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
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