Qantas, BHP the big losers as share market slips

Friday, 22 Apr 2016 15:54:36 | Liz Hobday

A screen displays stock market prices dropping in Sydney on Monday, June 4, 2012. (AAP: Paul Miller)

The Australian share market fell back as the week came to a close, but is still at just below its highest levels this year.

The All Ordinaries closed at 5,299, a loss of 37 points.

The ASX-200 dropped 36 points to 5,236.

Oil and gas company Santos posted a small increase in first quarter sales, despite prices dropping by almost 30 per cent. Its shares lost 1 cent to finish at $4.62.

Woodside dropped 10 cents to $27.85.

The resources sector dragged on the market, dropping back 2.65 per cent.

BHP lost 69c to $20.36, Rio Tinto lost $1.55 to $51.00, and Fortescue lost 26 cents to $3.36.

Meanwhile, Qantas shares slipped almost 20 per cent this week, after the airline said there was less demand for its domestic flights and it would reduce the number of seats available.

Today, Qantas' shares lost 5 cents to $3.37.

The news was also bad for dairy company Murray Goulburn, who told the market it is revising its earnings outlook. Its shares went into a trading halt.

In commodities, oil dropped back to $US43.13 a barrel, iron ore was stronger at $US68.70 a tonne at 5:00pm AEST.

However gold was weaker, at $US1,247 an ounce.

The Australian dollar was buying 77.5 US cents.

AustraliaPlus

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Qantas, BHP the big losers as share market slips

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