The Australian sharemarket fell today with Banks the major drag on market returns. Financials (-0.7%) was one of the weakest sectors today. The major banks ANZ (-0.7%), CBA (-0.8)%, NAB (-1.0%) and WBC (-0.7%) all closed lower. This is the sixth decline in seven sessions for the overall market.
However, Materials (+0.4%) were a tad stronger with BHP closing up 0.3% to $36.56 while RIO was off 0.2% to $63.51. Gold producer Silver Lake Resources was up 9.6% and Newcrest bounced back 6.1% to $8.87.
The Australian dollar is currently trading at 0.9032 US dollars. Against other currencies the AUD is at; 0.6603 Euros; 0.5474 Pounds; and 93.4115 Yen.
Note for holders: TLS (-0.19%) - Telstra has sold off its shrinking directories business Sensis as it builds up a multi-billion-dollar stockpile of cash to fund investment and, possibly, higher returns for shareholders. The telco has agreed to sell a 70 per cent stake in Sensis, which includes the white and yellow pages business, to US-based private equity business Platinum Equity for $A454 million.
