Perilya Limited

Yesterday the Australian share market ended lower, led by energy and mining stocks and a fall on a dismal earnings season in the US. The benchmark S&P/ASX200 index was down 0.8%, or 28.7 points, at 3654.6, while the broader All Ordinaries index slid 0.8%, or 30.1 points, to 3593.9. After some rise at the start of the year, the market may see more volatility due to the renewed bleak global outlook.

Yesterday offshore markets helped lift the Australian share market to a two-month high. Investors started to return as they were increasingly confident that the market may have passed the worst situation. The benchmark S&P/ASX200 index was up 37.0 points, or 0.99 per cent, at 3,779.7, and the broader All Ordinaries index added 39.0 points, or 1.06 per cent, to 3,728.2. The weaker commodities prices and performance of US stocks may send the local market down.

Yesterday the Australian share market was closed in thin trading. The benchmark S&P/ASX200 index ended down 26.8 points, or 0.7%, at 3687. The All Ordinaries index gained 16.8 points, 0.5%, to 3638.9. Market is expected to follow the US trends, but the rising oil and commodities prices may give resources sector a push.

Yesterday, the Australian market closed higher as the miners surged on rising commodities prices offsetting the slump dragged by Telstra after the government ruled out the company from the tender list for bidding on the national broadband network. The benchmark S&P/ASX200 share index ended the day 2.3% higher, or 81 points, at 3591.4, while the broader All Ordinaries index rose 2.4%, or 83.2 points, to 3535.7. Traditionally the market would be quiet during this period with more focus on specific stocks rather than the market as a whole.

On Monday, the Australian share market closed around four per cent higher, boosted by gains in the financial and resources sector and a rally on United States markets on Friday. Meanwhile, bargain hunters took the buying opportunity to snap cheap stocks. Energy sector was also pushed up by the higher oil price as well as the Santos takeover talks. The benchmark S&P/ASX200 index gained 141.7 points, or 4.06 per cent, to 3,631.6, while the broader All Ordinaries was up 126.6 points, or 3.69 per cent, at 3,553.8. The news a short-term rescue package for the US carmakers expected to be unveiled may strengthen the market sentiment today. Resource stocks would also gain after commodity prices advanced.

Yesterday, benefited from the US government's bailout plan on Citigroup, the Australian market benchmark S&P/ASX200 share index had its best day in more than 11 years, jumping 5.8%, or 198.3 points, to 3623.4, while the broader All Ordinaries index was up 5.5%, or 186.6 points, to 3575.4. Analysts say the market sentiment remains fragile as fundamental problems have not changed, although world governments are taking action to stimulate economy.

At week's end, Wall St. rebounded with about 2.9% rise on hopes for further US rate cuts and President-elect Barack Obama's call for another economic stimulus plan. China's announcement over the weekend that it will spend 4 trillion yuan by 2010 to help re-ignite growth may also shore up Australian stocks, particularly miners.

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