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STOCKS - AUSTRALIAN SHARES OPEN WEAKER - SEPT 1, 2008.
SYDNEY, Sept 1 Asia Pulse - The Australian stock market has opened weaker, dragged lower by the big miners and financials, after US stocks retreated on Friday.
At 1015 AEST, the benchmark S&P/ASX200 was down 35.2 points, or 0.69 per cent to 5,100.4, while the broader All Ordinaries fell 32.6 points, or 0.63 per cent to 5,182.9.
The September share price index futures contract was down 31 points to 5,113 on volume of 4,899 contracts.
Locally, BHP Billiton lost 28 cents, or 0.68 per cent, to .12 and takeover target Rio Tinto dropped $2.26, or 1.77 per cent, to $125.24.
The banks were weaker. Commonwealth Bank of Australia fell 35 cents to $42.05, Westpac lost 23 cents to $23.32, National Australia Bank was off 39 cents to $24.11 and ANZ dropped eleven cents to $16.50.
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Source: HighBeam Research, STOCKS - AUSTRALIAN SHARES OPEN WEAKER - SEPT 1, 2008.