Australia: Shares edge lower as energy firms lead losses, NZ up

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[BENGALURU] Australia shares eased on Thursday, tracking declines on Wall Street while the energy sector led losses due to softer oil prices and Woodside Petroleum's disappointing quarterly revenues. Read more at The Business Times.

[BENGALURU] Australia shares eased on Thursday, tracking declines on Wall Street while the energy sector led losses due to softer oil prices and Woodside Petroleum's disappointing quarterly revenues.

That clobbered the energy sub-index, which was the biggest drag on the main board, losing 1.8 per cent.Shares of the energy sector's biggest constituent Woodside Petroleum slid to a six-week low after it reported a 32 per cent decline in second-quarter revenue, missing analyst forecasts by a big margin.

Shares of the country's top lenders sagged, losing between 0.1-0.6 per cent after credit rating firm Fitch cut its outlook for Westpac Banking Corp and Australia and New Zealand Banking Group to"negative" from"stable" on Wednesday.

 

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