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Article: Australian Market Report of August 17: Corporate Results Boosted Confidence
- Article from:
- abnnewswire.net
- Article date:
- August 17, 2009
- Author:
CopyrightCopyright 2009 ABN Newswire. (Hide copyright information)
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Wall Street ended lower in light trading on Friday as reports showed weak consumer sentiment in August and an unexpected decline in July retail sales. The weak reports prompted investors to lock in gains from the recent rally.
On Friday the Australian share market posted gains as a bunch of better-than-expected profit results boosted market confidence. The benchmark S&P/ASX 200 index added 25.1 points, or 0.57 per cent, to 4461, while the broader All Ordinaries index lifted 28.4 points, or 0.64 per cent, to 4465.1.
Key Economic Facts and Figures
Reserve Bank of Australia Governor Glenn Stevens last Friday tipped that the central bank will adjust the cash interest rate when it is clear the ...