Australian stock indices pared their early losses, after the striking 4.5 percent number of China’s CPI surprised the global investors, the highest inflation figure in last three months.
All indices close in green territory; the S&P/ASX200 was up by 16 points to close at 4,290,
Australian stock indices headed down on renewed fears of Greece, which is heading towards debt defaults. Australian indices have also taken weak clues from Wall Street and commodity prices that rose on mining stocks.
The S&P ASX200 benchmark index was down by 71.5 points
The expansion of proposed Olympic Dam is becoming certain, after programs were declared to enlarge Stuart Highway to Port Augusta in southern region of Australia.
Rick Treloar, the MD of C&G Group and Leicester Management Services said that current time is the right opportunity
The decision of Reserve Bank of Australia to keep interest rates unchanged has resulted in sudden plunge down in Australian bond future prices on Wednesday.
The bond price of three year future contract was crashed by 3.4 percent to close at 96.510. The conclusion of yesterday’s board meeting of RBA to keep cash rate at 4.25 per cent,
Australian bond prices have climbed higher on increasing fears of Greek debt bailout. On Thursday at 16:35 AEDT, the March month 10 year future contract was trading at 96.020, up by 4.080 per cent from its previous day’s closing.
On the other hand 3 year future contract was trading at 96.480,
The Federal Treasury head admits that Australian consumers are extremely pessimistic about their economy’s future. Martin Parkinson, the treasury secretary admits that currently some industries are facing very high challenges because of strong Australian dollar.
He further added that the overall
In January, Australian economy has added highest number of workers as compared to last 14 months. The jobless rate surprisingly declined, encouraging investors to predict that Reserve Bank of Australia (RBA) may keep interest rate unchanged.
The statistics bureau declared that payroll has increased by 46,300
After taking the very close look at the balance sheets of companies in tourism, education, retail and manufacturing sector, analysts believe that some companies are definitely doing well, but those which are interest rate sensitive and susceptible to high dollar are finding it tough to perform in the twin-speed economy.
Australia’s resources driven economy may face tough challenges in current year. Though mining sector is continually soaring, other industries such as finance, tourism and manufacturing are showing job cuts in two-speed economy of Australia.
Though Australian economy has successfully managed to stay away
