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Aussie shares open flat on Russia, Turkey jitters

Xinhua, November 25, 2015 Adjust font size:

The Australian market opened flat on Wednesday as traders seek safe havens amid jitters following the downing of a Russian jet on the Syria-Turkey border.

At the 10.15 a.m. (AEDT) official market open, the benchmark S&P/ASX200 index was up 0.3 points or 0.01 percent at 5,226.7, while the broader All Ordinaries index was down 1.1 points or 0.02 percent at 5,278.1.

Energy stocks found support on Wednesday after oil prices rose on news Turkey shot a Russian jet fighter on the Syria-Turkey border, sparking fears of new tensions in the oil rich region.

Woodside rallied 0.98 percent, Santos is up 2.73 percent while Oil Search edged 0.12 percent higher.

Gold miner Newcrest surged 2.3 percent as investors sought safe havens in gold, while BHP Billiton is up 1.17 percent and Rio Tinto added 0.93 percent.

Westpac gained 0.13 percent, however ANZ is down 0.36 percent, the National Australia Bank fell 0.34 percent and the Commonwealth Bank of Australia slipped 0.79 percent after it is forced to refund 80 million Australian dollars (58.07 million U.S. dollars) to customers.

Woolworths is down 1.16 percent and Wesfarmers fell 1.1 percent.

Qantas slipped 1.22 percent while Telstra is flat.

Endit