The Australian shares ended slightly lower after rise in early trade. The benchmark S&P/ASX 200 index was down 5.2 points, or 0.1 per cent, at 4000.8 while the broader All Ordinaries lost 5.1 points, or 0.1 per cent, at 3992.9 points. For the week, both indices surged more than 5 per cent, the strongest week in four months. The local market started in positive territory today led by the gains in Wall Street.
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 closed firmer on Friday led by financial stocks. The benchmark S&P/ASX200 index was up 47.8 points, or 1.24 per cent, to 3903.8 points, while the broader All Ordinaries index advanced 48 points, or 1.25 per cent, to 3899.5 points. Trading volume is expected to remain at a low level before the reporting season.
Yesterday, the Australian market finished in positive territory as the Wall Street's good performance this month fueled investors' confidence over a gradual recovery in the US. The benchmark S&P/ASX200 ended the day up 37.3 points, or 1.03 per cent, at 3646.6, while the broader All Ordinaries gained 40.1 points, or 1.13 per cent, to 3586.3.
Yesterday the Australian shares surged on hope of the US bailout plan to remove bad debts from banks. The benchmark S&P/ASX200 index ended 2.4% higher, or 84.5 points at 3550.3, a six-week high, while the broader All Ordinaries index was up2.3%, or 78.1 points, at 3483.1. Investors are getting more confident to return to the stocks market as they believe it has hit the bottom. But analysts warned that fundamental issues in economy have not been solved and it will not be a long term rally although the market is in the third week of rises.
Yesterday the Australian market closed marginally higher as financial stocks surged. The benchmark S&P/ASX200 index gained 0.1%, or 3.2 points at 3348.4, while the broader All Ordinaries index was up 0.1%, or 2.6 points, at 3297.3. Australian shares may receive support from the stronger copper and oil prices, despite the falls on Wall Street.
Yesterday, the Australian market ended marginally lower as investors were encouraged by the Wall Street rallies. The benchmark S&P/ASX200 index ended the day down 0.3%, or 8.9 points, at 3235.5. The broader All Ordinaries index was also down 0.3%, or 8.7 points, at 3190.4. "Many investors have feared worst, and many are probably predicting companies such as GM would eventually be gone, and are already prepared for it," says Thomas Su, Research Director of Money Cat Consulting. It may be too early to predict, but it seems the financial stocks may start leading the gain in the second half of the year, Thomas Su added.
The Australian market ended lower Friday. The benchmark S&P/ASX200 index was down 46.5 points, or 1.4%, at 3402.4. The broader All Ordinaries index shed 45 points, or 1.3%, to 3353. The market sentiment hit by the bearish tone from overseas is not likely to change by the upcoming half year earnings.
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.