Business Services Industry
Rally surprises, but caution rules.
Australasian Business Intelligence, July, 2006
Byline: Nina Wan
Jul 27, 2006 (The Australian Financial Review - ABIX via COMTEX) -- The Australian sharemarket enjoyed an unexpectedly strong upward correction on 27 July 2006. According to Justin Gallagher of ABN Amro, some reversal on the previous day's consumer price index-sparked slump had been expected. The key S&P/ASX 200 Index rose to 5,007.8, up by 72.10 points, and the All Ordinaries Index closed at 4,976.5, up by 68.9 points. Banks, which had been punished in relation to interest rate fears, did very well. Commonwealth Bank of Australia shares gained $A0.85, finishing at $A45.10. Property trusts were also strong, possibly reflecting the perceived security of these investments in times of economic uncertainty.
Publication Date: 28 July...
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