Reuters: Hot Stocks: Australian shares extend last week's decline, banks, Telstra hurt

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Australian shares extend last week's decline, banks, Telstra hurt May 27th 2013, 00:17 Sun May 26, 2013 8:17pm EDT SYDNEY May 27 (Reuters) - Australian shares dropped 0.7 percent on Monday morning, extending last week's sharp decline to one-month lows on concerns the U.S. Federal Reserve may scale back its stimulus measures, with losses led by the financial sector. Trading was relatively subdued ahead of a public holiday in the United States. Financials dragged on the market. Westpac Banking Corp lost 1.3 percent while top lender Commonwealth Bank of Australia fell 0.9 percent. Australia's sixth biggest company, Telstra Ltd, dropped 2.1 percent. The benchmark S&P/ASX 200 index fell 32.6 points to 4,950.9 by 0012 GMT. The benchmark lost 3.8 percent last week - the biggest weekly drop in a year. The S&P 500 declined for a third day on Friday, with the three major U.S. stock indexes posting their first negative week since mid-April on lingering concern that the U.S. central bank may scale back its stimulus measures to support the economy. New Zealand's benchmark NZX 50 index fell 0.6 percent or 25 points at 4,501.3. (Reporting by Thuy Ong; Editing by Shri Navaratnam)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions