Articles

European shares ended slightly lower on Monday after struggling for direction amid lingering worries about growth and with US markets closed for a holiday, although oil giant BP managed to gain ground.

The Stoxx Europe 600 index fell 0.2% to close at 236.88, after dipping in and out of positive territory through the session in a similar performance to Friday's session.

The index lost 4.5% last week after data fuelled worries about global economic growth.

Miners fell on Monday, with Rio Tinto shares down 1.8% and Antofagasta shares off 2.1%.

The total number of job advertisements in Australian newspapers and on the Internet rose 2.7% in seasonally adjusted terms in June from May to an average of 169,690 ads per week, contributing to a 32.2% annual increase, Australia & New Zealand Banking Group, which compiles the data from major newspapers.

US stocks fell on Friday, with General Electric, Caterpillar and 3M among the decliners following disappointing reports on US employment and factory orders.

The Dow Jones Industrial Average dropped 46.05 points (0.47%) to 9,686.48, its lowest close since Oct. 5, 2009. Friday marked the Dow's seventh-straight session in the red, its longest losing streak since an eight-day run that ended in October 2008.

US stocks fell on Thursday, with Bank of America, General Electric and Intel among the decliners, as disappointing data on the US housing and job markets sparked concerns over the pace of the economic recovery.

The Dow Jones Industrial Average declined 41.49 points (0.42%) to 9,732.53, its lowest close since Oct. 30, 2009. Thursday marked the measure's sixth-straight daily drop; it hasn't had such a long losing streak since January.

The Australian sharemarket continued its downward trend in June, with the All Ordinaries Index falling 2.9% to close at 4,324.8 points.  International markets were also down as European government debt concerns continued to weigh on the market. 

The Dow Jones Index closed down 3.6%, the FTSE closed down 5.5% and the Nikkei 225 closed down 4.0% for the month.  The Hang Seng bucked the global trend and increased by 1.8% in the month.

US stocks fell on Wednesday in the final session of the second quarter as a report on private-sector jobs disappointed investors and Moody's warned that it may cut its credit rating on Spain. Alcoa, Walt Disney and Hewlett-Packard were among the decliners.

The Dow Jones Industrial Average dropped 96.28 points (0.98%) to 9,774.02. The Dow fell 3.58% for the month, its second-consecutive monthly drop. For the quarter, it tumbled 9.97%, breaking a streak of four quarterly gains and marking the measure's worst second-quarter since 2002.

Growth in house prices has slowed in recent months. The RP Data-Rismark capital cities home value index rose 0.6% in May from April, a pace well down on that seen at the start of 2010.

Outside of the capital cities, house prices fell 0.9% in May. RP, said it was the second successive month showing slowing price growth, suggesting the housing sector is in transition. Also, the Housing Industry Association reported new home sales fell 6.4% in May from April, more evidence that demand has weakened sharply.

US stocks tumbled broadly on Tuesday as renewed concerns about global growth sent investors away from companies such as Boeing, Alcoa and Caterpillar, toward the safety of the US dollar and Treasuries.

The Dow Jones Industrial Average dropped 268.22 points (2.65%) to 9,870.30, its second-lowest close this year. Tuesday also represented the Dow's biggest one-day drop since June 4. It is now down 5.35% for the year to date.

US stocks closed slightly lower on Monday, with Boeing among the decliners as investors grew concerned about the potential impact on global growth from the Group of 20's pledge to cut deficits. Still, a Supreme Court decision lifted tobacco companies including Reynolds American and Altria Group.

The Dow Jones Industrial Average fell 5.29 points (0.05%) to 10,138.52. JP Morgan Chase was the measure's worst performer with a decline of 90 cents (2.3%) to $38.54. Boeing slipped $1.47 (2.1%) to $67.30, and Alcoa dropped 20 cents (1.8%) to $11.03.

A recovery in new home building is set to stall in 2011, according to a report.

The Housing Industry Association, which represents home builders, said housing starts are likely to fall 3% in 2011, reversing part of the expected 20% rise in 2010, ensuring the industry continues to build homes at a rate far below what is being demanded.

In its quarterly National Outlook Report it said Australia needs to build over 190,000 dwellings in 2010 alone to meet underlying demand. Current estimates put total building at 165,940 houses.