Friday, November 25, 2011

Australia shares suffer on Europe intransigence

(Nov 25): Australian shares dropped 0.9 percent on Friday, with sentiment suffering from Germany's rigid stance on opposing the use of euro bonds or monetary tools to help solve the euro zone's debt crisis.

Shares in Woodside Petroleum tumbled 4 percent after it updated on production and capital spending estimates. Woodside narrowed its 2011 production target range to between 63 million and 64 million barrels of oil equivalent, from 62 million to 64 million previously.

The benchmark S&P/ASX 200 index lost 36.4 points to 4,007.8 at 2318 GMT. The index eased 0.2 percent on Thursday.

New Zealand's benchmark NZX 50 index was down 0.2 percent to 3234.4.

The U.S. stock market was closed on Thursday for the Thanksgiving holiday. - Reuters

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