Australian Stock Market Report – Afternoon 10/22/2012

By International Business Times,  October 22, 2012, 03:02:03 AM EDT

AFTERNOON REPORT
(5pm AEDT)

The Australian share market eased from 14 month highs today, following a weak lead from offshore markets and lower commodity prices. US stocks fell on Friday night on disappointing earnings results and with investors spooked on the 25th anniversary of the 1987 stock market crash. The All Ordinaries Index (XAO) closed down 28.9pts or 0.6pct to 4565.6pts.

Rio Tinto ( RIO ) shares were lower by 2.4pct, closing at $57.75, with the mining sector as a whole underperforming. Shares in BHP Billiton ( BHP ) finished down 0.9pct to $34.70 while Fortescue Metals Group (FMG) was weaker by 2.1pct to $4.14.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: BHP, RIO



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