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Australian stocks open lower

Xinhua, February 27, 2015 Adjust font size:

The Australian share market opened lower on Friday following a mixed night on overseas markets.

At the official market open, the benchmark S&P/ASX200 index lost 14.8 points, or 0.25 percent, to 5,893.7 points, while the broader All Ordinaries index was down 12.3 points, or 0.21 percent, at 5,865.6.

Consumer staples sector was 3.99 percent weaker. Woolworths fell 8.57 percent after cutting its full-year guidance on the back of a fall in first-half profit and Wesfarmers lost 0.75 percent.

Energy stocks lost 0.69 percent. Oil Search was flat, Santos gave up 0.25 percent while Woodside Petroleum was flat.

Consumer discretionaries were 0.02 percent weaker. Harvey Norman rose 0.23 percent, and Treasury Wine fell 2.03 percent.

Financials fell 0.01 percent collectively. ANZ lifted 0.06 percent, the Commonwealth Bank rallied 0.24 percent, National Australia Bank shed 0.11 percent while Westpac lost 0.32 percent.

Materials edged up 0.03 percent as a sector. BHP Billiton shed 0.45 percent while Rio Tinto gained 0.68 percent.

Meanwhile, Qantas rallied 2.81 percent and Telstra slipped 0.32 percent. Endi