Post by golden on Oct 28, 2010 17:58:22 GMT 10
Banks and miners boost share market
By Di Bain
Updated 40 minutes ago
The Australian share market has closed higher, boosted by the banks and miners.
The All Ordinaries Index has gained 32 points to 4,753.
The ASX 200 is up 37 points to 4,685.
ANZ surprised analysts by declaring a $4.5 billion profit.
Its shares went up nearly 3 per cent on the numbers.
It is the second big profit result from the banks this week after the National Australia Bank announced yesterday it had made $4.2 billion.
Its shares continued an upward march, climbing 8 cents to $25.34.
The bank shares were much higher earlier in the day before the Upper House announced an inquiry into the banks.
While the big banks are making profits, the Reserve Bank is not fairing as well.
The central bank released its annual report today and said it was unable to pay the Government a dividend.
It is the first time since 1975 that the Reserve has been unable to make a payment to the Government.
Other market movers include Rio Tinto, which gained $1.44 to close at $83.79.
Retailer Harvey Norman reported lower earnings and its shares fell more than 1.5 per cent to $3.38.
As Telstra announced it was shrinking its workforce, its shares were growing.
It closed more than 1 per cent higher to $2.71.
The Australian dollar was flat.
Around 5:45pm (AEDT) it was buying 97.5 US cents, 79.6 Japanese yen, 70.5 euro cents, 61.7 British pence and $1.30 in New Zealand.
West Texas crude oil was at $US82 a barrel, while spot gold had fallen to $US1,326 an ounce.
www.abc.net.au/news/stories/2010/10/28/3051082.htm?section=justin
g
By Di Bain
Updated 40 minutes ago
The Australian share market has closed higher, boosted by the banks and miners.
The All Ordinaries Index has gained 32 points to 4,753.
The ASX 200 is up 37 points to 4,685.
ANZ surprised analysts by declaring a $4.5 billion profit.
Its shares went up nearly 3 per cent on the numbers.
It is the second big profit result from the banks this week after the National Australia Bank announced yesterday it had made $4.2 billion.
Its shares continued an upward march, climbing 8 cents to $25.34.
The bank shares were much higher earlier in the day before the Upper House announced an inquiry into the banks.
While the big banks are making profits, the Reserve Bank is not fairing as well.
The central bank released its annual report today and said it was unable to pay the Government a dividend.
It is the first time since 1975 that the Reserve has been unable to make a payment to the Government.
Other market movers include Rio Tinto, which gained $1.44 to close at $83.79.
Retailer Harvey Norman reported lower earnings and its shares fell more than 1.5 per cent to $3.38.
As Telstra announced it was shrinking its workforce, its shares were growing.
It closed more than 1 per cent higher to $2.71.
The Australian dollar was flat.
Around 5:45pm (AEDT) it was buying 97.5 US cents, 79.6 Japanese yen, 70.5 euro cents, 61.7 British pence and $1.30 in New Zealand.
West Texas crude oil was at $US82 a barrel, while spot gold had fallen to $US1,326 an ounce.
www.abc.net.au/news/stories/2010/10/28/3051082.htm?section=justin
g
