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Sector
Financials
Size
Large Cap
Market Cap £5.41bn
Enterprise Value £7.74bn
Revenue £11.94bn
Position in Universe 51st / 1840

Australia shares slip, weighed by financial, energy sectors; NZ edges up

Tue 3rd October, 2017 6:39am
(Updates to close) 
    Oct 3 (Reuters) - Australian shares ended lower on Tuesday 
with financial stocks the biggest drag as QBE Insurance tumbled 
after the company said rising disaster claims could hurt 
earnings and as a decline in the oil price hit energy firms. 
    The S&P/ASX 200 index  .AXJO  fell 0.5 percent, or 27.93 
points, to 5,701.40 at the close of trade. 
    Australia's biggest insurer QBE Insurance Group  QBE.AX  
closed the day 3.5 percent down after it announced a $600 
million earnings hit on its business from hurricanes in the 
Atlantic and earthquakes in Mexico. urn:newsml:reuters.com:*:nL4N1MD4Z5 
    The insurer added that it had increased its allowance for 
large individual risk and catastrophe claims to $1.75 billion 
for 2017. 
    Meanwhile, the Reserve Bank of Australia left its cash rate 
at 1.5 percent on Tuesday, a widely expected decision given 
policy makers have signalled a steady outlook for some time to 
come. urn:newsml:reuters.com:*:nRBA 
    In other sectors, energy stocks were among the worst 
performers as oil prices declined for a second day amid fresh 
worries about a global over-supply of crude. O/R  
    The Australian energy index  .AXEJ  ended the day nearly 1 
percent down. Beach Energy  BPT.AX  slipped 5.5 percent, 
Woodside Petroleum  WPL.AX  fell 1 percent and Origin Energy 
 ORG.AX  closed the day 0.8 percent lower. 
    The gold index  .AXGD  closed 0.7 percent down after prices 
of the yellow metal dropped to a 7-week low. GOL/  
    Gold miners Newcrest Mining  NCM.AX  slipped 1.3 percent 
while Northern Star Resources  NST.AX  closed down 0.4 percent. 
    New Zealand's benchmark S&P/NZX 50 index  .NZ50  rose 0.06 
percent, or 4.53 points to finish the session at 7,933.42, 
supported by healthcare and utility stocks. 
    Arvida Group  ARV.NZ  was the best performer on the index, 
rising 2.5 percent while Contact Energy  CEN.NZ  rose 1.1 
percent. 
     
 
 (Reporting by Chandini Monnappa in Bengaluru; Editing by Sam 
Holmes) 
 ((chandini.m@thomsonreuters.com ; +918067497919; Reuters 
Messaging: chandini.m.thomsonreuters.com@reuters.net)) 
  
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Keywords: AUSTRALIA STOCKS/ CLOSE
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