Australian Market Report of May 12: Caution Ahead of the Federal Budget

  Sydney, Australia, May 12, 2009 - (ABN Newswire) - Overnight US stocks fell sharply as investors locked in gains after weeks of rally. Some banks and financial institutions' decision on capital raising also weighed down the market. The Australian share market ended lower on Monday, dragged by miners and banks. The market was cautious ahead of the federal budget which will forecast a record deficit tonight.  

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