Yesterday the Australian shares ended modestly higher despite a strong lead overseas. The market in late trading gave up some of its early gains as investors started to pocket their profits in recent rallies. The benchmark S&P/ASX200 index was up 0.8%, or 29.7 points, at 3580, while the broader All Ordinaries index rose 1%, or 34.2 points, at 3517.3. Today resource stocks may decline after metals prices fell.
Yesterday the Australian shares surged on hope of the US bailout plan to remove bad debts from banks. The benchmark S&P/ASX200 index ended 2.4% higher, or 84.5 points at 3550.3, a six-week high, while the broader All Ordinaries index was up2.3%, or 78.1 points, at 3483.1. Investors are getting more confident to return to the stocks market as they believe it has hit the bottom. But analysts warned that fundamental issues in economy have not been solved and it will not be a long term rally although the market is in the third week of rises.
On Friday the Australian stocks posted a strong gain with financial sector soaring 5.3%, capping the best week for the market in three months. The benchmark S&P/ASX200 index ended 3.4% higher, or 109.7 points, at 3345.2, while the broader All Ordinaries index was up 3.3%, or 104.3 points, at 3294.7. The ASX200 rose 6% for the week. But analysts say that it is too early to say the bear markets end, although the US banks delivered turnarounds.
Yesterday the Australian market proved defiant and held its ground despite massive falls in the US, according to CMC Markets. Interestingly, the share market didn't react too much to the interest rate decision.
Yesterday the Australian stocks closed lower on all sectors. The benchmark S&P/ASX200 lost 51.1 points, or 1.48 per cent, at 3,413.2, while the broader All Ordinaries dropped 45.3 points, or 1.33 per cent, to 3,366.9. The local market has fell 4.1% so far this week, and the shares may see a further drop after base metal and oil prices lower.
Yesterday Australian shares plunged sharply, dragged by financial stocks as investors feared the UK banks might need to raise more funds. The unfavorable corporate earnings results also weighed down the market. The benchmark S&P/ASX200 was down 1.5%, or 52.6 points, to 3464.3, while the broader All Ordinaries index lost 1.4%, or 49.1 points, to 3412.2.
Yesterday the Australian share market weathered the bad lead from Wall Street and ended with a modest drop. The benchmark S&P/ASX200 index closed down 0.4%, or 14.3 points, at 3474.4, while the All Ordinaries fell 0.3%, or 10.5 points, at 3418.1. Today traders are expecting Rio Tinto's earnings report with a profit increase and details of the talks with Chinalco over the A$30 billion cash injection deal.
Yesterday the Australian shares closed higher led by banks and the resources sector. The benchmark S&P/ASX200 index rose 38.7 points, or 1.12 per cent, at 3508.6, while the broader All Ordinaries gained 38.3 points, or 1.12 per cent, at 3445.8. The market is expected to be quiet when investors await the details of the US rescue plan.
Yesterday the Australian stock market ended the day lower, led by financial stocks, on renewed worries about banking industry worldwide. The benchmark S&P/ASX200 index was down 1%, or 33.8 points, at 3442.8, while the broader All Ordinaries index was lower by 0.9%, or 30.2 points, at 3394.8. Regulator ASIC's move to extend a ban on covered short-selling of financial securities would give a positive lead to the banking industry.
Yesterday, the Australian shares closed lower as investors were leaving the market before Christmas. On Monday, the benchmark S&P/ASX200 index was down 58.3 points, or 1.61%, at 3557.4 points, while the broader All Ordinaries index was 54.9 points, or 1.55% lower, at 3492.3 points. Analysts said the loss was larger than expected, and the negative news from the world markets would impact on the local market.