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Article: Australian Market Report of October 8: Good Start for US Earnings Season
- Article from:
- abnnewswire.net
- Article date:
- October 8, 2009
- Author:
CopyrightCopyright 2009 ABN Newswire. (Hide copyright information)
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Wall Street closed flat yesterday after the market rallied for two days. Traders turned cautious before the third quarter earnings kick off. Alcoa (NYSE:AA), the first company to unveil its earnings, posted a better-than-expected result with third quarter net income of US$77 million, after three consecutive quarters of losses.
The Australian market surged yesterday led by gold stocks after the strong commodities prices. The benchmark S&P/ASX200 index gained 104.1 points, or 2.27 per cent, at 4695.7, while the broader All Ordinaries index climbed 98.6 points, or 2.14 per cent, to 4695.8.
Key Economic Facts and Figures
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