By Virginia M. Harrison
SYDNEY (MarketWatch) -- Australian shares fell in early Monday trading, with airline shares dragging on the sector as fighting in Libya sent crude-oil prices higher. The benchmark S&P/ASX 200 index (AU:XJO 4,643, +16.36, +0.35%) fell 0.3% to 4,614.90, with Qantas Airways Ltd. (AU:QAN 2.10, +0.01, +0.48%) (QUBSF 2.07, +0.05, +2.48%) down 1%, and Virgin Blue Holdings Ltd. (AU:VBA 0.33, 0.00, 0.00%) (VBHLF 0.34, +0.01, +4.30%) down 1.5%. Some industrials also fell, with Incitec Pivot Ltd. (AU:IPL 4.18, -0.06, -1.42%) (ICPVY 4.29, -0.17, -3.81%) losing 1.7% and Brambles Ltd. (AU:BXB 6.83, -0.01, -0.15%) (BMBLF 0.00, 0.00, 0.00%) dropping 1.2%. The major miners were stronger, however, with Rio Tinto Ltd. (AU:RIO 81.00, +0.50, +0.62%) (RIO 65.21, +0.60, +0.93%) adding 1.0% after extended its offer for Riversdale Mining Ltd. (AU:RIV 15.75, +0.04, +0.26%) (RFLMF 15.50, 0.00, 0.00%) by three trading days, while BHP Billiton Ltd. (AU:BHP 44.50, -0.06, -0.13%) (BHP 88.56, +1.18, +1.35%) gained 0.1.%. Uranium miners recovered some lost ground as Japan's nuclear crisis appeared to be easing, with cooling systems back up at two damaged reactors. Extract Resources [s:au:ext] rose 9.1%, Energy Resources of Australia [s:au:era] gained 4.1% and Paladin Energy [s:au:pdn] was 3.6% higher. Rising crude also helped the energy sector, with Santos Ltd. (AU:STO 15.22, +0.17, +1.13%) (STOSF 14.77, +0.66, +4.68%) rising 1.7%, Woodside Petroleum Ltd. (AU:WPL 45.20, +0.79, +1.78%) (WOPEF 42.65, +1.55, +3.77%) gaining 1.2%. |
