Overnight Wall Street was up on economic data, positive earnings and the nomination of Federal Reserve chief Ben Bernanke to serve a second term. The Conference Board's August index of consumer confidence rose for a second month, exceeding economists' forecast.
The Australian sharemarket has closed at a fresh four-year low after falling more than 1% on renewed global recession fears. Investors actually had expected a much more volatile as the significant declines on Wall Street last Friday gave a negative lead to the local market. Analysts said it was not as bad as expected and the miners performed well yesterday.
GREAT AUSTRALIAN RESOURCES LIMITED (ASX: GAU) - Company Update - Mr Joe Cornelius, Managing Director; Boardroomradio is pleased to announce that GREAT AUSTRALIAN RESOURCES LIMITED (ASX: GAU) has publi