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Cyprus Bailout 2013: Aussie Sharemarket Prices Down 2% on Cypriot Bailout Worries as Cyprus Banks Extend Holiday to March 21
By: International Business Times
Australia's sharemarket shed 2 per cent on Monday over investor worries on the Cyprus bailout problem. The All Ordinaries index declined 101.9 points or 1.99 per cent at 5,027.4, while the benchmark S&P/ASX200 index dipped 104.8 points or 2.05 per cent at 5,015.4.
The lower sharemarket value was the result of investors in Australia and Asia selling their stocks over fresh concerns about Europe's debt crisis expected to worsen as the Cyprus Parliament prepares to debate over the tax on bank deposits.
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