Australian Share Market Outlook - October 21, 2013
- Major banking shares ended higher today, with National Australia Bank (NAB) the only big player to touch a lower end. ANZ Banking Group finished 0.82 per cent or 26 cents higher to $32.12.
- The smaller company Rio Tinto touched 0.5 per cent higher today after jumping by 3 per cent last week. Australia’s
second largest miner recorded a 4 per cent rise in iron ore shipments
last quarter and a 23 per cent jump in mined copper. Tomorrow, Oil Search will issue its third quarter production numbers.
- According
to a weekly report issued by the Australian Institute of Petroleum, the
average price of unleaded petrol rose by 0.1 cents per litre to 151.0
cents last week.
- A
strong Australian dollar together with a widening margin makes a 2-3
cent per litre fall in petrol prices a real possibility over the next
fortnight.
- At
the close, 1.85 billion shares changed hands, worth $3.73 billion. 575
stocks finished higher, 408 ended in the red and 316 closed flat.
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