Australian Market Report of February 20: Refreshed Sign of Deeper Recession

  Sydney, Australia, Feb 20, 2009 - (ABN Newswire) - Overnight US market closed at six-year lows after the Labor Department said that the continuing claims for unemployment benefits rose to a record high at almost 5 million, a refreshed sign the recession is deepening. Worries over the fate of major banks also weighed down the market. The Australian shares ended higher yesterday on the back of some better-than-expected earnings reports.  

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