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Aussie shares drop over 1.2%

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Australian shares were lower at midday following falls on Wall Street over the weekend as the SEC charged Goldman Sachs with fraud.

The S&P/ASX 200 dropped 64.6 points or 1.3 per cent to 4920.1.

The All Ords was 62.5 points or 1.25 per cent lower to 4944.8.

Among the major miners, BHP Billiton fell $0.65 or 1.49 per cent to $42.89 and Rio Tinto was $1.27 or 1.59 per cent lower to $78.40.

In financials, CBA lost $0.78 or 1.3 per cent to $59.05, Westpac was $0.45 or 1.6 per cent lower to $27.73, NAB took off $0.44 or 1.55 per cent to $27.93 and ANZ was $0.42 or 1.63 per cent lower to $25.27. Macquarie Group fell $1.43 or 2.77 per cent to $50.16.

In gold mining, Lihir Gold was $0.01 or 0.25 per cent higher to $3.99 and Newcrest Mining took off $0.46 or 1.33 per cent to $34.15.

To energy, and Woodside Petroleum lost $0.69 or 1.48 per cent to $46.03 and Santos dropped $0.34 or 2.36 per cent to $14.08.

And among the retailers, Woolworths was $0.10 or 0.37 per cent lower to $27.18 and Wesfarmers took off $0.49 or 1.51 per cent to $31.90.

Among the airlines, Qantas fell $0.07 or 2.35 per cent to $2.91 and Virgin Blue plummeted $0.04 or 6.11 per cent to $0.62.

Around Asia, the Nikkei was 194 points or 1.75 per cent lower to 10,908.2 and the Hang Seng fell 307 points or 1.4 per cent to 21,558.3.

The Australian dollar was buying 92.12 US cents, 60.3 pence Sterling, 68.47 Euro cents and 84.84 Japanese yen. 

Published on: Monday, April 19, 2010

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