Retailers, Resources Led Australian Index Loss of 15%

Marcus Jacob
30 Dec, 2011
New York City

Stocks in Australia declined for the third day in a row. For the year the ASX 200 index fell 15% with the sharpest drops in retailers, materials and energy linked companies. Billabong plunged 78%, Harvey Norman dropped 38% and David Jones declined 47%.

[R]8:00 PM Sydney – Stocks in Australia declined for the third day in a row. For the year the ASX 200 index fell 15% with the sharpest drops in retailers, materials and energy linked companies. Billabong plunged 78%, Harvey Norman dropped 38% and David Jones declined 47%.[/R]

Australian stocks eased for the third day in a row on the worries that the euro zone problems may drag world economy in the first half.

The ASX 200 index closed down 0.4% or 14.5 to 4,056.6 and All Ordinaries index decreased 12.1 or 0.3% to 4,111. For the year the benchmark index fell 15% and declined for the second year in a row since 1992.

The Australian dollar edged lower 0.3% and closed at US$1.018.

Home prices gained a little according to a private survey. RP Data-Rismark Home Value Index increased 0.1% in November and the index gained for the first time since December 2010.

For the year to November, capital cities home prices decline was trimmed to 3.7%.

Stock Movers

BHP Billiton Ltd fell 8 cents to $34.42 and Rio Tinto Ltd closed unchanged at $60.30.

Fortescue Metals Group added 1 cent to $4.27, Lynas Corporation Limited closed down 2 cents to $1.04 and Iluka Resources closed flat at $15.50.

For the year, Iluka Resources soared 70% and Lynas dropped 49%.

Oil Search Limited traded down 1 cent to $6.25, Santos Limited fell 8 cents to $12.24 and Woodside Petroleum decreased $0.37 cents to $30.62.

For the year, Woodside declined 28%, Oil Search fell 11% and Santos dropped 7%.

Commonwealth Bank of Australia decreased 11 cents to $49.22 and National Australia Bank rose 16 cents to $23.36. ANZ edged down 12 cents to $20.53. Westpac inched lower 15 cents to $20.

For the year, Commonwealth declined 3%, National Australia fell 1.4%, ANZ eased 12.1% and Westpac decreased 10%.

Cochlear declined $0.45 to $62 and for the year fell 23%.

David Jones Limited fell 1 cent to $2.37 and Wesfarmers Limited decreased 27 cent to $29.50. Harvey Norman Holdings closed up 2 cents to $1.84. For the year, David Jones declined 47%, Wesfarmers fell 7.8% and Harvey Norman dropped 38%.

Woolworths Limited closed down 10 cents to $25.10 and JB Hi-Fi Limited increased $0.09 to $11.29. For the year, JB Hi-Fi declined 37% and Woolworths fell 7%.

Billabong International Ltd was flat at $1.77 and Kathmandu eased 1 cent to $1.31. For the year, Billabong plunged 78% and Kathmandu decreased 3.7%.

Qantas Airways Ltd closed flat at $1.46 and Flight Centre declined $0.27 to $16.12. For the year, Flight Cenre fell 34% and Qantas Airways declined 42%.

QBE Insurance Group Limited decreased 10 cents to $12.95 and QR National traded flat at $3.42. For the year QBE declined 29% but QR rose 24%.