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Asciano Group
ASX:AIO ISIN:AU000000AIO7
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News
Wall Street closed mixed on Monday ahead of the Federal Reserve's monetary policy meeting. The Federal Reserve is widely expected to leave the near-zero interest rate unchanged, but may begin scaling back some economic stimulus. Traders moved into technology and health care shares amid concerns the energy, materials and financials were overbought.
Wall Street overnight ended the losing streak and edged higher after the better-than-expected retail sales data. The good sales data in August to some extent eased the concerns over the key US employment gauge which is scheduled to release on Friday.
Overnight Wall Street was up on economic data, positive earnings and the nomination of Federal Reserve chief Ben Bernanke to serve a second term. The Conference Board's August index of consumer confidence rose for a second month, exceeding economists' forecast.
Wall Street finished mixed overnight. Dow and S&P 500 indices ended their rising streak while Nasdaq posted its 11th straight rise led by Apple and Yahoo. Investors started to lock in their profits from a series of rallies driven by earnings reports.
Australian stocks surged massively yesterday following a rally on Wall Street. The benchmark S&P/ASX200 jumped 129.6 points, or 3.5 per cent, at 3867.1, while the broader All Ordinaries rose 120.8 points, or 3.2 per cent, to 3858.8 points. The gains in overseas markets are likely to continue bolstering the Australian shares as the US earnings reports released in the first week restored some market confidence.
Last Friday, the Australian shares ended higher for the first time in a week. The benchmark S&P/ASX200 index gained 7.5 points, or 0.19 per cent, to 3,899.6 points, and the broader All Ordinaries index advanced 7 points, or 0.18 per cent, at 3894.4 points.
The Australian share market on Tuesday fell for a second session dragged by lower commodities prices. The benchmark S&P/ASX200 index finished 69.2 points, or 1.72 per cent lower, at 3962.5 while the broader All Ordinaries index plunged 72.5 points, or 1.8 per cent, to 3,957.9 points.
The Australian market was slightly up on Friday fuelled by resources stocks. The benchmark S&P/ASX200 index closed up 15 points, or 0.37 per cent, to 4062.2, while the broader All Ordinaries index gained 14.8 points, or 0.37 per cent, to 4061.5. The local market has received negative lead from weaker commodities prices. Investors may look towards profit guidance while there could be limited company news scheduled this week.
The Australian share market closed lower. The benchmark S&P/ASX200 index was down 82.6 points, or 2.06 per cent, at 3934.6, while the broader All Ordinaries index fell 76.8 points, or 1.92 per cent, to 3932.5. Resources stocks will benefit from the rise in commodities prices, but could be weighed down by the failure of investment deal between Rio Tinto and Chinese government backed Chinalco.
The Australian shares ended marginally higher last Friday. The benchmark S&P/ASX200 index was up 3 points, or 0.1%, to 3941.7, while the broader All Ordinaries Index rose 7.5 points, or 0.2%, to 3919.6.
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