Australian Market Report of May 18: Market Softened on US Economy Outlook

  Sydney, Australia, May 18, 2009 - (ABN Newswire) - US stocks ended the week lower Friday with drops in financials and energy companies. Financial sector was hit by Fitch Ratings' warning that it is considering lowering credit ratings on nine U.S. financial companies. Falls in oil prices also weighed down the energy firms.Australian shares gained 1.3% on Friday but still lost 4.3% for the week. The benchmark S & amp;P/ASX200 index was 49.  

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