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Australian stocks slump on soft energy

Xinhua, August 14, 2015 Adjust font size:

Aussie stocks have been dragged to a 7-month low as energy stocks suffered from big falls in the price of oil.

At the official 4:15 (AEST) close, the benchmark S&P/ASX200 index was 31.4 points, or 0.58 percent, lower at 5,356.5, while the broader All Ordinaries fell 29 points, or 0.54 per cent, to 5, 360.

Energy stocks ended the day 3.69 percent softer, driven by Santos which fell 8.97 percent while Woodside Petroleum lost 3.55 percent.

Materials lost 0.97 percent with BHP Billiton down 0.74 percent while Rio Tinto slipped 1.6 percent.

Gold miner Newcrest is down 4.12 percent.

Financials fell 0.43 percent as a whole, with ANZ loosing 1.58 percent, NAB slipping 0.69 percent and Westpac down 1.48 percent. The Commonwealth Bank of Australia remained in a trading halt.

The S&P/ASX 200 is down 2.1 percent as a whole for the week, following last week's 3.7 percent- fall. Endi