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This is an archive article published on January 17, 2011

Australia shares end down 0.8 pct

The benchmark S&P/ASX 200 index lost 38.4 points to close at 4,763.1.

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Australian stocks fell 0.8 per cent on Monday after the government said floods that damaged vast areas of the eastern seaboard were set to be the country’s costliest natural disaster.

The benchmark S&P/ASX 200 index lost 38.4 points to close at 4,763.1,according to the latest data,erasing more than half of the last two days’ gains.

New Zealand’s benchmark NZX 50 index gave up 15.6 points,or 0.5 per cent,to close at 3,354.3.

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