Australian Market Report of May 29: Helped by Rising Oil Prices

  Sydney, Australia, May 29, 2009 - (ABN Newswire) - Wall Street finished higher overnight buoyed by a surge in oil prices. A successful auction of sever-year Treasury notes also helped restore investor's confidence. The US Labour Department said new unemployment claims fell in the past week, better than forecast by most analysts.The Australian share market closed lower with a broad-based selling off after Wall Street's tumble.  

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