Nemo
Joined : 26 Dec 2007
Posts : 3197
Location : Mariana Trench -- Hey Feds, come and get me!
Humor : Black
 |  Subject: OZschwitz: Sharemarket finishing off their worst financial year in 26 years  Sun Jun 29, 2008 6:27 pm | |
| AUSTRALIAN sharemarket investors should brace for more pain to come as they are finishing off their worst financial year in 26 years today, fund managers and economists have warned.
"I'm fearful there could be further declines ahead," Rob Henderson, the chief economist at NAB Capital, said yesterday.
With the economy slowing down rapidly and the US either in recession or very close to it, "there is lots of bad earnings ahead and the high oil price is definitely having an impact right around the world", Mr Henderson said.
The sober outlook comes as the benchmark S&P/ASX 200 index is heading for its first fall after five years of double-digit gains, heading for a loss of more than 16 per cent in the 2007-08 financial year.
LNK
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