Csr Limited

The Australian sharemarket sharply fell on Wednesday with all sectors in the red. At the close, the benchmark S&P/ASX200 index lost 73.3 points, or 1.6 per cent, at 4644.6 points, while the broader All Ordinaries index fell 73.1 points, or 1.5 per cent, to 4670.

Australian stocks declined yesterday on profit taking selling after US aluminium giant Alcoa reported its fourth quarter earnings result, which missed the market expectations. The resources sector drove the local shares lower. The benchmark S&P/ASX200 index closed down 51.2 points, or 1.03 per cent, at 4,899.5 points, while the broader All Ordinaries index lost 49.6 points, or one per cent, to 4,931.6 points.

The Australian sharemarket Tuesday closed higher in a quiet trading day as Dubai debt fears eased. The local market was also inspired by an earlier report about energy giant Exxon's US$30 billion takeover bid of XTO and the forecasts by the Australian government commodity forecaster ABARE for iron ore and coking coal exports. At the close, the benchmark S&P/ASX200 index rose 19.5 points, or 0.4 per cent, at 4673.5, while the broader All Ordinaries gained 19.6 points, or 0.4 per cent, to 4687.8.

Wall Street fell for a third session despite a positive manufacturing data in August. The sell-off was caused by concerns over banks' outlook and fears about September, which was historically one of the market's weakest months.

Australian stocks surged massively yesterday following a rally on Wall Street. The benchmark S&P/ASX200 jumped 129.6 points, or 3.5 per cent, at 3867.1, while the broader All Ordinaries rose 120.8 points, or 3.2 per cent, to 3858.8 points. The gains in overseas markets are likely to continue bolstering the Australian shares as the US earnings reports released in the first week restored some market confidence.

On Friday, the Australian market closed higher led by banking and mining stocks. The benchmark S&P/ASX200 index was up 30.8 points, or 0.8 per cent, at 3794.1 points, while the broader All Ordinaries index gained 29.2 points, or 0.8 per cent, to 3790.6 points. For the week, both benchmarks lost about 0.9 per cent.

The Australian market yesterday closed flat as traders were cautious about the economic outlook. The benchmark S&P/ASX200 index rose one point, or 0.03 per cent, at 3767.9, while the broader All Ordinaries index declined 1.8 points, or 0.05 per cent, to 3766.0 points. Today investors' focus would be the unemployment rate released by ABS.

The Australian share market on Tuesday fell for a second session dragged by lower commodities prices. The benchmark S&P/ASX200 index finished 69.2 points, or 1.72 per cent lower, at 3962.5 while the broader All Ordinaries index plunged 72.5 points, or 1.8 per cent, to 3,957.9 points.

Yesterday the Australian shares fell in a day of light trading as the market had a breather after a few weeks of rally. The benchmark S&P/ASX200 index were 1.2%, or 48.8 points, lower at 3877.2, while the broader All Ordinaries index was down 1.2%, or 46.9 points, at 3863.6.

Yesterday Australian shares plunged sharply, dragged by financial stocks as investors feared the UK banks might need to raise more funds. The unfavorable corporate earnings results also weighed down the market. The benchmark S&P/ASX200 was down 1.5%, or 52.6 points, to 3464.3, while the broader All Ordinaries index lost 1.4%, or 49.1 points, to 3412.2.