Share carnage Chris Zappone October 10, 2008 - 10:28AM
Australian shares fell to a new three-year low, dragging the value of the benchmark share index below $1 trillion as the market headed for its worst week since the 1987 collapse. The S&P/ASX200 index opened 5.5% lower, losing 235.5 points to 4085.4 - its lowest point since May 2005. It recently traded at 4120.8, a fall of 200 poitns, or 4.6% for the day. In early trading, 196 shares were down, and only one share was higher. BHP Billiton was down as much as $1.69, or 5.7%, to $28.15. Rio Tinto was off another $4.71, or 6%, to $73.30. Fortescue Metals is down as much as 55 cents, or 17%, to $2.75. The Commonwealth Bank was down as much as $2.65, or 6.3%, at $39.75. while ANZ lost 83 cents, to 5%, to $15.82. Westpac was down as much as 98 cents, or 4.6%, to $20.62 and NAB lost as much as $1.32, or 5.6%, to $22.41. Macquarie Group sank $3.30, or 10%, to $28.20. The energy sub-index fell the most, losing 8.1%, materials shed 6%, while financials were down 5.3%. Woodside Petroleum felll as much as $4.17, or 10%, to $37.75, while Santos fell $1.19, or 8.4%, to $12.91. Spot gold is at $US915.02, up 3% overnight, but not enough to prevent gold miners from falling. Lihir Gold fell as much as 15 cents, or 5.7%, to $2.49 and Newcrest fell gave up $1.26, or 4.7%, to $25.44. The Aussie dollar lost more than 2 US cents in morning trade, and recently traded at 68.17 US cents. It fell even more against the yen, losing 3.8% to trade recently at 67.73 yen. [EMAIL PROTECTED] --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
