The Australian market opened firmer on Thursday as Wall Street ended its losing streak overnight. The broader All Ordinaries Index rose 0.57 per cent shortly after the opening bell.
Australian market this morning opened in red led by consumer staples, which lost 2 per cent. Both materials sector and metals and mining sector dropped 1.1 per cent in early trade. The benchmark S&P/ASX200 Index was down 0.67 per cent, while the broader All Ordinaries Index fell 0.59 per cent.
Australian shares opened marginally lower following Wall Street's weak lead. Investors continued to place focus on the local news while the earnings season entered the final stage. The Australian dollar also opened lower on Monday over the federal election uncertainty. The local unit was trading at 88.63 US cents, down 0.44 per cent from Friday's close of 89.03 US cents.
The Australian shares opened slightly lower on Thursday despite Wall Street's positive lead. The focus of the local market continued to be the company earnings reports. In early trade, both the S&P/ASX200 index and the All Ordinaries fell 0.1 per cent.
Australian stocks opened higher on Wednesday after Wall Street rallied on encouraging economic data and positive quarterly earnings from retail giant Wal-Mart (NYSE:WMT). Metals and oil were all trading higher on Tuesday.
The Australian market opened flat on Tuesday, following mixed leads from offshore markets overnight. In early trade, the S&P/ASX200 index fell 0.1%, to 4433.8 points and the All Ordinaries index slipped 0.1%, to 4462.3 points.
The Australian share market opened lower after receiving negative leads from overseas over the weekend. Last week, Wall Street fell for four consecutive days and most metals and oil prices were lower.
