Share market slumps after Paris terrorist attacks

AUSTRALIAN shares have slumped in early trade, opening more than one per cent lower after the deadly terrorist attacks in Paris.

AUSTRALIAN shares have slumped in early trade, opening more than one per cent lower after the deadly terrorist attacks in Paris.

The benchmark S&P/ASX200 index dropped below the key 5,000 point-level in the early minutes of trade on Monday as investors worried about more global turmoil.

There were heavy falls across the board, with heavyweight banking and resources stocks all lower.

Australian Stock Report’s head of research Chris Conway said the local share market was already set for a weak open following steep losses on Wall Street on Friday and further slumps in the oil price.

But he said the weekend Paris terrorists attacks, where 132 people are reported dead and 53 injured, added further pressure on the market.

“The attacks in Paris have added further negative energy to what was already shaping up to be a bearish day,” he said.

“International events of this nature have an impact on market sentiment.” Diversified miner BHP Billiton had fallen four cents, or 0.20 per cent, to $20.19 at 1050 AEDT.

Fellow miner Rio Tinto was down 96 cents, or 1.92 per cent, to $47.69, while Fortescue Metals had dropped half a cent to $2.275. As for the banks, the Commonwealth Bank was down 69 cents, or 0.91 per cent, to $75.07, ANZ had declined 41 cents, or 1.56 per cent, to $25.90, Westpac was down 35 cents, or 1.15 per cent, to $30.17 and NAB had shed 34 cents, or 1.2 per cent to $27.91. Energy stocks were performing better-than-expected despite further slumps in the oil price.

Santos was up four cents to $4.01, Woodside Petroleum had gained 18 cents to $28.63 and Oil Search had added six cents to $7.79.

KEY FACTS

* At 1015 AEDT on Monday, the benchmark S&P/ASX200 index was down 64.7 points, or 1.28 per cent, at 4,986.6 points.

* The broader All Ordinaries index was down 62.9 points, or 1.23 per cent, at 5,048.9 points.

* The December share price index futures contract was down 54 points at 4,980 points, with 10,858 contracts traded.

* National turnover was 227 million securities worth $526 million.