Blame Laid On Banks
Newcastle Herald
Tuesday February 19, 2008
HEAVY losses from the banks, led by a 6 per cent fall by ANZ, drove the Australia sharemarket lower, amid global credit fears and slowing US economic growth.
The benchmark S&P/ASX200 Index was 48.2 points lower at 5558.4 and the All Ordinaries dropped 45.8 points to 5634. Commonwealth Bank, which went ex-dividend, lost $2.38 to $44, National Australia Bank fell $1.13 to $29.51, Westpac dropped 86 cents to $22.50 and ANZ plunged $1.45 to $22.46.The retail sector was mixed with David Jones adding 10 cents to $4.05, Woolworths falling two cents to $27.10 and Harvey Norman slipping 22 cents to $4.60. Wesfarmers, which owns Australia's second largest retailer, Coles, put on 12 cents to $38.52. In media stocks, Consolidated Media Holdings gained two cents to $4.39, News Corp lost 11 cents to $22.19 and its non-voting shares dropped 11 cents to $21.33.Fairfax was steady at $4.03. The energy sector was stronger with Woodside putting on 90 cents to $50.75, Santos gaining 59 cents to $14.24 and Oil Search adding four cents to $4.28. The big miners were weaker, with BHP Billiton falling 33 cents to $38.96 and rival Rio Tinto losing $3.10 to $134. AAP
© 2008 Newcastle HeraldNews Archive
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