Market Updates
Australian Indexes Fall 0.5%, Shell to Sell Woodside Stake
Marcus Jacob
06 Jan, 2014
New York City
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Australian markets indexes declined for the second day in a row and the dollar eased. Royal Dutch Shell plans to sell its remaining stake of 23.1% in Woodside Petroleum.
[R]4:30 PM Sydney – Australian markets indexes declined for the second day in a row and the dollar eased. Royal Dutch Shell plans to sell its remaining stake of 23.1% in Woodside Petroleum.[/R]
Australian market indexes declined and the dollar continued its slide on the rising worries that the market indexes may be ahead of fundamentals.
Australian dollar rose to 89.54 U.S. cents. Stock trading turnover slid to 418 million shares worth $2.1 billion.
The ASX 200 index slipped 25.20 or 0.5% to close at 5,324.90 and the broader All Ordinaries decreased 24.10 to 5,327.70.
Stocks in Review
Rio Tinto fell 61 cents to $67.75. BHP slid 21 cents to $37.56.
Woodside Petroleum Limited dropped 43 cents to $37.70 and the Netherlands-based oil and gas producer Royal Dutch Shell Plc plans to sell its remaining stake of 23.1% for about $7.4 billion.
Westpac slumped 22 cents to $32.12.
GPT Group closed unchanged at $3.49 after the property developer raised its stake to 11.44% from 7.97% in its takeover offer in Commonwealth Property Office Fund Ltd
Warrnambool Cheese & Butter Factory Co fell 3 cents to $9.23 and media reports suggested Saputo will close its $520 million takeover this Friday or extend to January 25.
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