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The local share market has closed higher today. The All Ords ended the session up 19 points, or 1/3 of a percent. The ASX 200 added the same amount. The big banks finished mixed. Commonwealth1 added 2/3 of a percent. There were some good results among the retailers2. Myer put on almost 1% and BHP Billiton closed 1% higher. Checking elsewhere in our region now, Japan’s Nikkei is on the rise, but Hong Kong’s Hang Seng is losing ground. And the Australian dollar has recovered a little from its five and a half year low of 77.2 US cents. It’s currently fetching at 77.95.
Private research has found the cut to mortgage interest rate would not benefit households as much as the recent drop in petrol prices. Ratings agency Fitch has released its analysis in the wake of mounting speculation3 that the reserve bank could make a cut at next week’s meeting. Fitch says for the average mortgage holder4, driving an average amount, cheaper petrol clearly provides more benefit.
And Origin Energy second quarter production has fallen but the group has reaffirmed its Australia-Pacific LNG project is on track. The company’s output for the three months till the end of December fell 4% on the previous year. That’s a decrease of 10% year on year. Lower production and commodity prices also saw the group’s revenues plummet(not sure).
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1 commonwealth | |
n.共和国,联邦,共同体 | |
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2 retailers | |
零售商,零售店( retailer的名词复数 ) | |
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3 speculation | |
n.思索,沉思;猜测;投机 | |
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4 holder | |
n.持有者,占有者;(台,架等)支持物 | |
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