Indophil Resources Nl

Yesterday, the Australian share market closed lower after falls from the financial sector, with Babcock & Brown (ASX:BNB) suffering a heavy loss amid a drop in interim profit. Analysts said that some of the reports out yesterday were slightly negative, despite some coming out with higher profit the forward earnings would be under pressure.

Yesterday, the Australian share market was 3.5 per cent higher to post its biggest single-day rise in almost four months as bargain hunters snapped up banks, property trusts and miners.