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RBA cuts cash rate; Shares lower

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Australian shares finished the day lower with the S&P/ASX 200 down 1.48 per cent.

The S&P/ASX 200 fell 64.1 points, or 1.48 per cent, to 4257.2.

The All Ords was 63.3 points, or 1.45 per cent, lower to 4316.2.

In today's news, The Reserve Bank lowered the official cash rate by 25 basis points for the second consecutive month. The rate now stands at 4.25 per cent.

Among the major miners, BHP Billiton dropped $0.55, or 1.48 per cent, to $36.71 and Rio Tinto was $1.45, or 2.16 per cent, lower to 65.55,

In financials, ANZ dropped $0.06, or 0.29 per cent, to $20.99, CBA took off $0.26, or 0.52 per cent, to $49.70, NAB was $0.37, or 1.5 per cent, lower to $24.28 and Westpac dropped $0.23, or 1.06 per cent, to $21.46.

To energy, Woodside Petroleum was $0.71, or 2.08 per cent, lower to $33.48, Santos dropped $0.18, or 1.33 per cent, to $13.36 and Oil Search took off $0.07, or 1.07 per cent, to $6.48.

And in retail, Woolworths was $0.30, or 1.18 per cent, lower to $25.22 and Wesfarmers took off $0.40, or 1.23 per cent, to $32.20.

To Asia, the Nikkei was 120.87 points, or 1.39 per cent, lower to 8575.11 and the Hang Seng had dropped 326.07 points, or 1.7 per cent, to 18,853.62.

The Australian dollar was buying 101.73 US cents, 65.13 pence Sterling, 76.07 euro cents and 79.11 Japanese yen.

Published on: Wednesday, December 07, 2011

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