Bluescope Steel Limited

Australian shares posted a strong gain yesterday. The better-than-expected employment data also boosted the stocks market. At the close, the benchmark S&P/ASX200 index rose 1.9%, or 71.6 points, at 3938.7, while the broader All Ordinaries index was up 1.9%, or 72 points, at 3912.1.

Yesterday Australian market was marginally higher, boosted by rally overseas. The benchmark S&P/ASX200 gained 7.4 points, or 0.19 per cent, at 3890.4, while the broader All Ordinaries rose 16.2 points, or 0.42 per cent, to 3862.2.

The Australian shares posted strong gains yesterday. The benchmark S&P/ASX200 index ended 3% higher, or 113.4 points, at 3883. The broad-market All Ordinaries index was up 2.9%, or 108.1 points, at 3846. Today the local market is expected to extend its rally after the boost of overseas and rising commodities prices. Reserve Bank of Australia's interest rate decision will be the focus of the day.

Yesterday the Australian share market extended its gains despite a weak lead on Wall Street. The benchmark S&P/ASX200 rose 0.8%, or 29.3 points, at 3609.3, while the broader All Ordinaries added 0.8%, or 28.9 points, at 3546.2.

The Australian market ended lower Friday. The benchmark S&P/ASX200 index was down 46.5 points, or 1.4%, at 3402.4. The broader All Ordinaries index shed 45 points, or 1.3%, to 3353. The market sentiment hit by the bearish tone from overseas is not likely to change by the upcoming half year earnings.

Yesterday Australia's share market closed higher after surge in the mining sector. The benchmark S&P/ASX200 index yesterday ended 36.4 points or 1% higher at 3640.7, while the broader All Ordinaries was up 39.6 points, or 1.1%, at 3,573.3. The stronger commodity prices for gold and oil overnight may further buoy the stocks market which has been oversold.

Yesterday, Australian shares slumped to their lowest close since October 8, 2004. The benchmark S&P/ASX200 share index plummeted 5.9% to 3697.3. The broader All Ordinaries index fell 211.2 points, or 5.44 per cent, to 3,672.4, its weakest close since October 1, 2004. Analysts said although local stocks may rebound after rise in US stocks and oil price, markets worldwide still have a significant unsettling economic outlook.

Overnight US stocks plummeted for a second day with a 4.85% drop as global markets plunged on fears of a deep worldwide recession. Yesterday the 150 basis points interest rate cut of Britain also surprised the market. Economists and analysts questioned the need for such a big cut and believe the economy must be in seriously risk with more dangers ahead. Investors ignored big interest rate cuts in Europe to send markets into steep falls overnight. The key Asian indicators also dropped more than 6.5 percent and wiping out much of the previous rally that had preceded the presidential election in the United States.

Yesterday Australian shares closed higher for the first time in six days. At the close, the benchmark S&P/ASX200 share index was up 1.3%, or 51 points, to 3845.6, after earlier advancing more than 4.8%. Analysts said the market could continue to fall until a few basic fundamentals such as US housing sales, interbank lending, and commodity prices improve.

The US Federal Reserve's bailout of insurance giant American International Group (AIG) did little to ease the concerns of investors worldwide, Asian markets were deeply in the red, with Hong Kong's bourse down about seven per cent. The Australia share market took another massive beating yesterday.