empty
 
 

2013.05.2100:30:00UTC+00Australian stocks drop, with bank shares in the red

Stocks in Australia decline Tuesday in early trade, as losses in banking issues put the equity benchmark under pressure. The S&P/ASX 200 surrendered 0.4% to 5,190.40, nearly giving back the gain of 0.5% from the past session. Stock in Australia & New Zealand Banking Group and Westpac Banking Corp. relinquished 0.9% and 0.6%, respectively, though Macquarie Group Ltd. fought to hang onto a fractional advance. Retailer Wesfarmers Ltd. off tracked 0.7%, falling alongside other stocks in the sector. But mining shares were mixed, with Newcrest Mining Ltd. climbing 6.1%, while BHP Billiton Ltd. traded 0.4% lower. Hit hard in Tuesday's session were shares of Transfield Services Ltd., skid 22% after the contractor reduced its yearly profit forecast for a second time this year. Transfield also plans to layoff 113 workers.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $4000 more!
    In July we raffle $4000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback