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Australia shares slip 0.3pc; QBE falls sharply

australia-stock-exchange copySYDNEY: Australian shares edged 0.3 percent lower on Monday, falling for the third day, on concerns over US fiscal woes, Greece's bailout and profit warnings from corporates.


Top insurer QBE Insurance Group plunged as much as 15 percent to a 10-month low after cutting its full-year profit outlook on Hurricane Sandy and large catastrophe claims. It ended 8.3 percent lower at A$11.80.


The benchmark S&P/ASX 200 index fell 14 points to 4,448, according to latest available data. The benchmark fell 0.5 percent on Friday to end the week flat.


New Zealand's benchmark NZX 50 index climbed 0.6 percent to 3,984 points.


Copyright Reuters, 2012


Index Closing Chg%
Arrow DJIA 17,813.39 0.01
Arrow Nasdaq 5,116.15 0.26
Arrow S&P 2,088.87 0.01
Arrow FTSE 6,393.13 0.88
Arrow DAX 11,320.77 1.35
Arrow CAC-40 4,946.02 1.08
Arrow Nikkei 19,944.41 0.49
Arrow H.Seng 22,488.94 0.04
Arrow Sensex 25,958.63 0.71

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