Yesterday the Australian shares closed lower. The benchmark S&P/ASX200 index ended 52.4 points, or 1.4%, lower at 3683.3, while the broader All Ordinaries shed 56.4 points, or 1.53%, to 3624.0. The market is pessimistic about the company earnings ahead both in Australia and abroad as investors get prepared for the news that would bring some unpleasant surprises.
Yesterday offshore markets helped lift the Australian share market to a two-month high. Investors started to return as they were increasingly confident that the market may have passed the worst situation. The benchmark S&P/ASX200 index was up 37.0 points, or 0.99 per cent, at 3,779.7, and the broader All Ordinaries index added 39.0 points, or 1.06 per cent, to 3,728.2. The weaker commodities prices and performance of US stocks may send the local market down.
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.
Augsburg-based engine builder MAN Diesel (FRA:MAN)(PINK:MAGOF) has further expanded its turnkey diesel power business. The company has awarded a contract from Fideicomiso Garabito, a trust created by Costa Rica's state-owned electric power utility Grupo ICE (Instituto Costarricense de Electricidad) and Banco de Costa Rica (BCR).
Yesterday Australian shares closed slightly higher after staging a late-afternoon rally as Washington promised to shore up Citigroup. Miners surged while banks pared their losses. The benchmark S&P/ASX200 index rose 0.25%, or 8.6 points, to close at 3425.1, while the All Ordinaries index was up 0.1%, or 1.9 points, at 3388.8. Analysts anticipate the markets a stronger performance with the good news.
The December Share Price Index futures contract on the Sydney Futures Exchange was up 144 points, or more than 4%, at 3600 in recent trading.
Wridgways Australia Limited (ASX: WWA), Australia's only listed relocation services company, today announced a record after-tax profit of A$5.850 million for the year to 30 June 2007, an increase of 35 per cent over FY2006. Revenue increased by 10 per cent to a record A$113.0 million.
WestNet Rail will today present a proposal to develop a combined rail infrastructure solution for the various iron ore projects being developed in the Mid West region of Western Australia.
