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Repeating to correct value of takeover.
SYDNEY, July 2 Asia Pulse - Australian stocks ended lower as choppy commodity prices took a toll on the resources sector, but local retailers gained on the recommendation by Coles' (ASX:CGJ) board of a A$22 billion (US$18.8 billion) takeover offer, dealers said.
The S&P/ASX200 index lost 11.6 points to 6,263.3, while the all ordinaries fell 12 points to 6,298.6.
On the Sydney Futures Exchange, the September share price index contract rose 17 points to 6,294.
ABN Amro Morgans private client adviser Bill Bishop said the local market had fallen after a weak lead from Wall St on Friday and mixed commodity prices.
"It's been a pretty flat day's trading with the market looking to find its feet," Mr Bishop said.
"Certainly, Wall Street wasn't too bad - it was also a bit of a nothing night there too."
Source: HighBeam Research, STOCKS - AUSTRALIAN SHARES END LOWER - JULY 2, 2007.