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STOCKS - AUSTRALIAN SHARES TUMBLE AT OPEN - AUG 1, 2008.
SYDNEY, Aug 1 Asia Pulse - The Australian share market opened lower today after disappointing US economic growth data and higher jobless claims hit Wall St.
At 1015 AEST, the benchmark S&P/ASX200 index sunk 47.3 points, or 0.95 per cent to 4930.1, while the broader All Ordinaries declined 45.7 points, or 0.9 per cent, to 5006.9.
The local insurance sector was led lower by Suncorp Metway Ltd after the bank and general insurer said its annual profit would almost halve.
The September share price index futures contract was hit 69 points, or 1.39 per cent, to 4910 on volume of 6,700 contracts.
The US Labor Department reported last night reported that job layoffs rose to 448,000 last week, the highest in five years, while ...
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