Aussie shares limp ahead to end four week loss streak
By Adrian Black
Australian stocks are struggling to keep their heads above water after a terrible day of trading. -AAP Image
Australian shares have scraped through to end a four-week losing streak, but investor confidence remains shaky as inflation, interest rates and a challenging earnings environment loom.
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The S&P/ASX200 rebounded by 67.7 points on Friday, up 0.79 per cent, to 8,682.1, as the broader All Ordinaries rose 60.3 points, or 0.69 per cent, to 8,854.7.
The final session took the leading index 0.2 per cent higher for the week, swinging high and low as traders digested an interest rate hike, better-than-feared inflation numbers and a raft of unresolved market risks.
The top-200 remains under pressure, shrinking 6.7 per cent since early August's all-time high after housing market fears sparked a banking sell off, with miners following in September as oil prices soared.
The Australian dollar is buying 69.33 US cents, down from 69.53 US cents on Thursday at 5pm.
