On Friday, the Australian market closed higher, lifted by the news of a massive joint venture between mining giants BHP Billiton and Rio Tinto after Rio scrapped the takeover deal with Chinalco. The benchmark S&P/ASX200 index was up 36.6 points, or 0.93 per cent, at 3971.2, while the broader All Ordinaries index gained 36.5 points, or 0.93 per cent, to 3969.0 points. Today the local market could be hit by lower commodities prices.
The Australian share market closed lower. The benchmark S&P/ASX200 index was down 82.6 points, or 2.06 per cent, at 3934.6, while the broader All Ordinaries index fell 76.8 points, or 1.92 per cent, to 3932.5. Resources stocks will benefit from the rise in commodities prices, but could be weighed down by the failure of investment deal between Rio Tinto and Chinese government backed Chinalco.
The Australian market rose through the 4,000 level on Wednesday, led by property stocks as data showed the economy had avoided a recession. The benchmark S&P/ASX200 surged 61.9 points, or 1.56 per cent, to 4,017.2, while the broader All Ordinaries was 61.2 points, or 1.55 per cent higher, at 4,009.3.
Yesterday the Australian share market was bolstered by favorable local and overseas economic data. The benchmark S&P/ASX200 index gained 60.9 points, or 1.56 per cent, to 3955.3 points, while the broader All Ordinaries index surged 60.2 points, or 1.55 per cent, at 3948.1 points.
The Australian shares were broadly higher. The benchmark S&P/ASX200 rose 76.4 points, or 2 per cent, at 3894.4, while the broader All Ordinaries gained 74.6 points, or 1.96 per cent, to 3887.9 points. Besides the strong lead from Wall Street, the rising commodities prices may also push up the market today.
The Australian share market ended higher on Friday, led by banking stocks. The benchmark S&P/ASX200 index rose 62.4 points, or 1.66 per cent, to 3,818.1, while the broader All Ordinaries index gained 59.4 points, or 1.58 per cent, to 3,813.3.
The Australian share market closed lower with a broad-based selling off after Wall Street's tumble. The benchmark S&P/ASX200 index slumped 45.4 points, or 1.2 per cent, at 3755.7, while the broader All Ordinaries index lost 41.4 points, or 1.1 per cent, to 3753.9.
