Stock Markets struggled by the election uncertainty
The uncertainties of the outcome of the federal election of Australia have left a depressing effect on the markets of the country. According to the experts, the uncertainty of the election has made the investor more nervous in the final full week reporting season of the companies.
The Australian dollar went slightly higher in the afternoon trading after a loss of one US cent in the morning trade because of the uncertain result of the election.
The market opened lower but then by the midday the S&P index rose up by 0.6% or 2.7 points and reached to 4433.6 points. Meanwhile the All Ordinary index rose up by 0.05% or 2.3 points to 4464.4 points.
According to the client adviser of Cameron securities, Adrian Leppinus most of the investors are not in the mood of trading because of the election uncertainty. None of the investors are willing to trade till the election uncertainty settles down. But the loss of the Australian Labor party of its Lower House has boosted some of the mining stocks. Experts are expecting a big rise in the stock markets after the federal election.
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