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Australia, NZ: Shares fall on friday, ECB sours mood

Friday, September 9, 2016 - 15:19

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[BENGALURU] Australian shares closed at their lowest since early July, dragged down by financials, after a European Central Bank meeting left markets clueless about its future monetary policy moves.

Investors shrugged off data from China, Australia's biggest trading partner, showing a moderation in producer price deflation, adding to growing evidence of a steadying economy.

The S&P/ASX 200 index finished 0.9 per cent, or 46.55 points, lower at 5339.2.

The benchmark, which lost 0.7 per cent on Thursday and 0.6 per cent on the week, closed lower for a second consecutive session.

The "Big Four" banks lost between 1.2 per cent and 1.7 per cent.

New Zealand's benchmark S&P/NZX 50 index lost 0.9 per cent, or 66.13 points, ending at 7468.6.

The benchmark added 0.6 per cent on the week.

REUTERS

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