Stock Index Tops 4000
The main index for the Australian stockmarket, the All Ordinaries price index, closed above 4000 for the first time today. The index closed trading at 4018.3. The last thousand barrier at 3000 was reached in March 1999. However these numbers have little signifigance in themselves - it's just like watching your car's distance indicator change to a lead number plus all zeros. The real signifigance is the percentage change in the index over time. Since the index reached 1000 in 1985, it has increased by 7.6%pa compound. This compares to Australian Median house prices which have increased by 9.2%pa compound and the CPI price index which has increased by 3.7%pa.
Posted Tuesday, 21 December 2004
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