MARKET NEWS

Australian market set to open lower
20/04/2015 7:02 AM

The Australian market looks set to open lower following sharp falls on Wall Street on fresh worries about a Greek debt default as US President Barack Obama called on Greece to enact reforms.

At 0645 AEST on Monday, the June share price index futures contract was down 47 points at 5,818.

In local economic news on Monday, the Commonwealth Bank's Business Sales Indicator is due out.

No major equities news is expected.

In Australia, the market on Friday suffered its heaviest fall in almost two months due to weak US economic data and concerns about Greece's debt problems.

The benchmark S&P/ASX200 index fell 69.6 points, or 1.17 per cent, to 5,877.9 points.

The broader All Ordinaries index was down 66.1 points, or 1.12 per cent, at 5,851.5 points.

Heavy fall caps bad week for shares
17/04/2015 5:12 PM

The share market has suffered its heaviest fall in almost two months due to weak US economic data and concerns about Greece's debt problems.

Gains in oil prices kept the energy sector relatively steady, but all other sectors of the market dropped, delivering a fall of almost 1.2 per cent for the benchmark S&P/ASX200 index.

"A flat Wall Street lead has combined with negative momentum from yesterday which was brought about by the outperforming local jobs numbers, which has lessened the chance of a possible RBA interest rate cut in May," Quay Equities head of trading Tristan K'Nell said.

"Also adding to the negative tone was continued talk in Europe of Greeks debt and possible default."

Friday's fall caps the worst week for the share market since mid-January, due mainly to big changes in the iron ore industry this week in response to expectations of a long downturn in prices.

BHP Billiton dropped 26 cents to $29.97 on Friday, Rio Tinto shed 78 cents to $55.09 and Fortescue Metals was 8.5 cents weaker at $1.87.

In the energy sector, Woodside Petroleum slipped six cents to $35.42 and Santos gained three cents to $7.96 despite suffering a 24 per cent plunge in quarterly sales revenue.

Among the banks, Commonwealth Bank dropped 93 cents to $92.08, National Australia Bank lost 59 cents to $38.72, ANZ fell 42 cents to $35.60 and Westpac was 37 cents lower at $38.90.

Telstra dropped nine cents to $6.14.

KEY FACTS

* At the close on Friday, the benchmark S&P/ASX200 index was down 69.6 points, or 1.17 per cent, at 5,877.9 points.

* The broader All Ordinaries index was down 66.1 points, or 1.12 per cent, at 5,851.5 points.

* The June share price index futures contract was down 79 points at 5,865 points, with 29,964 contracts traded.

* The price of gold in Sydney at 1700 AEDT was $US1,200.25 per fine ounce, down $US4.65 from $US1,204.90 on Thursday.

* National turnover was $1.86 billion securities worth $5.16 billion.

Heavy fall caps bad week for shares
17/04/2015 4:40 PM

The share market has suffered its heaviest fall in three weeks due to weak US economic data and concerns about Greece's debt problems.

All sectors of the market fell, although gains in oil prices kept the energy sector relatively steady, delivering a fall of almost 1.2 per cent for the benchmark S&P/ASX200 index.

"A flat Wall Street lead has combined with negative momentum from yesterday which was brought about by the outperforming local jobs numbers, which has lessened the chance of a possible RBA interest rate cut in May," Quay Equities head of trading Tristan K'Nell said.

"Also adding to the negative tone was continued talk in Europe of Greeks debt and possible default."

Friday's fall caps the worst week for the share market since mid-January, due mainly to big changes in the iron ore industry this week in response to expectations of a long downturn in prices.

BHP Billiton dropped 26 cents to $29.97 on Friday, Rio Tinto shed 78 cents to $55.09 and Fortescue Metals was 8.5 cents weaker at $1.87.

In the energy sector, Woodside Petroleum slipped six cents to $35.42 and Santos gained three cents to $7.96 despite suffering a 24 per cent plunge in quarterly sales revenue.

Among the banks, Commonwealth Bank dropped 93 cents to $92.08, National Australia Bank lost 59 cents to $38.72, ANZ fell 42 cents to $35.60 and Westpac was 37 cents lower at $38.90.

Telstra dropped nine cents to $6.14.

KEY FACTS

* At the close on Friday, the benchmark S&P/ASX200 index was down 69.6 points, or 1.17 per cent, at 5,877.9 points.

* The broader All Ordinaries index was down 66.1 points, or 1.12 per cent, at 5,851.5 points.

* The June share price index futures contract was down 79 points at 5,865 points, with 29,964 contracts traded.

* National turnover was $1.86 billion securities worth $5.16 billion.