Australian Market Report of July 16, 2010

  Sydney, Australia, July 16, 2010 - (ABN Newswire) - Australian shares opened flat this morning. Wall Street overnight closed in the red despite the US market pared most of its early losses after news of halted flow of oil into the Gulf of Mexico. The losses were caused by disappointing economic data including inflation figures, manufacturing in New York and industrial production across the country.  

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