Australian Economy

Australian Market Report of November 17: Close to the Bottom

🕔11/17/2008 1:00:06 PM

Wall Street slumped on Friday with hedge fund selling in advance of a Saturday deadline. On Friday, the Australian sharemarket reversed its sharp losses of mid week to close up over one per cent following a strong US lead and higher base metals prices. As the G-20 leaders failed to come up with specific stimulus action after their weekend meeting in Washington, analysts expect the market volatility to continue but it would be getting close to the bottom.

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Midday Market Roundup 17/11/2008

🕔11/17/2008 11:54:00 AM

The market has lost most of yesterday's gains – down 94 or 2.2% - on the back of the Wall Street down overnight again. The SFE Futures suggested a 120 point fall this morning. Property Trusts and Resources both underperforming – Healthcare outperforming relatively. BHP Billiton down 5% on back of its less than inspiring 1Q production numbers and is responsible for wiping 22 points off the index on its own.

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G-20 Meets, So What

🕔11/17/2008 8:43:00 AM

The US and European economies sent a far more realistic message last week about the outlook for the global economy than the weekend's Group of 20 meeting of leaders from the globe's 20 largest economies did in Washington.

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Corporates: LLC, IPL, TSE

🕔11/17/2008 8:39:00 AM

Lend Lease CEO, Greg Clarke is leaving the company in June next year, but he reckons the company is in a good position to survive the deleveraging pressures in global and Australian markets.

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Canwest's Bad Earnings News, Write-Downs

🕔11/17/2008 8:37:00 AM

The Ten Network's major shareholder, Canwest Global Communications Corp has reported a fourth-quarter loss of $C1.02 billion ($US834 million) after taking write-downs on its television business.

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DIARY: Watch Macquarie Group

🕔11/17/2008 8:35:00 AM

It's going to be another week where some important economic figures in the US and elsewhere will drive sentiment around the world.

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Australian Market Report of November 14: Uncertain Outlook Despite Wall St Bounce

🕔11/14/2008 1:00:08 PM

Yesterday, Australian shares slumped to their lowest close since October 8, 2004. The benchmark S&P/ASX200 share index plummeted 5.9% to 3697.3. The broader All Ordinaries index fell 211.2 points, or 5.44 per cent, to 3,672.4, its weakest close since October 1, 2004. Analysts said although local stocks may rebound after rise in US stocks and oil price, markets worldwide still have a significant unsettling economic outlook.

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