Boart Longyear Limited

Wall Street ended lower in light trading on Friday as reports showed weak consumer sentiment in August and an unexpected decline in July retail sales. The weak reports prompted investors to lock in gains from the recent rally.

WestSide Corporation Limited (ASX:WCL) has appointed experienced international drilling company, Boart Longyear (ASX:BLY)(PINK:BOARF) to operate, maintain and manage the new Schramm TXD 'Telemast' drilling rig currently being commissioned by WestSide in Brisbane.

The Australian shares closed flat Thursday as the market was awaiting more US corporate financial results. The benchmark S&P/ASX200 index fell 4.6 points, or 0.1 per cent, at 3763.3 points, while the broader All Ordinaries index also lost 4.6 points, or 0.1 per cent, to 3761.4 points. The market sentiment was buoyed by the better-than-expected jobs data released yesterday.

The Australian shares yesterday started the new financial year with a significant fall led by financial and resources stocks. The benchmark S&P/ASX200 index lost 80.9 points, or 2.05 per cent, to 3874 points, while the broader All Ordinaries index was 75.5 points, or 1.91 per cent lower, at 3872.3 points.

The Australian share market ended lower on Monday, dragged by miners and banks. The market was cautious ahead of the federal budget which will forecast a record deficit tonight. Yesterday, the benchmark S&P/ASX200 was down 15.7 points, or 0.4%, at 3926, while the broader All Ordinaries lost 9.1 points, or 0.23%, to 3910.5.

Yesterday, the Australian stocks closed slightly lower dragged by the major miners. The benchmark S&P/ASX200 index fell 0.2%, or 7.7 points, at 3769 points, while the All Ordinaries index was also down 0.2%, or 5.8 points, at 3722.3.

Australian share closed at their five-year low point. The benchmark S&P/ASX200 was down 0.1%, or 4.1 points, at 3327.5, while the broader All Ordinaries index also fell 0.1%, or 3.5 points, at 3281.5.

Yesterday the Australian shares ended lower as traders looked to make short-term gains, despite a positive start in the morning. The benchmark S&P/ASX200 share index yesterday lost 1.2%, or 42.7 points, to 3598, while the All Ordinaries index shed 1.1%, or 39.1 points, to 3534.2. But today resource stocks may gain after commodity prices advanced.

On Wednesday, the Australian stock market closed marginally higher as figures showed that economic growth slowed to a crawl in the September quarter. The benchmark S&P/ASX200 index rose 5.6 points, or 0.16 per cent, to 3,533.8, while the broader All Ordinaries added 3.1 points, or 0.09 per cent, to 3,476.5. In recent weeks, the Australian share kept see-sawed during the trading day. In a short term investors remained cautious to any trigger on the market, while the impact for low interest rates and government stimulus may need some time to work.

The share market dropped almost 2% yesterday after Wall Street dropped 4% to its lowest close since the September 2001 terrorist attacks. A late rally among major banks and gains in resources stocks kept the local damage from the fall out from the Lehman Brothers collapse to a minimum. The losses were not as bad as expected but the combined losses of the past two days were significant.