Australian Market Report of June 9: Banking System More Stable
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.