Business Services Industry
Faltering resources jolt shares.
Australasian Business Intelligence, January, 2007
Byline: Richard Hemming and Gabriella Hold
Jan 04, 2007 (The Australian Financial Review - ABIX via COMTEX) -- The S&P/ASX 200 fell 64.5 points to 5,584.80 on 4 January 2007, while the All Ordinaries Index shed 62.9 points to 5,563.90. It was the second consecutive decline for the benchmark Australian index and the largest recorded in five weeks. The fall came as the value of copper and oil dropped. Shares in BHP Billiton, Rio Tinto, Santos, Oil Search and Woodside Petroleum were among those that suffered. Adam Dixon, of Ausbil Dexia, says the share price falls were larger than warranted. The retreats may be considered a warning of the extent to which Australia's economy depends upon continued strong commodity prices. Meanwhile, QBE Insurance shares rose...
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