Hot Penny Stocks » Aussie local stocks

After a strong trading day, Aussie local market down again

Trader — Mon, 05 Jan 2009 11:46:00 +0000

The local market of Australia traded a strong gains during the new year’s trading. But the gains seemed to be superficial as it stumbled again led by the banking sector. On the other hand, the resources sector remained strong.

The banks were the biggest losers, dragging the market down with them.

Commonwealth Bank fell 60 cents to $28.60, Westpac declined 12 cents to $16.64, and ANZ retreated 11 cents to $15.07.

NAB fell 17 cents to $20.23 as it hosed down speculation that new chief executive Cameron Clyne may offload the bank’s UK assets.

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Australia business confidence collapse

Trader — Tue, 11 Nov 2008 02:17:00 +0000

The National Bank of Australian business confidence and business conditions’ survey has plunged to 21 points for the months of October. The collapse of business confidence has ushered the local stocks to drop to more than 4 percent.

Today’s confidence dive surpasses the level hit during 2001, when it reached minus-23, according to NAB.

The broad-based falls in confidence measured by NAB echoed a drop in business conditions, which tumbled 10 index points to minus-11 points in October from minus-1 in September, bringing the index near lows not seen since early 2001 when an economic slowdown was under way, Mr Oster said.

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Australian shares drop below 4000

Trader — Fri, 07 Nov 2008 02:21:00 +0000

After commodity prices resume their tumble and overseas markets dive, Australian shares were sharply lower at noon, erasing all of November’s early gains.

“We’re seeing financials, resources and listed property trusts weaker,” he said. “I think the only part of the market where I see a bit of green is in the telecommunications sector, which is really Telstra.

“I think it’s just a safe haven when the market has a question mark about other sectors at this point.”

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Aussie stock in the red

Trader — Thu, 06 Nov 2008 05:21:00 +0000

Australian share market is reportedly remained in the red at noon, pulled down by some mining companies.

On the Sydney Futures Exchange, the December share price index futures contract was 154 points lower at 4,211 on a volume of 16,525 contracts.

CommSec market analyst Elvina Simpson said stocks were being heavily sold off in every sector, giving up gains yesterday as investors took profits, bringing the recent rally to an end.

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