Sydney, July 10, 2007 (ABN Newswire) - Australian shares could hit a fresh all-time high on Tuesday, following a firmer finish on Wall Street, while mining firms may get a boost from stronger base metal prices. Investor's focus will be on Australia's largest supermarket chain, Woolworths which will unveil its fourth quarter and full-year sales figures today. We'll bring you that information in our later reports.
Turning to the markets, On Monday, the ASX was up 50 points finishing at a record 6,401. On the futures market the SPI200 is up 19.
To currencies, the Australian dollar rose to an 18-year high against the US currency in early offshore trade on firmer base metal prices and demand for high-yielding currencies. At 8:30 AM the Aussie dollar is buying 86.04 US cents, on the crosses the dollar is buying 106.2 yen, 63.16 Euro cents, and 42.7 British pence
The full report is available at the following video and audio links.
Video Link
http://www.finnewsnetwork.com/asxgen/get_asx.aspx?site=abnnewswire&intro=MBL_AuOutlook.wmv&media=preopening(Broadband).wmv&content_type=BUSINESS_REPORT&date=20070710Audio Link
http://www.finnewsnetwork.com/asxgen/get_asx.aspx?site=abnnewswire&media=preopening.wma&content_type=BUSINESS_REPORT&date=20070710
