THE share market has opened weaker, led by declines in financial and resources stocks and after a weak finish on Wall Street.
At 10:15 (AEDT), the benchmark S&P/ASX200 index was down 13.4 points, or 0.29 per cent, at 4660.1, while the broader All Ordinaries had slipped 13.3 points, or 0.28 per cent, to 4674.5.
On the Sydney Futures Exchange, the December share price index contract was down six points at 4658 on volume of 19,510 contracts.
At 10:15 (AEDT), mining giant BHP Billiton was down six cents at $41.04 and rival miner Rio Tinto had decreased 45 cents, or 0.64 per cent, to $70.40.
Among the banks, Commonwealth Bank was 13 cents weaker at $52.59, Westpac had slipped 17 cents to $23.63, NAB was 16 cents lower at $27.83 and ANZ had eased six cents to $21.37.
Macquarie Group was down nine cents at $47.44.
Start of sidebar. Skip to end of sidebar.
End of sidebar. Return to start of sidebar.
Westpac chairman Ted Evans justified the bank's recent interest rate rise to shareholders at the company's annual general meeting.
"We would do no favours to anyone by offering mortgages at rates that we know to be unsustainable,'' Mr Evans told the meeting.
The Dow Jones industrial average posted its highest closing level for 2009 on Monday, but fell back yesterday to end the overnight session down 0.47 per cent.
The S&P500 index slipped 0.55 per cent, while the Nasdaq composite index backpedalled 0.5 per cent.
Shares dive 2pc on Dubai debt concernsInvestment adviser sees brighter economy in the future
