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Article: Australian Market Report of January 14: Renewed Bleak Outlook
- Article from:
- abnnewswire.net
- Article date:
- January 14, 2009
- Author:
CopyrightCopyright 2009 ABN Newswire. (Hide copyright information)
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Overnight the US stocks closed mixed as worries about the earnings of General Electric and some other corporate weighed on the market, but Citigroup's refocus its business turned around the financial sector.
Yesterday the Australian share market ended lower, led by energy and mining stocks and a fall on a dismal earnings season in the US. The benchmark S&P/ASX200 index was down 0.8%, or 28.7 points, at 3654.6, while the broader All Ordinaries index slid 0.8%, or 30.1 points, to 3593.9. After some rise at the start of the year, the market may see more volatility due to the renewed bleak global outlook.
The Aussie dollar has opened lower after figures which showed a sharp drop in the US trade ...