Australian Market Report of October 16: Market Boosted by Higher Oil Prices

  Sydney, Australia, Oct 16, 2009 - (ABN Newswire) - US stocks climbed to a 2009 new high on Thursday, as the oil prices surge buoyed energy companies. New York crude oil futures rose more than 3 per cent to a one-year high of US & #36;77.58 a barrel after the government said US gasoline reserves fell sharply last week. The financial and IT stocks retreated over mixed economic data and corporate outlook.  

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