Aussie shares drop over 1.2%
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.
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, 2010blog comments powered by Disqus
Today on Switzer
Geoff Wilson from Wilson Asset Management reveals a new innovation – the Future Generation Investment Fund - which gives investors an opportunity to invest in Australia and its future.
Putin's power: can Europe stand up to Russia given its energy dependence – and if so, could this give way to the overdue correction on stock markets? Marcel von Pfyffer from Arminius Capital shares his take on Switzer TV.
The two things that the US market might be worrying about are: first, the end of Quantitative Easing and secondly, the likely increases in the Fed Funds rate in 2015.
Who is Phil Stanton of Mullaway and why is he saying such horrible things about Peta Credlin? This was my reaction to a Letter to the Editor in the SMH yesterday.
Portfolio manager Nathan Lim explains the principles-based charter underpinning superannuation and investment fund manager Australian Ethical.
Morgans’ Simon Bond argues that in the low interest rate environment, the search for yield is driving the Australian market. He shares the grossed-up yield of several leading local companies.