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Aussie stocks fall at open

Xinhua, November 4, 2016 Adjust font size:

The Australian share market opened lower on Friday.

At 1010 local time (AEDT), the the benchmark S&P/ASX200 index was down 40.3 points or 0.77 percent at 5,185.3, while the broader All Ordinaries index was down 37.6 points or 0.71 percent at 5269.0 points.

CMC Markets Chief Market Analyst Ric Spooner said the impending U.S. election (on Nov. 8) will again be the main driver of the Australian index at the trade.

"Indeed it's likely to remain the key to world markets for the next few days," Spooner said.

"The situation for traders is that a (Hillary) Clinton victory still appears the most likely outcome according to most polls and pundits."

"On the other hand, markets are likely to have a much larger reaction if (Donald) Trump wins," he said.

At the open, ANZ was down 0.51 percent, the National Australia Bank retreated 4.43 percent, Westpac fell 0.74 percent, while the Commonwealth Bank of Australia declined 0.43 percent. Enditem