Australian Shares Likely to Rise With BHP Set to Jump -- Market Talk
September 24 2014 - 07:57PM
Dow Jones News
2320 GMT [Dow Jones] Australia's share market could recoup some
of the previous day's loss after U.S. stocks ended higher. IG
forecasts a rise of 31 points to about 5407 on the ASX 200, with
heavily weighted BHP Billiton (BHP.AU) poised to jump as Chinese
markets continue to bounce off Monday's lows. Market strategist
Evan Lucas says a gain in the benchmark index would add to a
consolidation patter developing around the 5400 level. "The banks
remain the key driver of the market's performance...after
yesterday's slide in the big four the bounce is likely to be driven
again by trade in the banks," he says. BHP's U.S. ADRs added 1%
overnight. The ASX 200 ended Wednesday down 0.7% at 5375.8.
(robb.stewart@wsj.com; Twitter: @RobbMStewart)
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