Markets Today

By Glenn Dyer | More Articles by Glenn Dyer

Aussie shares were weaker today, with investor sentiment turning sour on the retail and finance sectors.

The benchmark S&P/ASX200 Index lost 9.8 points 5,371.60, whilst the broader All Ordinaries was steady, down 2.8 points to 5,418.

The big miners rose on the back of a rebound in commodities overnight, BHP Billiton rose 37 cents or 1.05% to $35.68 while Rio Tinto gained $2.50 or 2% to $120.77.

Shares in uranium explorer, Bannerman surged 11% to $2.22 after it revealed it is set to list on the Namibian Stock Exchange.

Manufacturer of crop protection chemicals, Nufarm said it is positive in regard to the remainder of the financial year 2008, despite posting a 71% fall in interim results. Its shares fell 2% or 34 cents to $16.45.

In the media, Ten Network added 2 cents to $2.24 after it delivered a half-year profit of $270.5 million. News Corporation lost 32 cents to $21.01.

Consolidated Media Holdings rose 5 cents to $3.72.

Banking stocks fell. ANZ lost 27 cents to $23.85, Westpac fell 22 cents to $24.58 while NAB gained 40 cents to $30.75 and CBA fell 80 cents to $42.30. Babcock and Brown shares finished 5.2% or 79 cents down at $14.21 after it said it has received support for its corporate debt from 25 banks.

Upmarket retailer David Jones lost 12 cents to $3.59.

Woolworths shed 61 cents to $28.76, and Coles-owner Wesfarmers slid 33 cents to $38.35.

About Glenn Dyer

Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.

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