Sonali Paul, Reuters Your browser does not support the audio element.
BP Plc said on Dec. 29 it has found no oil or gas at its Ironbark-1 exploration well off Western Australia, in what had been seen as a multi-trillion cubic feet gas prospect.
The result marked a big disappointment for BP s partners in the prospect, which had been seen as a potential gas supplier to the North West Shelf LNG plant, where BP is a co-owner, within five to 10 years. BP Australia can confirm that no significant hydrocarbons have been found at the Ironbark exploration well in Western Australia, the company said in an emailed statement.
Australian shares rose on Tuesday, notching broad-based gains after Wall Street stock indexes hit record highs overnight on the passage of a long-awaited U.S. pandemic aid bill, lifting sentiment and spurring hopes for an economic recovery.
On Tuesday the
S&P/ASX 200 Index (ASX: XJO) followed the lead of global markets and dropped lower. The benchmark index fell 1.05% to 6,599.6 points.
Will the market be able to bounce back from this on Wednesday? Here are five things to watch:
ASX 200 to rebound.
It looks set to be a much more positive day for the Australian share market on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 57 points or 0.9% higher this morning. This is despite a mixed night of trade on Wall Street. In late trade the Dow Jones is down 0.35%, the S&P 500 is flat, and the Nasdaq is up 0.45%.
On Monday the
S&P/ASX 200 Index (ASX: XJO) started the week in a subdued manner and recorded a small decline. The benchmark index fell a few points to 6,669.9 points.
Will the market be able to bounce back from this on Tuesday? Here are five things to watch:
ASX 200 expected to fall.
The Australian share market looks set to drop lower on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open the day 26 points or 0.4% lower this morning. This follows a mixed start to the week on Wall Street. In late trade the Dow Jones is up 0.25%, the S&P 500 is down 0.35%, and the Nasdaq has fallen 0.2%.
On Wednesday the
S&P/ASX 200 Index (ASX: XJO) was back on form and stormed higher. The benchmark index rose 0.7% to 6,679.2 points.
Will the market be able to build on this on Thursday? Here are five things to watch:
ASX 200 to rise again.
The Australian share market looks set to continue its rise on Thursday. According to the latest SPI futures, the ASX 200 is poised to open the day 27 points or 0.4% higher this morning. This is despite it being a reasonably mixed night of trade on Wall Street. Late on, the Dow Jones is down 0.3%, the S&P 500 is down 0.05%, and the Nasdaq is up 0.1%.