AUSTRALIAN Share Market Down 0.2 Percent

A fall in resource stocks pushed the Australian share market down Monday, after sharp falls on the London Metals Exchange last week and ahead of BHP Billiton's results Wednesday.

The benchmark S&P/ASX 200 index fell 9.4 points or 0.2 percent to 5,822.1 after traversing a range of 5,801.4 to 5,829.5.

Dealers were keeping an eye on commodity prices while awaiting mining giant BHP Billiton's first half results, due Wednesday.

Zinifex fell 4.8 percent after zinc lost 9.1 percent on the London Metals Exchange Friday.

BHP fell 0.7 percent and Rio Tinto dropped 2.3 percent after copper fell 4.6 percent on the exchange.

Woodside Petroleum rose 1.4 percent on gains in crude prices.

"I think you are starting to see people, not just in resources, reconsider what they are owning," said Charlie Aitken, head of institutional dealing at Southern Cross Equities.

Multiplex rose 5.5 percent after Toronto-based Brookfield Asset Management confirmed it has approached Multiplex with a non-binding, indicative proposal to buy its non-property trust assets.




Copyright 2006 Associated Press.
All rights reserved.
This material may not be published broadcast, rewritten, or redistributed

No comments:

Post a Comment