Australian Stock market Ordinaries index down december 15 2011

Indonesia stock info - Australian Stock market Ordinaries index down december 15 2011 ; The Australian sharemarket is doing it tough at lunch with the All Ordinaries index (XAO) down 1.3 pct or 55.1 pts to 4194.7. Today's weakness has effectively wiped out almost all of this month's gains.

The mining and energy sectors are the worst performers with mining giant RIO Tinto (RIO) down 2.58 pct or $1.63 to $61.53 while the larger BHP Billiton (BHP) is 2.02 pct or 72 cents weaker to $34.99. RIO is currently trading at its lowest level in around two months while BHP is at its low point for the month.

The four major banks are also dragging the market deeper into the red with Westpac (WBC) down 1.68 pct or 35 cents to $20.45, National Australia Bank (NAB) is off 1.61 pct or 38.5 cents to $23.47, Commonwealth Bank of Australia (CBA) is down 1.48 pct or 72 cents to $48.66 and ANZ Banking Group (ANZ) is 1.19 pct or 25 cents weaker to $20.72.

NAB is holding its Annual General Meeting (AGM) with shareholders today. The major bank has indicated that the uncertainty in Europe is pushing up funding costs and that 2012 is expected to be a challenging year.

On the economic front, a report has shown that Australians are still shying away from purchasing big ticket items. The number of new cars sold last month fell by 0.7 pct.

Both China and Japan are both releasing an update on the state of their manufacturing sectors today.

The Australian dollar (AUD) is weaker and buys US99 cents.

The AUD is the world's fifth most traded currency behind the U.S dollar, the Euro, Japanese Yen and British Pound. The AUD accounts for around 7 pct of all foreign exchange trades.


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