The Australian share market posted a strong gain boosted by banks and miners on Tuesday after good lead from European markets and Wall Street. At the close, the benchmark S&P/ASX200 index was up 69.1 points, or 1.49 per cent, at 4704.2 points, while the broader All Ordinaries index surged 64.9 points, or 1.39 per cent, to 4724.4.
The Australian sharemarket ended slightly lower on Monday after a positive start driven by a resources sector buoyed by higher commodity prices. The pullback was led by major banks, and consumer staples. At close, the benchmark S&P/ASX200 index was down 6.4 points, or 0.14 per cent, to 4644.1, while the broader All Ordinaries gave up 6.1 points, or 0.13 per cent, at 4665.8.
The Australian share market closed lower on Friday hit by National Australia Bank and Telstra. At close, the benchmark S&P/ASX200 index fell 19.8 points, or 0.42 per cent, to 4650.5 while the broader All Ordinaries lost 17.7 points, or 0.38 per cent, at 4671.9. The Australian dollar fell to a fresh 10-week low on Friday and closed at US$0.8888.
The Australian share market lost much of its early gains after NAB's surprise bid for the local and New Zealand assets of AXA Asia Pacific Holdings. Woodside's capital raising also gave the market a pullback. At the close, the local market was slightly higher. The benchmark S&P/ASX200 index closed up 8.4 points, or 0.18 per cent, at 4670.3 points, while the broader All Ordinaries index gained 13.5 points, or 0.29 per cent, to 4689.6 points.
The Australian sharemarket gave up early gains on Wednesday after the GDP figures released by Australian Bureau of Statistics showed a disappointing result in economy growth. At the close, the benchmark S&P/ASX200 index was 11.6 points lower, or 0.2 per cent, at 4661.9, while the broader All Ordinaries slashed 11.7 points, or 0.2 per cent, at 4676.1
The Australian sharemarket Tuesday closed higher in a quiet trading day as Dubai debt fears eased. The local market was also inspired by an earlier report about energy giant Exxon's US$30 billion takeover bid of XTO and the forecasts by the Australian government commodity forecaster ABARE for iron ore and coking coal exports. At the close, the benchmark S&P/ASX200 index rose 19.5 points, or 0.4 per cent, at 4673.5, while the broader All Ordinaries gained 19.6 points, or 0.4 per cent, to 4687.8.
Dubai yesterday said it had received US$10 billion in financing from Abu Dhabi to pay part of the debt held by Dubai World and its property unit Nakheel. The news prompted the Australian market into positive territory in late trade. At the close, the benchmark S&P/ASX200 index rose 0.4 per cent, at 4654, after earlier falling as low as 4608.3. The broader-based All Ordinaries index climbed 16.8 points, or 0.4 per cent, to 4668.2.
