The Australian stock market began the week on a sour note as financial shares faltered. However, gains from resource shares sent the All Ordinaries Index to a higher close Tuesday. With no substance to drive stocks in either direction; Australian equities closed modestly higher mid-week. Negative leads from the United States sent Australian shares to a sharply lower close Thursday. The upward momentum returned Friday on hopes that the Reserve Bank of Australia will lower interest rates. Although Australian shares closed higher three of five days this week, it wasn’t enough to pull out a gain and stocks ended slightly lower, overall.
That’s the market in review.
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