Australia's S&P/ASX 200 (Index: ^AXJO)(ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) indices finished lower on Tuesday.
Here's a quick recap of the Aussie market:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.5%
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.5%
- AUD/USD at US 78.18 cents
- Gold at US$1,273 an ounce, down 0.9%
- Oil at US$50.55 a barrel, down 2.2%
Leading the market lower were shares of QBE Insurance Group Ltd (ASX: QBE) and South32 Ltd (ASX: S32) which fell 3.5% and 2.3%, respectively.
QBE, the general insurer, announced an increase to its individual risk and catastrophe claims allowance. After the devastating events in the US and Mexico, the company estimates a $600 million impact on its 2017 earnings.
South32 did not release any material news to the market.
Amongst the banks, Commonwealth Bank of Australia (ASX: CBA) shares fell 1.5% despite no news.
Further down the market, Technology One Limited (ASX: TNE) shares slid 10% following a trading update in which it downgraded its profit growth forecasts.
At the other end of the market, Macquarie Group Ltd (ASX: MQG) shares advanced 1%. Meanwhile, Galaxy Resources Limited (ASX: GXY) and Healthscope Ltd (ASX: HSO) ended 5% higher.
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