AWB Limited

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 market ended marginally lower as investors were encouraged by the Wall Street rallies. The benchmark S&P/ASX200 index ended the day down 0.3%, or 8.9 points, at 3235.5. The broader All Ordinaries index was also down 0.3%, or 8.7 points, at 3190.4. "Many investors have feared worst, and many are probably predicting companies such as GM would eventually be gone, and are already prepared for it," says Thomas Su, Research Director of Money Cat Consulting. It may be too early to predict, but it seems the financial stocks may start leading the gain in the second half of the year, Thomas Su added.

Yesterday the Australian market closed slightly lower. The benchmark S&P/ASX200 index was down 0.6%, or 19.9 points, at 3488.7, while the broader All Ordinaries index dropped 0.5%, or 17.2 points, to 3428.6.

On Thursday, the Australian share market closed higher for a fourth day with around 1.4 per cent stronger led by the big miners as commodities surged. The benchmark S&P/ASX200 index closed up 48 points, or 1.36 per cent, at 3588, while the broader All Ordinaries gained 48.6 points, or 1.4 per cent, at 3528.2. Analysts said the market seems to be a little quiet with less participation, except for some fluctuation after BHP's decision of dumping its takeover bid for Rio Tinto.

Yesterday the Australian share market closed 3.5 per cent down at fresh four-year lows, largely dragged down by banks and miners, wiping A$34 billion from the value of the market. The benchmark S&P/ASX200 index was 129.8 points, or 3.55 per cent lower at 3523.2, while the broader All Ordinaries lost 126.4 points, or 3.47 per cent, to 3513.1 led down by resource and banking stocks. Analysts said the market fell more than expected as it was closing to the end of short-selling ban.

On Friday, the Australian share market fell more than 2% as major banking and resources stocks felt the impact of renewed concerns about the health of the global economy. The benchmark S&P/ASX200 finished down 102.4 points, or 2.06% to 4877.1. The broader All Ordinaries lost 101.4 points, or 2.01% to 4949.5.