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Article: Australian Market Report of July 8: Hit by Weaker Commodities Prices
- Article from:
- abnnewswire.net
- Article date:
- July 8, 2009
- Author:
CopyrightCopyright 2009 ABN Newswire. (Hide copyright information)
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US stocks fell significantly on lower commodities prices and renewed worries about the economy. Investors are also cautious ahead of Alcoa's quarterly report Wednesday, which marks the official beginning of earnings season. The market sentiment was dented as an official in government's economic advisory panel said the United States should plan to possibly provide a second round of stimulus funds to prop up the economy.
Yesterday Australian shares slightly fell on weaker base metal prices. The benchmark S&P/ASX200 index dropped 16.8 points, or 0.4 per cent, at 3766.9 points while the broader All Ordinaries index had shed 16.4 points, or 0.4 per cent, to 3767.8.
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