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Article: Australian Market Report of May 7: Eyes on Stress Test of the US Banks
- Article from:
- abnnewswire.net
- Article date:
- May 7, 2009
- Author:
CopyrightCopyright 2009 ABN Newswire. (Hide copyright information)
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Wall Street surged Wednesday with rise in banks subject to the stress test. A better-than-expected report on job losses in US private sector also boosted the market sentiment.
Yesterday Australian shares closed lower on concern about the health of US banks. The benchmark the S&P/ASX200 index fell 0.6%, or 23.3 points, at 3867.1, while the broader All Ordinaries index was down 0.6%, or 22.1 points, at 3840.1.
Key Economic Facts and Figures
Performance of construction index by the Australian Industry Group-Housing Industry Association shrank to 36.5 index points in April, a 6.2 point rise from March. The index has been below the 50 point mark since March of last year. The 50 point mark ...