Crown Resorts Ltd

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 shares posted a modest gain as the market saw the rising oil prices and increased optimism about the outlook for commercial banks. The benchmark S&P/ASX200 index rose 18 points, or 0.54 per cent, at 3345.5, while the broader All Ordinaries index was 15.9 points higher, or 0.48 per cent, to 3297.4.

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 Australian shares closed lower as almost all sectors were down. The benchmark S&P/ASX200 index was down 35.2 points, or 0.98 per cent, at 3556.2, while the broader All Ordinaries index was down 36.8 points, or 1.04 per cent, at 3,498.9 points. Telecom sector continued to lose on Telstra's failure to submit an adequate tender for the national broadband network.

Australian stocks ended flat for a second day after an early rally sparked by Babcock & Brown's winning of a reprieve from bankers loses steam. Yesterday, the benchmark S&P/ASX200 share index ended little changed for a second day running, giving up just 1.4 points to 3542.4, while the All Ordinaries index ended down 0.2%, or 8.4 points, at 3468.1. Earlier, the indexes climbed about 2%. It is anticipated that the energy and mining sectors will plunge after the commodities price lowered with poor outlook and concerns over companies' ability of debt refinancing in a short term may weigh on the stocks.