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CORR - STOCKS - AUSTRALIAN SHARES OPEN FIRMER - APRIL 1, 2008.
SYDNEY, April 1 Asia Pulse - The Australian sharemarket opened firmer but then slipped into the red, pulled back by the energy sector after oil prices fell overnight by more than
a barrel.
At 1015 AEDT, the benchmark S&P/ASX200 index was down 7.7 points at 5348, while the broader All Ordinaries fell 10.2 points to 5399.5.
However, the Sydney Futures Exchange, the June share price index contract pointed the way higher adding four points at 5401 on 5,459 contracts.
Oil prices fell by more than $US4 a barrel on speculation inventories rose for the 11th straight week and on continued concerns over the slowing US economy.
Crude oil for May delivery fell 3.8 per cent to $US101.58 per barrel.
The big energy stocks were mixed with Woodside falling 90 cents or 1.65 per cent, to $53.60, Santos lost one cent to .49 and Oil ...
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Source: HighBeam Research, CORR - STOCKS - AUSTRALIAN SHARES OPEN FIRMER - APRIL 1, 2008.