US stocks traded slightly higher overnight with more buying in financials. Analysts expect there would be a short-term correction after the rally as investors lock in gains from a strong three-week rally.
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.
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.
ASF Group Limited (ASX:AFA)(PINK:ASFTF) is pleased to announce that the Board of Directors has approved the issuance of up to 18 million new shares in the Company at not less than market price to a small number of sophisticated investors.
Australian healthcare company Stirling Products Limited (ASX:STI) is pleased to announce another milestone in the expansion of the licensed (pending joint venture approval) botanical products to markets outside of Ukraine. Immunoxel (Dzherelo) has been granted approval in South Africa. This approval will allow immediate sales of the phytoconcentrate as an immune adjuvant for TB and HIV treatment.
The Australian share market yesterday ended stronger despite the negative lead from Wall Street. The benchmark S&P/ASX200 was up 81.7 points, or 2.2 per cent, at 3817.3, while the broader All Ordinaries gained 79.0 points, or 2.1 per cent, to 3800.6. Today the local market could be buoyed by the rising commodities prices.
Yesterday the Australian shares closed slightly lower as falls in financial stocks overshadowed the gains in big miners. The benchmark S&P/ASX200 index was down 0.1%, or 5.4 points, at 3747.5, while the broad-market All Ordinaries index fell 0.1%, or 4 points, at 3693.9.
