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Australian local market expected to open weaker

Trader — Thu, 08 Jan 2009 01:41:00 +0000

Due to the falling prices of commodities and weak stocks on Wall Street, the local stock market of Australia is likewise expected to open weaker.

On Wednesday, the Australian stock market closed higher, after the local resources sector strengthened on the back of improved commodity prices.

The benchmark S&P/ASX200 index was up 37.0 points, or 0.99 per cent, at 3,779.7, and the broader All Ordinaries index added 39.0 points, or 1.06 per cent, to 3,728.2.

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Australian shares jump following Wall Street rebound

Trader — Fri, 14 Nov 2008 01:17:00 +0000

Following the US Wall Street rebound for almost 7 percent on its overnight trading, the Australian local shares jumped for almost 4 percent, despite reports of cutting jobs to most of the local banks here.

At 10.19am Australia’s biggest oil and gas producer Woodside Petroleum rose 4.3 per cent to $38.49, Santos was up 4 per cent to $13.48 and Oil Search was up 4.2 per cent to $4.95.

Wall Street launched a massive late rebound after sending the Dow Jones industrials briefly below 8,000.

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