Australian stocks ended July with another monthly loss - extending the losing streak to its longest since the depth of the global economic crisis in early 2009 as worries about a possible US debt default deter investors.
The benchmark S&P/ASX200 index fell for a third day in a row, sinking 39.2 points, or 0.9 per cent, to 4424.6, while the broader All Ordinaries index dropped 38.7 points, or 0.9 per cent, to 4500.5.
For July as a whole, the ASX200 index shed 4 per cent, its worst monthly performance since May last year. The monthly loss made it four months in a row of retreats - the longest decline since February 2009.
Among the major sub-indexes, financials today dropped 0.8 per cent, while materials were off 1.4 per cent and energy lost 1 per cent. For the month, a series of poor results in the retail sector saw the consumer discretionary sub-index lead falls, dropping 7.5 per cent, with department store operator David Jones losing about one quarter of its value.
Need to know
- The $A was trading at $US1.0954, 76.7 euro cents
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Asian share markets extended their falls
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Gold eased to $US1613 an ounce
- Oil futures were hovering below $US97 a barrel
- Dow share futures were down 84 to 12,109
- Australian business calendar August 1-5
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