SYDNEY (AFX) - Share prices are expected to open slightly lower in a quiet post New Year trade, dealer said.
They said with extended market holidays in the US and Japan, most investors will be content to stay on the sidelines even though market sentiment remains positive.
In the US, financial markets will remain closed on Tuesday in remembrance of late US President Gerald Ford.
The Australian market finished 2006 at record highs in a shortened trading session last Friday.
A strong December quarter saw the benchmark S&P/ASX 200 index rise 19 pct over the year, outstripping a 17.6 pct rise in 2005.
Commonwealth Bank of AustraliaÂ’s CommSec broking arm sees the key index climbing to around 6,159 by the end of 2007.
On Friday, the S&P/ASX 200 rose 9.4 points or 0.17 pct to finish at a new all-time high of 5,669.9. It was the third day in a row for the index to post a record close.
During the session the benchmark index also touched to a fresh intraday all-time high of 5,684.4.
The All Ordinaries Index advanced 10.3 points to end at a new record high of 5,644.3, after touching a fresh intraday record of 5,657.4. For the year the broad market index rose 935.5 points or 19.9 pct compared with a rise of 16.1 pct in 2005.
In New York on Friday, share prices ended mildly lower in quiet end of the year trade after the Dow Jones Industrial Average smashed through the 12,500 points barrier on Wednesday for the first time in a broad rally sparked by further signs that the slowdown in the US housing sector has run its course.
The Dow Jones Industrial Average ended down 38.37 points at 12,463.15. News Corp ended down 0.54 pct while National Australia Bank's American Depositary Receipts finished off 0.46 pct.
In London, share prices ended the year slightly lower in thin volumes as investors locked in profits ahead of the holiday break. The FTSE 100 dropped 20.1 points to settle at 6,220.8.
BHP Billiton finished down 0.21 pct while Rio Tinto eased 0.07 pct.
Crude oil prices rose on Friday as traders squared positions ahead of a four-day break.
The February crude contract rose 52 cents to close at 61.05 usd a barrel on the New York Mercantile Exchange, little changed compared to a year ago.
Base metal prices ended 2006 mixed in London. Copper fell to eight-month lows, pressured by higher stocks and a lack of Chinese buying.
In New York, the price of gold finished 2006 at a three-week high, assisted by oil price gains and a weaker US dollar. The February benchmark gold contract rose 1.90 usd to close at 638.80 usd an ounce on the New York Mercantile Exchange.
Ahead in Australia, the Australian Industry Group will release its performance of manufacturing index for December.
(1 usd = 1.27 aud)
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