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The share market closed down almost 1% with all sectors1 lower. The ASX 200 gave up 49 points. Doing most of the damage on the market today were mining stocks after the fall in the iron ore price overnight and shares in Cabcharge, the Australian's biggest taxi payments company, slid after its chairman and a big shareholder2 Reg Kermode announced his stepping down as a chairman as he undergos his cancer treatment.
Taking a look at the currencies. The AU dollar has been under pressure today and lost around half cents since this time yesterday.
The inability of borrowers to payback loans is becoming a concern for Australian lenders. A comprehensive global study of banks by Price Whitehouse Cooper(PWC) shows local lenders are increasingly concerned about the abilities of borrowers to meet repayments3 when interest rates inevitably4 rise. Interest rates ranked as the sixth major risk in Australia compared with twelfth in the world. The number one concern was regulatory changes.
Optus is slashing5 jobs as part of an ongoing6 restructure but says none of the positions will be sent offshore7. Australian's 2nd largest company won't reveal how many jobs will go nor which divisions will be affected8 until it's finished talking to works in the next few days. There are reports around 200 workers will lose their jobs. The telco says its priority is to communicate any changes to its employees who will be affected. The cuts form parts of a strategic review announced 1.5 years ago.
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1 sectors | |
n.部门( sector的名词复数 );领域;防御地区;扇形 | |
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2 shareholder | |
n.股东,股票持有人 | |
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3 repayments | |
偿还,报答,偿付的钱物( repayment的名词复数 ) | |
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4 inevitably | |
adv.不可避免地;必然发生地 | |
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5 slashing | |
adj.尖锐的;苛刻的;鲜明的;乱砍的v.挥砍( slash的现在分词 );鞭打;割破;削减 | |
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6 ongoing | |
adj.进行中的,前进的 | |
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7 offshore | |
adj.海面的,吹向海面的;adv.向海面 | |
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8 affected | |
adj.不自然的,假装的 | |
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