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At midday today, the S&P/ASX200 index was down a further 36 points, while the All Ordinaries fell 42.
US stocks ended fairly flat on Tuesday as growing inflationary worries countered an upgrade of drinks giant Coca-Cola.
At close of trade the Dow Jones Industrial Average had clawed back nine points, while the Nasdaq Composite slipped ten.
In Asian trading today, Japan’s Nikkei was up just two points at noon, while Hong Kong’s Hang Seng fell 86.
In ASX news...construction group Leighton Holdings announced today that its fully owned subsidiary Leighton Contractors has been awarded a $490 million contract to deliver the Ballina bypass project in northern New South Wales.
In a statement the group said that Leighton Contractors would work as a member of the alliance that will design and construct the 12km dual carriageway bypass, which is scheduled for completion in 2012.
On the economic front, consumer sentiment fell to a 16-year low this month, according to data released today by the Westpac-Melbourne Institute.
The institute’s index of consumer sentiment fell 5.6 per cent in June to its lowest level since 1992, in a result that has surprised observers. Westpac’s chief economist Bill Evans said that a 7 per cent hike in petrol prices in the month was largely to blame for the confidence slump, which more normally drops as a result of rising interest rates.
Finally, the Australian Bureau of Statistics released today lending figures for April, showing a seasonally adjusted 5.8 per cent rise in personal finance commitments for the month.
The ABS said finance commitments for the month totalled $6.9 billion, up from $6.5 billion in March. The bureau said the increase came as a result of a sharp rise in revolving credit commitments – up more than 14 per cent for the month - despite a slight drop in fixed borrowings.
In individual share price movements on the ASX this morning, resource stocks fell on lower metal and oil prices. BHP Billiton was down 53 cents at noon, Fortescue Metals lost 38, Rio Tinto dropped $3.28, Woodside Petroleum fell $1.31.
Banking stocks were mixed at midday. ANZ added eight cents, Commonwealth Bank dropped 26, National Australia Bank gained 19 cents, Westpac shed four.
Other blue chips were fairly flat. AMP was unchanged at noon, News Corp added 19, Telstra put on two cents while Woolworths lost 13.
US stocks ended fairly flat on Tuesday as growing inflationary worries countered an upgrade of drinks giant Coca-Cola.
At close of trade the Dow Jones Industrial Average had clawed back nine points, while the Nasdaq Composite slipped ten.
In Asian trading today, Japan’s Nikkei was up just two points at noon, while Hong Kong’s Hang Seng fell 86.
In ASX news...construction group Leighton Holdings announced today that its fully owned subsidiary Leighton Contractors has been awarded a $490 million contract to deliver the Ballina bypass project in northern New South Wales.
In a statement the group said that Leighton Contractors would work as a member of the alliance that will design and construct the 12km dual carriageway bypass, which is scheduled for completion in 2012.
On the economic front, consumer sentiment fell to a 16-year low this month, according to data released today by the Westpac-Melbourne Institute.
The institute’s index of consumer sentiment fell 5.6 per cent in June to its lowest level since 1992, in a result that has surprised observers. Westpac’s chief economist Bill Evans said that a 7 per cent hike in petrol prices in the month was largely to blame for the confidence slump, which more normally drops as a result of rising interest rates.
Finally, the Australian Bureau of Statistics released today lending figures for April, showing a seasonally adjusted 5.8 per cent rise in personal finance commitments for the month.
The ABS said finance commitments for the month totalled $6.9 billion, up from $6.5 billion in March. The bureau said the increase came as a result of a sharp rise in revolving credit commitments – up more than 14 per cent for the month - despite a slight drop in fixed borrowings.
In individual share price movements on the ASX this morning, resource stocks fell on lower metal and oil prices. BHP Billiton was down 53 cents at noon, Fortescue Metals lost 38, Rio Tinto dropped $3.28, Woodside Petroleum fell $1.31.
Banking stocks were mixed at midday. ANZ added eight cents, Commonwealth Bank dropped 26, National Australia Bank gained 19 cents, Westpac shed four.
Other blue chips were fairly flat. AMP was unchanged at noon, News Corp added 19, Telstra put on two cents while Woolworths lost 13.
