Business Services Industry
Taking a breather.
Australasian Business Intelligence, February, 2007
Byline: Gabriella Hold
Feb 28, 2007 (The Australian Financial Review - ABIX via COMTEX) -- The Australian sharemarket fell sharply on 28 February 2007, in line with its key overseas counterparts. The benchmark S&P/ASX 200 closed 161.3 points lower at 5,832.5, while the All Ordinaries Index eased 161.1 points to close at 5,816.5. The number of trades reached a new high of 364,439 while market turnover topped $A9.2bn. Some analysts say the slump will actually be good for the market, with Rohan Walsh of Invesco Australia noting that investors have become complacent about the long bull run. Companies recording big share price falls include Macquarie Bank, which fell $A5.45 to $A78.99, and Rio Tinto, which eased $A4.01 to finish at $A75.60.
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