Sydney, Aug 15, 2007 (ABN Newswire) - Australian shares could fall further into the red this morning after fresh signs of trouble in global credit markets hit US stocks. Shares there tumbled after Sentinel Management told clients it wants investors to stop withdrawing cash to avoid forced liquidation. Financial stocks are seen leading the Australian market down.

The S&P/ASX200 lost 47 points ending at 5.965. On the futures market the SPI200 is down 77.

Turning to currencies, The Aussie dollar extended its fall in offshore trade this morning hitting a 10-week low. At 8:35 AM the Australian dollar is buying 83.37 US cents, on the crosses the dollar is buying 97.93 yen, 61.61 Euro cents, and 41.77 British pence

The full report is available at the following video and audio links.

Video Link

http://abnnewswire.net/lnk/2XZFOR95


Audio Link

http://abnnewswire.net/lnk/0Y48T7KV

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