Oct, 10 2013, at 7:45 am, AUST sharemarket opened slightly lower as prices for the commodity fell overnight due to weigh on resources stocks.
According to AAP, the benchmark S&P/ASX200 index was down 14.2 points, or 0.3 per cent, at 5138.8 points while the broader All Ordinaries index was down 13.8 points, or 0.3 per cent, at 5137.8 points.
As a result of the U.S. government partial shutdown, gold, copper and oil prices plummeted. Markets were apprehensive of the impending effects on economic growth and demand for materials.
Traders were showing apprehension with their activities as observed by Rivkin global analyst Tim Radford.
The falling AUST market also resulted from news of unemployment rate at 5.8 per cent today.
Newcrest Mining fell down 22 cents, 2.1 per cent at $10.70; BHP Billiton had shed 29.5 cents to $34.535; Rio Tinto eased 20 cents to $60. So far, Fortescue metal gained four cents at $4.82.
Major banks, on the other hand, were slightly higher: ANZ up 16 cents to $30.61, National Australia Bank up 15 cents to $34.41, Commonwealth Bank had lifted five cents to $71.07 and Westpac was seven cents higher at $32.24.
At 12:05 AEDT, the AUST market fell slightly with the benchmark S&P/ASX200 index fell 0.21 per cent to 5,142.1 points, while the broader All Ordinaries index slipped 0.2 per cent to 5,141.3 points, Markets Spectator reported.
On Wednesday, Oct 9, the AUST market was slightly higher, with the benchmark S&P/ASX200 index adding 3.6 points to 5,153 and the broader All Ordinaries index gaining 3.5 points to 5,151.6, BusinessDay reported.
IG market strategist was positive about the gains.
"It's a relatively good day considering how strong we saw the US markets off overnight (on Tuesday). It is a good sign for the market that once we are clear of this issue going on in Washington, things could actually be looking up," Mr Lucas stated.
As for Mr Lucas, the partial U.S. government shutdown opens the room for unpredictability in the market. It seemed like that the shutdown will not be lifted soon he said.
"So get ready for more volatility," Mr Lucas added.
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