Fortescue Metals Group Ltd

On Friday, the Australian market closed higher, lifted by the news of a massive joint venture between mining giants BHP Billiton and Rio Tinto after Rio scrapped the takeover deal with Chinalco. The benchmark S&P/ASX200 index was up 36.6 points, or 0.93 per cent, at 3971.2, while the broader All Ordinaries index gained 36.5 points, or 0.93 per cent, to 3969.0 points. Today the local market could be hit by lower commodities prices.

The Australian share market closed lower. The benchmark S&P/ASX200 index was down 82.6 points, or 2.06 per cent, at 3934.6, while the broader All Ordinaries index fell 76.8 points, or 1.92 per cent, to 3932.5. Resources stocks will benefit from the rise in commodities prices, but could be weighed down by the failure of investment deal between Rio Tinto and Chinese government backed Chinalco.

The Australian share market ended higher on Friday, led by banking stocks. The benchmark S&P/ASX200 index rose 62.4 points, or 1.66 per cent, to 3,818.1, while the broader All Ordinaries index gained 59.4 points, or 1.58 per cent, to 3,813.3.

The Australian share market yesterday closed slightly higher with a good lead from Wall Street. The benchmark S&P/ASX200 index gained 12.7 points, or 0.3 per cent, at 3801.1, while the broader All Ordinaries index rose 13.7 points, or 0.4 per cent, to 3795.3. There was a sell-off in late trading as investors drew cash to participate ANZ's capital raising.

Yesterday Australian shares fell after Wall Street plummeted on renewed banking fears. The benchmark S&P/ASX200 index plunged 2.4%, or 91.6 points, at 3677.4, while broad-market All Ordinaries index lost 2.4%, or 89.2 points, at 3633.1.

The Australian shares ended with little changes on Friday. The S&P/ASX200 index just added 1 point to 3776.7 points, while the broader All Ordinaries gained 2.5 points to 3728.1. The local market is likely to be lifted on the back of the stronger metals prices. Today Rio Tinto's Australian annual meeting will also be the market focus.

Yesterday the Australian shares closed with a three months high, lifted by stronger banks and resources stocks. The benchmark S&P/ASX200 index was up 2.2%, or 81.3 points, at 3752.9, while the broader All Ordinaries index also gained 2.2%, or 80.5 points, at 3698. The financial sector was largely buoyed by the US bank Goldman Sachs’ first quarter earnings.

On Friday, the Australian shares closed higher. The benchmark S&P/ASX200 climbed 55.4 points, or 1.51 per cent, at 3,735.6, while the broader All Ordinaries surged 51.8 points, or 1.43 per cent, to 3,674. This week the focus of the local market will be the Reserve Bank of Australia's interest rate decision.

Yesterday Aussie shares closed slightly lower after the massive fall in the US market. The benchmark S&P/ASX200 index ended the day down 0.6%, or 22.3 points, at 3582.1, while the broader All Ordinaries index fell 0.6%, or 21.9 points, at 3532.3. The local market has become more immune to Wall Street’s negative leads in recent days.

Yesterday Australian shares closed 1% higher as most sectors surged. The benchmark S&P/ASX200 index rose 33.9 points, at 3480.2 while the All Ordinaries index was up 0.9%, or 30.60 points, at 3416.8. The local mining and energy sectors could be buoyed by the rising gold and oil prices today despite the negative lead from the US.