PERTH: The Australian share market has sunk lower as investor risk appetite wanes ahead of Tuesday’s Reserve Bank rate decision.
All the major banks were lower with Westpac dropping the most, down 2.1 per cent to $30.72, despite posting an on-track three per cent lift in its full year cash profit.
In resources, mining giants BHP Billiton and Rio Tinto were under pressure easing 19 cents to $22.83 and 40 cents to $50.25, respectively. But Fortescue was up three cents at $2.12.
Other key market heavyweights like Telstra, Woolworths and Wesfarmers were also lower, down about one per cent.
On Monday at 1201 AEDT, the benchmark S&P/ASX200 index was down 58.6 points, or 1.12 per cent, at 5,180.8 points.
The broader All Ordinaries index was down 53 points, or 1.00 per cent, at 5,235.6 points.
The December share price index futures contract was down 84 points at 5,152 points, with 15,100 contracts traded.
National turnover was 968 million securities worth $1.6 billion at 1217 AEDT.
