Fairfax shares hit all-time low: Afternoon market insights

Australian shares rose today, despite an up and down day on Wall Street, where early gains were erased due to an unexpected decline in new home sales.

At home, Fairfax Media shares hit an all-time low of $0.53, giving the company a market value of $1.23b. Fairfax shares were $0.90 a year ago and $6 in 2000.

At 2.30pm, the S&P/ASX 200 was up 0.44% to 4143.6 and the All Ordinaries Index rose 0.44%.

The Australian dollar is stronger. It was buying $US1.0314 late this afternoon.

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