Expected low Australian shares
Wednesday trading at the Sydney Futures Exchange could see a drop in Australian shares due to a very slight change in US stocks and a drop in commodity prices.
Shares in the U.S. market reached their four-month highs but closed low even after the U.S. Federal Reserve said it would further stimulate the U.S. economic recovery. The December share price index contract at the Australian market was eight points lower at 4,640.
On Tuesday, the benchmark S&P/ASX200 closed 13.8 points lower (0.3 percent) at 4617.5 points. The broader All Ordinaries index shed 12.2 points (0.3 percent) to 4664.9.
Miner Rio Tinto Limited (ASX: RIO) increased by 25 cents at $75.23, but BHP Billiton Limited (ASX: BHP) was lost 6 cents at $38.72.
Among the treasurers, Commonwealth Bank of Australia (ASX: CBA) shares were fortunate to increase. CBA shares went up slightly by four cents to settle at $52.62. Westpac Banking Corporation (ASX: WBC) slid 11 cents at $23.32. The National Australia Bank Limited (ASX: NAB) also went down 10 cents at $25.76. The Australia and New Zealand Banking Group (ASX: ANZ) also dropped 16 cents at $23.80.
The retailers continue the struggle. Woolworths Limited (ASX: WOW) slipped six cents at $28.53 and Harvey Norman Holdings Limited (ASX: HVN) slipped one cent at $3.87. David Jones Limited (ASX: DJS), however, remained at $5.20.
Even the transport groups continue to struggle. Toll Holdings Limited (ASX: TOL) slightly went down by two cents at $6.65. Qantas Airways Limited also slipped one cent at $2.67.