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Article: Australian Market Report of August 24: US Home Sales Boosted Confidence
- Article from:
- abnnewswire.net
- Article date:
- August 24, 2009
- Author:
CopyrightCopyright 2009 ABN Newswire. (Hide copyright information)
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Wall Street posted a fourth day on Friday rise as the US existing home sales data gave investors more confidence that it is the end of the recession. For the week The Dow Jones Industrial Average gained almost 2 per cent, while the Standard & Poor's 500 index added 2.2%.
Australian market Friday slumped on weak earnings and worries over China's plan to tighten lending. The benchmark S&P/ASX200 share index ended down 86.9 points, or 2 per cent, at 4290.6, while the broader All Ordinaries also 2 per cent, to 4305.7.
Key Economic Facts and Figures
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