AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)

Australian shares are expected to continue their unexpected ride higher, as confident investors return from the sidelines with their cash, dealers said. The benchmark S&P/ASX 200 ended Friday at 4,693.2, up 97.1 points or 2.1 percent from a week earlier.
"This week was really kind of the killer for that 'September effect' phenomenon," said CMC Markets analyst David Taylor. "We were looking for (this week) to be quite a catalyst for a big downturn of the market, that hasn't eventuated. September's looking like it will continue to move upwards," he told AFP.
The one-year anniversary of Lehman Brothers' collapse was accompanied by good economic news and positive commentary from the US Federal Reserve, said AMP Capital Investors chief economist Shane Oliver. "(The anniversary) probably also helped push shares higher because it provided a reminder that the world economy has proved far more resilient than had been feared by many a year ago," said Oliver. "The drip-feed of good news and the absence of a decent correction in share markets is forcing many investors who have remained in cash over the last six months to start putting their money to work in shares, which in turn is helping fuel the upwards pressure on share markets," he added.
Taylor said stocks would take their lead from housing and jobs data from the United States, and gold and oil prices, as well as a meeting of G20 leaders in Pittsburgh at the week's end. "(The meeting will) give us an idea of what the leading financial experts around town are thinking," said Taylor. "Assuming all those indicators are positive we should have another positive week leading into October."

Copyright Agence France-Presse, 2009

Comments

Comments are closed.