LOS ANGELES (MarketWatch) — Australian stocks gained out of the open Monday, shrugging off sharp drops last week over concerns of a potential debt default by Dubai World. The S&P/ASX 200 was 1.5% higher in early trade at 4,640.6. Financials were among the strongest advancers, with National Australia Bank Ltd. gaining 2.4%, Australia & New Zealand Banking Group ahead by 2.5%, and Macquarie Group Ltd. up 2.7%. Commonwealth Bank of Australia rose 1.9% after saying its exposure to Dubai World isn’t expected to be “material.”
Loading ...
Hi,
Australia is heading for the next credit crisis in 2010 with $50 billion of commercial lending coming up for maturity. The European markets have $350 billion in commercial lending coming up for maturity and the US as another round of mortgage resets of over $225 billion this credit crisis is far from over. Check out http://www.jpminvestmentgroup.com.au for more information.
JPM Investment Group