Us Figures Cause Of Caution
Newcastle Herald
Friday July 16, 1999
STOCKS: The Australian sharemarket closed firmer yesterday, with investors nervous about the release of inflation figures in the United States overnight, brokers said.
The benchmark all ordinaries index recovered in late trade to close 10.6 points higher at 3065.0, seven points below its intra-day peak.
The June CPI (consumer prices) numbers were to come out in the United States last night.
Among bank stocks, ANZ was the best performer, surging 35.3?, or 3.18%, to $11.456 (Report, Page 43).
Pacifica surged 25? to $6.90 and Foster's Brewing firmed 1.5? to $4.135, while BHP rose 28.8? to $18.588 but Rio Tinto slipped 24.3? to $26.607.
DOLLAR: The $A retreated yesterday, with a weaker gold price and comments by Prime Minister John Howard and Treasury Secretary Ted Evans giving the market excuses to sell. The domestic currency finished the day weaker at 65.79US? from 66.08US? at Wednesday's close.
© 1999 Newcastle Herald