Bank and energy sectors pull market lower

(Australian Associated Press)

The share market is weaker due to falls across the financial and energy sectors.

The benchmark S&P/ASX200 was down 0.4 per cent at 1200 AEST, the third straight session of falls for the market.

Analysts say the surprise UK election set for June has compounded investor nerves and added to the risk-off mood triggered by global political tensions.

Westpac was the worst performer among the big four banks, down 1.2 per cent, while its rivals were between 0.8 per cent and 1.1 per cent weaker.

Another fall in oil prices weighed on energy companies, with Oil Search down 2.6 per cent and Woodside Petroleum down 0.9 per cent.

BHP Billiton was slightly higher and Rio Tinto and Fortescue Metals are rallying, with gains of 1.3 per cent and four per cent, respectively.

Logistics giant Brambles is six per cent higher after a positive quarterly revenue report, while Telstra was up 2.8 per cent, its first gain in five sessions.


* The benchmark S&P/ASX200 down 23.1 points, or 0.4 per cent, at 5,813.6 points at 1200 AEST.

* The broader All Ordinaries index down 20.3 points, or 0.35 per cent, at 5,848.4 points.

* The June SPI200 futures contract was down 27 points, or 0.46 per cent, at 5,801 points.

* National turnover was 954 million securities traded worth $1.8 billion.


One Australian dollar buys:

* 75.32 US cents, from 75.55 US cents on Tuesday

* 81.72 Japanese yen, from 82.42 yen

* 70.24 euro cents, from 70.95 euro cents

* 58.70 British pence, from 60.05 pence

* 106.93 New Zealand cents, from 107.76 NZ cents


* CGS 5.25 per cent March 2019, 1.595pct, from 1.627pct on Tuesday

* CGS 4.25pct April 2026, 2.389pct, from 2.437pct

Sydney Futures Exchange prices:

* June 2017 10-year bond futures contract at 97.525 (implying a yield of 2.475pct), up from 97.480 (implying a yield of 2.520pct) on Tuesday

* June 2017 3-year bond futures contract at 98.240 (1.760pct), up from 98.210 (1.790pct).

(*Currency closes taken at 1700 AEST previous local session, bond market closes taken at 1630 AEST previous local session)


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