Yesterday the Australian shares ended higher led by banking sector. The benchmark S&P/ASX200 share index gained 1.5%, or 51.5 points, to 3495.5 points. The broader All Ordinaries index gained 1.3%, or 42.8 points, to 3435.1.
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.
In early trade today, the benchmark S&P/ASX200 index had risen as much as 60.8 points, or 1.2%, to 5047.0 with financial stocks leading the way, as the Wall Street lifted more than 302 points on Friday night. Wall Street's rally was a result of a surge in the US dollar and a drop in oil prices, which fell below $US115 a barrel for the first time since May.
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.
Tabcorp Holdings Limited ASX: TAH - Full Year Results for 2006 - Mr Matthew Slatter, Managing Director and CEO
Tabcorp Holdings Limited (ASX: TAH) - Full Year Results for 2006 - Mr Matthew Slatter, Managing Director and CEO; Boardroomradio is pleased to announce that Tabcorp Holdings Limited (ASX: TAH) has published an audio file.