Australian share prices are expected to remain volatile this week after closing Friday ahead for the day but down for the week, dealers, dealers said. They said the week had seen a spate of full-year results, including Qantas and construction group Multiplex, and results were expected from market heavyweight BHP Billiton and retailer Woolworths in coming days.
Shaw Stockbroking head dealer James Spiteri said profit announcements had affected trading through their mixed success and more volatility was expected in the coming week. "It just shows you the volatility that is out there and the inconsistencies in some of the share price movements across the board," he said.
"This is brought about by individual factors, individual profit reports and also a bit of rumour and speculation," he told Australian Associated Press.
UBS said in a research note that Australian shares were following a worldwide trend for better-than-expected profit reports. "Results so far confirm buoyant conditions for commodity producers, non-residential, engineering, 'mining-related' and financial services," UBS said.
Housing-related, discretionary retail, telecommunications and airlines were the weaker sectors, it added.
For the week ending August 19, the SP/ASX 200 index closed down 7.6 points at 4,461.6.
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