empty
 
 

2013.04.1501:49:07UTC+00Australian stocks slump, with pressure on miners

Australian stocks open a weak Monday action, with mining shares struggling following sharp drops in metals prices late last week. The S&P/ASX 200 diminished 43 points, or 0.9%, to 4,970.50. Newcrest Mining skid 5.9% in the wake of a 4% drop in gold on Friday to bear-market territory. May gold futures extended their declines on Monday. Shares of BHP Billiton Ltd. and Rio Tinto Ltd. each gave up more than 2% and Fortescue Metals Group off 3.5%. The three miners are each scheduled to release March-quarter production reports this week. Australian equities may also react to first-quarter growth and other economic data from China, Australia's biggest trading partner, due for release later Monday. The Australian dollar backslides to $1.0513 from $1.0546 late Friday.

  • 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 $1000 more!
    In April we raffle $1000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 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