Virgin Blue Holdings Limited

Yesterday Australian market closed lowered as banks stocks plunged after Westpac(ASX:WBC) announced its A$2.5 billion capital raising. The benchmark S&P/ASX200 index had lost 27.3 points or 0.75 per cent to 3604.3, while the broader All Ordinaries was down 20.1 points or 0.57 per cent at 3533.7. Analysts expect more companies such as Commonwealth Bank(ASX:CBA) may also have to raise capital.

Today is going to be another tough day after Wall Street stocks tumbling in late trade overnight as investors worry governments around the world will fail to avert a global recession.

The Australian share market is expected to open lower today after Wall St fell over one per cent on Friday. On the Sydney Futures exchange, the September share price index futures contract lost 74 points, or 1.49 per cent, to 4,880.
The Australian share market rose 0.9 per cent on Friday as resource stocks, led by gold and oil companies, surged on higher commodity prices and the banks pared early losses.