5:00 PM Sydney – Australian markets closed down and consumer confidence index in June increased. Business and personal finance commitment increased 3.2% in April, which is expected to boost economic growth in the second quarter.
Australian market indexes were under pressure following weak closings in international markets in overnight trading.
The ASX 200 index slipped 32.60 to close at 4,724.50 and the broader All Ordinaries fell 32.80 to 4,716.10.
Australian dollar closed at 94.40 U.S. cents and in stock trading turnover jumped to 861 million worth $4.7 billion.
The Australian Bureau of Statistics said business and personal finance commitments increased 3.2% in April to a seasonally adjusted $30.70 billion.
Consumer confidence recovered slightly in June. The Westpac Melbourne Institute Index of Consumer Sentiment rose 4.7 percentage point to 102.2 from 97.6 in May.
Stocks in Review
Rio Tinto slid 17 cents to $52.83 and BHP fell 13 cent to $32.97. Woodside Petroleum Limited dropped 71 cents to $34.67.
David Jones Limited slipped 8 cents to $2.38 and Breville Group down 6 cents to $7.18. Woolworths decreased 6 cents to $31.93.
Mirvac Group closed unchanged at $1.58. Lend Lease slumped 36 cents to $9.03.
Westpac decreased 34 cents to $27.47, Commonwealth fell 0.4% to $65.12 and National Australia Bank slipped 1.2% to $28.05 and ANZ declined 1.2% to $26.55.
Newcrest Mining, Ltd. fell 10 cents to $11.93 after the company denied it selectively briefed analysts ahead of announcing the $6 billion write-down last week, in a regulatory filing with the ASX.
Rio Tinto slid 0.3% to $52.83 after the close to selling stake of nearly $3 billion in Coal & Allied Industries Limited as well as holdings in some of its Queensland coal mines.
India based mining companies Aditya Birla Group, Coal India Ltd and China based Shenhua Group Corp. Ltd. are interested in bidding for Rio Tinto''s Australian coal assets.
Westpac slipped 1.2% to $27.47 after the bank intends to sell an inner city Brisbane development site to a private investor for $13 million.