Australian share market update

The Australian Share Market is still showing a weak performance being down last week by 1.7%. This was mainly due again to a weak performance in source stocks.

Oil prices have weakened causing the energy sector to fall 5%.

We are seeing mines in the Hunter area close due to a weakness in the mining services sector, and demand falling off. Resources were off 3.2% as commodity prices weakened further.

Even though we have seen little growth in the building sector, building materials also outperformed.

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