SYDNEY - The Australian share market closed moderately lower on Tuesday led by the materials sector and as investors acted cautiously.
The benchmark S&P/ASX200 index was down 13.7 points, or 0.29 per cent, to 4663.7 points, while the broader All Ordinaries index had fallen 13 points, or 0.28 per cent,
to 4671.1 points.
AT 1615 AEST, the Sydney Futures Exchange, the December share price index contract was 22 points lower at 4672 points on a volume of 15,958 contracts.
IG Markets research analyst Ben Potter said investors had been cautious as the market moved in and out of positive territory throughout the day.
"Financials and materials opened the session lower, they did recover in the middle of the day but financials are still above water slightly but materials have drifted a little bit, "Mr Potter said.
"The energy sector is also struggling.
"We're on very low volumes, everyone seems to be sitting back and waiting for the next thing to happen but no one wants to be the first to make the move."
BHP Billiton dropped eight cents to $38.00 while rival Rio Tinto sank 33 cents to $60.36.
Energy stock were lower. Woodside Petroleum shed 69 cents to $50.54, Oil Search was eight cents lower at $6.32 and Santos backtracked 19 cents to $15.08.
In the US on Monday, the Dow Jones industrial average fell 41.34, or 0.4 per cent, to 9,778.86.
The major banks were mixed. National Australia Bank fell seven cents to $29.47, Westpac added eight cents to $24.96, Commonwealth Bank eased three cents to $48.87 and ANZ rose 18 cents to $23.33.
In news on Tuesday, Westpac group executive for people, Ilana Atlas, will retire from the bank in December 2009.
Shares in gold miner Apex Minerals NL were in a trading halt ahead of a capital raising expected to raise $100 million to support the company's proposed recapitalisation and restructure.
The shares last traded at 9.8 cents.
Internet service provider iiNet says it is looking for acquisitions to quickly boost the size of the company, and its shares lifted two cents to $2.12.
Coal producer New Hope Corporation says lower prices and a stronger Australian dollar exchange rate will hit its earnings this year, after reporting a bumper profit for fiscal 2009.
New Hope dropped four cents to $5.76.
Wesfarmers managing director and chief executive Richard Goyder says he is confident Australia is through the worst of the global economic downturn.
Coles owner Wesfarmers fell six cents $26.19 while Woolworths dropped 11 cents to $28.80 and David Jones sank 18 cents, or 3.17 per cent, to $5.50.
The major banks were mixed. National Australia Bank fell seven cents to $29.47, Westpac added eight cents to $24.96, Commonwealth Bank eased three cents to $48.87 and ANZ rose 18 cents to $23.33.
In news on Tuesday, Westpac group executive for people, Ilana Atlas, will retire from the bank in December 2009.
Shares in gold miner Apex Minerals NL were in a trading halt ahead of a capital raising expected to raise $100 million to support the company's proposed recapitalisation and restructure.
The shares last traded at 9.8 cents.
Internet service provider iiNet says it is looking for acquisitions to quickly boost the size of the company, and its shares lifted two cents to $2.12.
Coal producer New Hope Corporation says lower prices and a stronger Australian dollar exchange rate will hit its earnings this year, after reporting a bumper profit for fiscal 2009.
New Hope dropped four cents to $5.76.
Wesfarmers managing director and chief executive Richard Goyder says he is confident Australia is through the worst of the global economic downturn.
Coles owner Wesfarmers fell six cents $26.19 while Woolworths dropped 11 cents to $28.80 and David Jones sank 18 cents, or 3.17 per cent, to $5.50.
By 1648 AEST, the spot price of gold in Sydney was $US1008.50 per fine ounce, up $5.20 on Monday's closing price of $US1003.30.
Among the gold stocks, Lihir inched four cents higher to $3.00, Newcrest surged 37 cents to $33.67 and Newmont was six cents weaker at $5.13.
The most traded stock by volume was Boart Longyear with 154.47 million shares worth $46.21 million changing hands.
Its shares were 1.5 cents, or 5.17 percent, higher at 30.5 cents.
Preliminary market turnover was 2.75 billion shares worth $4.51 billion, with 510 stocks up, 643 down and 329 steady.
- AAP
SYDNEY - The Australian share market closed moderately lower on Tuesday led by the materials sector and as investors acted cautiously.
The benchmark S&P/ASX200 index was down 13.7 points, or 0.29 per cent, to 4663.7 points, while the broader All Ordinaries index had fallen 13 points, or 0.28 per cent,
AdvertisementAdvertise with NZME.