Sydney, July 31, 2007 (ABN Newswire) - Australian shares could rise this morning, extending yesterday's gains after a rebound in New York, with mining firms likely to benefit once again from a rise in base metals prices. Analysts have said the Australian market remains well-supported by the strong economy, and is expected to get a lift from the reporting season.
On Monday, the ASX added 26 points finishing at 6,109. On the futures market the SPI200 is up 55.
Turning to currencies, the Australian dollar rebounded in offshore trade following two straight sessions of sharp losses. At 8:35 AM the Aussie dollar is buying 85.84 US cents, on the crosses the dollar is buying 102.29 yen, 62.63 Euro cents, and 42.33 British pence
The full report is available at the following video and audio links.
Video Link
http://abnnewswire.net/lnk/HSRDP2B7Audio Link
http://abnnewswire.net/lnk/9U17V2M0About Finance News Network
Finance News Network (FNN) has been producing up-to-date concise business and finance news tailored to traders and investors alike since 2002. FNN content reaches a diverse and constantly growing audience via online streaming video, Street Vision broadcasts and the Telstra 3G mobile phone network.
http://www.finnewsnetwork.com.au
