GREY:SXRZF - Post by User
Post by
goldishon Mar 26, 2009 10:51pm
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Post# 15875543
Indicator for Friday
Indicator for FridayAustralian market trades higher for a fifth straight session, led by mining stocks
3/26/2009 9:07 PM ET
The Australian stock market was trading higher on Friday, extending recent sessions gains, following another triple-digit gain on Wall Street overnight. In the local market, mining stocks led the gainers as metal prices rose. In early trading, the benchmark S&P/ASX 200 index is gaining 48 points or 1.32% to 3,695, after closing a percent higher on Thursday. The broader All Ordinaries index is up 48 points or 1.35% to 3,635.
In the currency market, the Australian dollar opened stronger. The Aussie opened at US$0.7023-0.7026, up from Thursday's close of US$0.6992-0.6995.
On Wall Street, U.S. stocks ended Thursday's trading session higher, amid some reassuring economic news and comments from Treasury Secretary Geithner, calling for a stronger regulatory system with increased government power. Geithner also pushed for tougher rules on how big companies manage their finances as well as for tighter controls on some hedge funds and money-market mutual funds. Treasury Department also auctioned $24 billion worth of seven-year notes that helped to ease some of the recent concerns about the outlook for demand for government debt. The Dow closed up 175 points or 2.25% at 7,925, the Nasdaq gained 58 points or 3.80% to 1,483, and the S&P 500 added 19 points or 2.33% to finish at 833.
On the economic front, the markets have very little economic reports to digest in today's trading