Share market opens lower
Investor concerns on the U.S. economic recovery has brought the Australian share market to open lower today.
The September share price index contract was 10 points lower at 4,630 points at the Sydney Futures Exchange. A total of 15,472 contracts were traded.
The benchmark S&P/ASX200 index closed 11.6 points up (0.25 percent) at 4,626.5 points after starting the day half a percent higher. The broader All Ordinaries index increased 14.9 points (0.32 percent) to 4,669.1 points.
Major players on Wednesday are expected to be cautious in the morning before domestic data from the Australian Bureau of Statistics are released. Retirement home manager Aevum Limited (ASX: AVE) increased seven cents at $1.805 while bidder Stockland Corporation Limited (ASX: SGP) remains at $4.05.
Embattled Virgin Blue Holdings Limited (ASX: VBA) inched higher with 1.5 cents at 39.5 cents, while the National Australia Bank (ASX: NAB) is steady at $25.22 even as it surrenders its bid for AXA Asia Pacific Holdings Limited (ASX: AXA). The financial manager dropped four cents at $5.18.
The Commonwealth Bank of Australia (ASX: CBA) has released its vitality viewpoint report. The bank has climbed nine cents at $53.60.
The miners will always have a spot in the market, especially after the Greens stepped forward to pressure the coalition leader to put an end to mining. The minerals were slow on Tuesday. Paladin Energy Limited (ASX: PDN) went up one cent at $3.82 and NGM Resources Limited (ASX: NGM) had a slight increase of 0.5 cents, bringing it to 15.5 cents.
Rio Tinto Limited (ASX: RIO) dropped 15 cents at $75.15.