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Article: Australian Market Report of November 9: Market Shrugged Off Disappointing US Jobs Data
- Article from:
- abnnewswire.net
- Article date:
- November 9, 2009
- Author:
CopyrightCopyright 2009 ABN Newswire. (Hide copyright information)
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Wall Street posted a small gain on Friday despite the Labour Department report showed the US unemployment rate broke above 10 per cent in October, up from 9.8 per cent in September. But the number of jobs lost narrowed to the lowest level in more than a year.
The Australian share market opened higher after Wall Street's gains, along with stronger gold prices. On Friday the local market was buoyed by a more optimistic assessment of the economy by the RBA. The benchmark S&P/ASX200 index closed 1.91 per cent higher, settled at 4594.04, while the broader All Ordinaries index rose 85.2 points, or 1.89 per cent, to 4604.4.
The Australian dollar rose on the back of US dollar weakness after the ...