The Australian shares ended with little changes on Friday. The S&P/ASX200 index just added 1 point to 3776.7 points, while the broader All Ordinaries gained 2.5 points to 3728.1. The local market is likely to be lifted on the back of the stronger metals prices. Today Rio Tinto's Australian annual meeting will also be the market focus.
Yesterday the Australian shares closed slightly lower as falls in financial stocks overshadowed the gains in big miners. The benchmark S&P/ASX200 index was down 0.1%, or 5.4 points, at 3747.5, while the broad-market All Ordinaries index fell 0.1%, or 4 points, at 3693.9.
Australian shares closed lowered yesterday as investors expected a further fall on US market. The S&P/ASX 200 fell 86.8 points, or 2.3 per cent, to 3619.5, while the All Ordinaries was down 81 points, or 2.22 per cent at 3567.5. The financial stocks may be hit by International Monetary Fund's forecast of increasing toxic assets.
On Friday, the Australian shares closed higher. The benchmark S&P/ASX200 climbed 55.4 points, or 1.51 per cent, at 3,735.6, while the broader All Ordinaries surged 51.8 points, or 1.43 per cent, to 3,674. This week the focus of the local market will be the Reserve Bank of Australia's interest rate decision.
Yesterday the Australian share fell on the weaker outlook in Europe and US markets. The S&P/ASX200 index ended the day down 1.8%, or 67.9 points, at 3604.4, while the broader All Ordinaries index lost 1.7%, or 61.4 points, at 3554.2.
The Australian share closed slightly higher lifted by miners. The benchmark S&P/ASX200 index ended the day up 0.7%, or 25.7 points, at 3672.3, while the broader All Ordinaries index rose 0.8%, or 29.3 points, at 3615.6. For the week, the ASX200 added 6% and the All Ordinaries rose 6.2%.
Most Asian markets opened firmer Thursday following Wall Street's rebound overnight lifted by better-than-expected economic figures.
