Market dragged lower by banking falls
Posted
The Australian share market has closed the day lower, dragged down by ongoing concern about European sovereign debt and a cautious profit outlook from the Macquarie Bank.
The All Ordinaries Index fell 18 points to 4,521, and the ASX 200 shed 16 points to 4,505.
Macquarie Group slumped 6 per cent to $US47.28.
The hearing implant maker, Cochlear closed up $2.16 to $63.55, after reporting a better than expected first half year profit result.
The department store chain, David Jones also upgraded its profit outlook for this financial year, its shares ended up 13 cents to $4.74.
The Australian dollar was buying 86.92 US cents at 5:30pm (AEDT).
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