Australia: Shares ease off 11-year peak as financials drag

Australian shares ended lower on Monday after losses in financial stocks pulled the benchmark down from a more than 11-year high as investors remained cautious ahead of bank earnings.[SYDNEY] Australian shares ended lower on Monday after losses in financial stocks pulled the benchmark down from a more than 11-year high as investors remained cautious ahead of bank earnings.

Investors are awaiting the US Federal Reserve's meeting this week and Chinese factory data for further clues on policy direction and health of the world's biggest economies. The energy index fell 0.7 per cent as oil prices extended Friday's slump after President Donald Trump demanded that producer club Opec raise output to soften the impact of U.S. sanctions against Iran.

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Australia: Shares dip, weighed by energy, financial firms; New Zealand up[BENGALURU] Australian shares pulled back from a more than 11-year high on Monday, as a slump in oil prices weighed on energy stocks and investors remained cautious ahead of bank earnings later this week. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »