SYDNEY: The Australian share market plunged at the Monday opening — and the situation in Greece over its debt repayments was again to blame.
At the official market open, the benchmark S&P/ASX200 index retreated 100.6 points, or 1.81 percent, to 5,445.3 points, while the broader All Ordinaries index gave up 97.6 points, or 1.76 percent, to 5,438.5.
Local analysts were widely reported as saying the next few weeks could be highly volatile for global financial markets, including Australia, due to the Greece debt crisis.
Consumer discretionaries were the morning’s biggest loser, plummeting 2.74 percent. Flight Center lost 1.65 percent and Harvey Norman fell 2.29 percent.
Financials lost 1.91 percent, with ANZ shedding 1.74 percent and the Commonwealth Bank 2.07 percent. National Australia Bank fell 1.85 percent and Westpac down 2.15 percent.
