the Sydney Futures Exchange was up 144 points, or more than 4%, at 3600 in recent trading.
Yesterday the Australia share market was buoyed on hope that China's economic stimulus plan would increase demand for resources. Mining and energy sectors rose on the news. The benchmark S&P/ASX200 index gained 56.5 points, or 1.4%, at 4,107.8 while the broader All Ordinaries index had advanced 53.4 points, or 1.3%, to 4,060.
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.
The Australian share market fell 1.5% on Tuesday after a disappointing lead from the US reignited jitters over local financial stocks. Wall St was buoyed by a drop in the oil price and positive consumer confidence data. A survey shows in the US home prices in the 20 large cities declined 0.9 per cent on a monthly basis to May. US stocks rocketed higher as the latest slide in crude oil and news that investment giant Merrill Lynch was taking steps to shore up its finances energised the market.
HARVEY NORMAN HOLDINGS LIMITED The Retail Environment - Gerald Harvey, Chairman; Boardroomradio is pleased to announce that HARVEY NORMAN HOLDINGS LIMITED (ASX: HVN) has published an audio file. The f
