Australian Market Report of December 16: Up in Quiet Trade
The Australian sharemarket Tuesday closed higher in a quiet trading day as Dubai debt fears eased. The local market was also inspired by an earlier report about energy giant Exxon's US$30 billion takeover bid of XTO and the forecasts by the Australian government commodity forecaster ABARE for iron ore and coking coal exports. At the close, the benchmark S&P/ASX200 index rose 19.5 points, or 0.4 per cent, at 4673.5, while the broader All Ordinaries gained 19.6 points, or 0.4 per cent, to 4687.8.