Sharemarket rebound: Market round-up
Tuesday, October 23, 2007/
Australian markets look set to recover much of the value lost in yesterday’s drubbing, with the S&P/ASX 200 picking up 0.9% to 6635.3 by 12.20pm.
The rebound follows a strong performance on US markets overnight after a key finance house announced a $1 billion dollar investment from China, in turn feeding through to a strong performance by financial institutions in Australia.
At the same time the Australian dollar is trading at 88.89c, down slightly on yesterday’s 89.01c close.