Aussie share market trading lower after US election

THE Australian share market is trading lower as investors ponder how the United States will deal with its so-called 'fiscal cliff' in the wake of the re-election of President Barack Obama.

At 1200 AEDT on Friday, the benchmark S&P/ASX200 index was down 32.3 points, or 0.72 per cent, at 4,451.5 points, while the broader All Ordinaries index had fallen 29.9 points, or 0.66 per cent, to 4,472.3 points.

On the ASX 24, the December share price index futures contract was 20 points lower at 4,466 points, on volume of 15,851 contracts.

IG Markets market analyst Cameron Peacock said the local market on Friday had followed US markets downwards, but about half of the fall could be attributed to the National Australia Bank and Westpac trading ex-dividend.

"The rest is the fear of the 'fiscal cliff' negotiations (in the US)," Mr Peacock said.

 

Read more at News.com.au


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