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Aussie stocks dive on weak commodity prices; NZ recoups losses

Published 26/05/2017, 04:43 pm
© Reuters.  Aussie stocks dive on weak commodity prices; NZ recoups losses
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May 26 (Reuters) - Australia stocks ended lower on Friday, battered by a downturn in commodity prices - especially oil - after OPEC's modest extension of output curbs disappointed investors who had hoped for more.

The S&P/ASX 200 index .AXJO slipped 37.9 points or 0.66 percent to 5,751.7 at the close of trade. On the week, however, it rose 0.38 percent.

BHP Billiton (LON:BLT) BHP.AX , the world's biggest miner, posted its sharpest intraday slide in three weeks, hit by falling oil prices and compounded by iron ore prices that appeared to be poised for a third weekly fall in four. IRONORE/

The metals index .AXMM wilted 1.46 percent at close.

Commonwealth Bank CBA.AX , Australia's biggest, was the top loser on the index, off 1.38 percent.

ANZ Banking ANZ.AX slid 1.5 percent, while the other two of the 'Big Four' fell around 0.5 percent each.

New Zealand's benchmark S&P/NZX 50 index .NZ50 recouped morning session losses and closed 0.09 percent or 7.1 points higher, to finish the session at 7,441.57, helped by healthcare stocks.

Fisher and Paykel Healthcare FPH.NZ was the top performer, up 2.22 percent.

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