ASX closes lower after financials fall

The Australian share market closed lower after falls from the financial sector, with Babcock & Brown suffering a heavy loss amid a drop in interim profit.

ASX lower led by financials, resources

The Australian share market closed more than two per cent lower, dragged down by the resource and financial sectors and a weak lead from Wall Street overnight.

ASX close flat as bank gains offset

The Australian share market closed flat as a rally in banks and property trusts, triggered by a positive US lead, offset falls in mining and energy stocks.

Investors drive up stocks as cheaper oil restores faith

INVESTORS yesterday regained some faith in financial stocks and in companies that are heavy users of oil, helping the sharemarket to a welcome rise from an almost two-year low on Tuesday.

Battered stocks pare back losses

THE sharemarket recovered from earlier losses yesterday but still ended marginally in the red - taking its lead from a rout on Wall Street over the weekend.

IT sector shines lone light as shares reverse

The sharemarket closed down more than 1 per cent yesterday on weaker resource stocks and industrials, the only bright spot being the information technology sector.