16th December 2011
A night of weakness in commodity markets has impacted on the performance of Australian indices today (December 15th), with assets declining in a range of sectors.
The benchmark S&P/ASX 200 closed the day down by 1.2 per cent at 4139.8, with some of the worst performers on the market including gold miner Newcrest Mining (down 2.9 per cent) and Fortescue Metals (down 3.4 per cent), the Wall Street Journal reports.
"Resources will continue to drag on the S&P/ASX 200 going into next year," CityIndex chief market strategist Peter Esho told the news provider. "Copper looks particularly vulnerable and it's a lead indicator for everything in terms of industrial production."
The move follows the index touching an 11-day low of 4124.5 after three days of decline, before recovering slightly.
Elsewhere, the UK's FTSE 100 yesterday had an equally torrid time, registering a loss of 0.5 per cent in afternoon trading, Reuters reported.
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