Concern over the U.S. sub-prime mortgage crisis caused another fall on the Australian share market Tuesday.

Prices dropped 1.7 percent overall with the All Ordinaries Index shedding 111 points to 6,490 and the ASX 200 dropping 109 points to close at 6,425.

The banking sector took the biggest hit with the Macquarie Group dropping 2.6 percent to $69.71 and the Commonwealth Bank shedding $1.15 while the ANZ Bank gained 25 cents.

Copper prices fell to an eight-month low and BHP Billiton shares lost 3.1 percent while Rio Tinto shed $3.64.

West Texas crude oil fetched $95.70 a barrel and spot gold was trading at $780 an ounce.

The Australian dollar slid to 88.4 US cents, 97 Japanese yen and 60.3 euro cents.  // Copyright 2007 by United Press International



Publication date: 20 November 2007   

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