Australian shares closed down on Monday after earlier slipping to their lowest in almost a month, as energy firms were hit hard by falling oil prices after Iraq said it does not want to join the production cut to prop up the market. The Australian benchmark index ended 0.4 percent, or 21.82 points, lower at 5,408.5. It lost 0.2 percent on Friday and was off 0.1 percent for the week. The energy index tumbled 1.5 percent and closed at its lowest since Sept 30. Santos Ltd and Oil Search Ltd, down about 3 percent and 2 percent respectively, were the worst hit in the oil sector.
Watch What Else Is Making News
Healthcare stocks also lost substantially, with healthcare provider Healthscope Ltd and Ramsay Health Care Ltd down 5.9 percent and 4.6 percent respectively.
New Zealand’s stock market was closed for Labour Day.
- Here’s Why Delhi-NCR Gets Pollution Code On Lines Of Beijing
- PM Modi Is More Interested In TRP Politics Rahul Gandhi At Congress Parliamentary Meet
- Bigg Boss 10 December 1 Review: Priyanka Jagga Succeeds In Her Divide And Rule Strategy
- Kahaani 2 Audience Reaction: Vidya Balan Starrer Thriller Gets Mixed Reviews
- Find Out What PM Modi Said About Demonetisation On LinkedIn
- Row Over West Bengal ”Military Coup” Issue Escalates: Who Said What
- Here’s How Mohammad Kaif Replied To Virender Sehwag’s Birthday Wish On Twitter
- West Bengal CM Mamata Banerjee’s Flight Reportedly Had Low Fuel: Here’s What Happened
- Reliance Jio Welcome Offer Extended Till March 31, JioMoney Launched
- Uri Attackers Came From Pakistan, Establishes Digital Data
- Bigg Boss 10 Nov 30 Episode Review: Captaincy Brings Differences In Manoj Punjabi & Manveer Gurjar
- Congress Vice President Rahul Gandhi’s Official Twitter Handle Hacked
- After Rahul Gandhi’s Twitter Handle, Congress Official Twitter Account Hacked
- 3 Dead As Army Helicopter Crashes In Sukna In West Bengal
- BJP, Congress Engage In War Of Words Over Nagrota Attack: Find Out More