Yesterday the Australian share market closed higher with gains across all sectors, except for healthcare. The market remained quiet with low trading volume and less news out. The S&P/ASX200 index rose 55.7 points, or 1.5%, to 3742.7, a near two-month closing high, while the broader All Ordinaries index gained 50.3 points, or 1.4%, to 3689.2.
Yesterday the Australian market closed slightly lower led by Rio(ASX:RIO) and BHP(ASX:BHP), although metals prices were higher on the dropping of US dollar and rising Chinese imports. The benchmark S&P/ASX200 index closed down 26 points, or 0.73%, to 3531.4, while the broader All Ordinaries index fell 24.1 points, or 0.69%, to 3468.2.
On Friday, the Australian market closed marginally higher with rise on most sectors except energy stocks. The benchmark S&P/ASX200 index gained 34.5 points, or 0.96 per cent, at 3,615.7, while the broader All Ordinaries index rose 25.5 points, or 0.72 per cent, to 3,547.2. Low trading volumes are expected this week.
Yesterday the Australian shares ended flat as weaker Commonwealth Bank and energy stocks weighed on the market. The benchmark S&P/ASX200 index was up 10.6 points, or 0.3 per cent, at 3,581.2, while the broader All Ordinaries index gained 6.7 points, or 0.19 per cent, to 3,521.7. It could be fairly quiet during the pre-Christmas sessions. But the local market may be hit by the dropping commodities prices and the fears on US auto industry as US government has admitted that orderly bankruptcy can be one of the options for the troubled automakers.
Yesterday, the Australian market closed higher as the miners surged on rising commodities prices offsetting the slump dragged by Telstra after the government ruled out the company from the tender list for bidding on the national broadband network. The benchmark S&P/ASX200 share index ended the day 2.3% higher, or 81 points, at 3591.4, while the broader All Ordinaries index rose 2.4%, or 83.2 points, to 3535.7. Traditionally the market would be quiet during this period with more focus on specific stocks rather than the market as a whole.
The Australian stock market closed more than two per cent lower on Friday following weakness in United States markets caused by doubts over a rescue package for US car makers. The benchmark S&P/ASX200 index had fallen 87.6 points, or 2.43 per cent, to 3,510.4, while the broader All Ordinaries index lost 81.7 points, or 2.31 per cent, to 3,452.5. As the US Senate's rejected the $14-billion bailout for American automotive makers, the stock market is expected to continue moving downward on the negative news.
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.
