Australian Stock Market Report – Midday 9/27/2012

By International Business Times,  September 26, 2012, 11:26:41 PM EDT

LUNCHTIME REPORT
(1pm AEST)

Yesterday, the Australian share market closed lower for the third straight session, with the All Ordinaries Index (XAO) giving back another 13 points to 4,382 points.

Overnight Global markets were hit by more negativity: the backlash from the protest and riots in Spain and Greece, more poor economic data and renewing fears of a lengthy Eurozone downturn.

The Spanish market closed nearly 4% lower ahead of the Spanish government´s release of its 2013 budget plan later today and regional infighting putting pressure on regional banks. Italian retail sales fell 3.2% in July 2012 compared to July 2011 and off 0.2% over the month. As well as more bad news for France with its unemployment level hitting 3 million people for the first time since June 1999.

Read More on International Business Times




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks:



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