The market finished the week at 5502.63, down 67.86 points from the previous week's close of 5570.50. On Friday's trade the All Ordinaries finished down 57.77 points or 1.04 per cent.
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On Monday, the Australian market started the week on a low point, as energy stocks were under pressure from heavy falls in oil prices on the weekend. Sell-offs in the big banks and miners further exaggerated the downward slide, with the market finishing well below the red line. Most sectors experienced negative results, with only telecommunication services and utilities eking out marginal profits. The Australian dollar appreciated against the greenback, and had mixed results against other major currencies.
On Wednesday, Ardent Leisure Group announced that the Whitewater World water park and Dreamworld theme park will re-open to guests on 10 December following the successful completion of the mechanical and operational safety review. The closure of both Dreamworld and Whitewater World throughout the month of November will result in no significant revenue being recorded for November. AAD dropped 2 cents to $2.14 on Wednesday and then ended Fridays trade at $2.17.
On Friday's trade infant formula maker Bellamy's Australia fell by over 43 per cent after it announced that recent sales were below expectations. Bellamy's was down $5.28 on Friday to finish the week at $6.85.
Shares in the makers of sleep disorder treatments Fischer & Paykel Healthcare (FPH) rose 3.6 per cent after the favourable ruling from the District Court in Munich. The Court overturned both preliminary injunctions previously granted to competitor Resmed, Inc against FPH sales of sleep masks in Germany. FPH finished the week at $8.15.
At the close of weekly trading, the gold price finished at $1173.30 per ounce, the WTI oil price traded at $50.93 a barrel, and the Australian dollar was worth US $0.7452.
In the US, the Dow Jones finished down 21.51 points to end the week at 19,170.42. This result has caused the Share Price Index to finish up 21 points at 5465.