Aust. bad week
NZPA-AAP Sydney Worse-than-expected local and American trade balances, fears of interest rates rises and gold and platinum price falls ushered in a bad week for Australian sharemarkets last week.
The effect of the bad tidings still had time to run, dealers said. Overseas markets had not reacted to the latest Australian trade figures. One dealer said the platinum price would fall further
when trading in the metal resumed, and the gold price and the Australian market would be dragged down further.
Platinum trading was automatically suspended after the metal plunged SUS2S on Thursday night. The worst news the market received all week was Friday’s announcement of an Australian current account deficit of sAustl.s4 billion in November — more than double some forecasts.
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Press, 19 December 1988, Page 28
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124Aust. bad week Press, 19 December 1988, Page 28
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