Aussie shares lower; S&P/ASX 200 fall 1.01%
Australian shares finished the day lower after gaining in early morning trade.
The S&P/ASX 200 closed 39.3 points, or 1.01 per cent, lower to 3863.9.
Among the miners, BHP Billiton lost $0.60, or 1.74 per cent, to $33.95 and Rio Tinto was $2.45, or 3.91 per cent, lower to $60.20.
The Big Four banks were higher. ANZ added $0.03, or 0.16 per cent, to $18.78, CBA put on $0.52, or 1.2 per cent, to $43.85, NAB rose $0.15, or 0.71 per cent, to $21.16 and Westpac rose $0.46, or 2.46 per cent, to $19.19.
In energy, Woodside Petroleum lost $1.57, or five per cent, to $29.80, Santos fell $0.45, or 4.15 per cent, to $10.40 and Oil Search was $0.10, or 1.79 per cent, lower to $5.50.
And in retail, Wesfarmers added $0.62, or 2.08 per cent, to $30.47 and Woolworths gained $0.20, or 0.81 per cent, to $24.77.
To Asia, the Nikkei had lost 186.13 points, or 2.17 per cent, to 8374.13 and the Hang Seng was 571.36 points, or 3.23 per cent, lower to 17,097.47.
The Australian dollar was buying 96.3 US cents, 62.31 pence Sterling, 71.93 euro cents and 73.5 Japanese yen.
Published on: Tuesday, September 27, 2011blog comments powered by Disqus
Today on Switzer
Takeover target expert Tom Elliott of Beulah Capital reveals the companies that could be in for some market attention – does Myer make the cut? (Broadcast Wednesday 17 September 2014.)
As the doomsday merchants talk of a hard landing for China, HSBC chief economist Paul Bloxham sorts fact from fiction on the tiger economy. (Broadcast Wednesday 17 September 2014.)
Well, the week that could have been a shocker for stocks – with Scotland, the Fed, and the European Central Bank (ECB) all coming out with big decisions – ended up working out to be positive rather than negative for optimistic investors.
The coming week will again be largely devoid of 'top shelf' indicators in Australia. But the data and reports that are released will fill in some of the blanks about the state of the Australian economy.
I expect some crazy times on markets over the next six months but I reckon by this time next year, we will have made money out of the stock market. My best advice is ‘fight fear’!
The baton continues to be passed from mining to other parts of the economy.