Rio Tinto Limited

Yesterday, the Australian share market closed weaker across the board as the big miners and most of the banks fell. On Thursday the benchmark S&P/ASX200 index slid below the key 5000 mark, losing 80.5 points, or 1.59%, to 4979.5, while the broader All Ordinaries lost 79.6 points, or 1.55%, to 5050.9. Analysts says today investors face a day of turmoil as Wall St slumped overnight on renewed concerns about the economy with reports showing retail sales and employment are weakening.

Yesterday the Australian share market was dragged down by a 6% fall in Rio Tinto and broad-based weakness across the resources sector on falling commodity prices and a weak US lead. The benchmark S&P/ASX200 was down 56 points, or 1.1%, to 5060, while the broader All Ordinaries had lost 64.5 points, or 1.2%, to 5130.5.

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 slightly lower following weaker commodity prices. The benchmark S&P/ASX200 index was down 17.3 points, or 0.34%, to 5118.3, while the broader All Ordinaries index fell 15.5 points, or 0.3%, to 5200.

The Australian share market closed firmly in the black on last Friday, driven by a resurgent resources sector after the commodities index posted its biggest weekly gain in 33 years. US stocks rose on Friday as financial stocks gained and a plunge in oil prices soothed worries about inflation and consumer spending.

The Australian stock market may rise slightly after oil continued to slide, and transport and consumer related stocks may firm on the back of further fall in oil prices.

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.

Yesterday, the Australian share market was 3.5 per cent higher to post its biggest single-day rise in almost four months as bargain hunters snapped up banks, property trusts and miners.

Last night Wall Street led on easing concerns about a credit crisis, but gains are likely to be tempered by declines in mining and oil companies after oil, gold and base metals prices fell.

The Australian share market is expected to open lower today after Wall St fell over one per cent on Friday. On the Sydney Futures exchange, the September share price index futures contract lost 74 points, or 1.49 per cent, to 4,880.
The Australian share market rose 0.9 per cent on Friday as resource stocks, led by gold and oil companies, surged on higher commodity prices and the banks pared early losses.