Sydney, July 19, 2007 (ABN Newswire) - Australian shares could open on firm ground today, as a jump in oil prices lift energy firms; the big miners could get a boost from stronger metal prices. But gains could be capped after US stocks fell on rising concerns that the crisis in the subprime mortgage sector could spread.
On Wednesday, the ASX lost 53 finishing at 6,329. On the futures market the SPI200 is up 11.
Turning to currencies, the Australian dollar is continuing its rise to 18 year heights. At 8:45 AM the Aussie dollar is buying 87.76 US cents, on the crosses the dollar is buying 107.01 yen, 63.58 Euro cents, and 42.75 British pence
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