The Aussie market took a beating on Friday, following the lead-in from the States last Thursday night. The S&P/ASX200 finished down 107 points (2.33%) to 4,514.10. Friday’s market tumble took the index down to a three month low.
The Dow had finished in the black on Friday, up by 10 points, ending the day at 10,012.23.
The Eurozone debt fears still weigh heavily on the US market. European Central Bank President Jean-Claude Trichet said “We expect and are confident that the Greek government will take all the decisions that will permit it to reach that goal.”
However, the experts on Wall Street are still yet to be convinced.
Over in the UK, the FTSE had another bad day, losing 78 points or 1.53% to finish at 5,060.92. Head of equities at CMC Markets, Jimmy Yates has suggested that the decline is “A fear driven fall”.
The UK market is still easily spooked and the poor US job data from last week has made traders even more nervous.
The Nikkei was down 298 points to close at 10,057.09.
The price of spot gold in Australian dollars is trading at $1,228.64 while in US Dollars it is trading at $1,066.50. The price of silver in Aussie dollars is $17.45 and in US Dollars it is $15.15.
The Aussie dollar versus the US dollar is trading at USD$0.8677, and against the Japanese Yen JPY77.61
Crude Oil hit a 7 week low closing at USD$71.19, lower by 2.67%
For the biggest movers on the market yesterday click here…
That’s all I have for you this Monday morning, see you tomorrow.
Shae.
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