Business Services Industry
Lower metal prices hit shares.
Australasian Business Intelligence, September, 2006
Sep 12, 2006 (The Australian - ABIX via COMTEX) -- Mining and energy stocks weighed down the Australian sharemarket on 12 September 2006. Shares in mining giants BHP Billiton and Rio Tinto both fell more than five per cent to $A24.65 and $A67.39 respectively. The spot price of gold dropped $US1.50 to $US594.80, dragging down gold miners with it. Newcrest Mining was down $A0.05 to $A20.82, Newmont lost $A0.23 to $A6.07 and Lihir Gold fell $A0.11 to close at $A2.77. Crude oil prices fell for the sixth session in a row, hitting producers hard. Woodside Petroleum lost $A2.67 or almost seven per cent, closing at $A35.87. Oil Search had a similar fall. However lower oil prices helped Qantas Airways rise 2.6 per cent to $A3.53. A move to defensive stocks also helped the...
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