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Australia: Shares slump on falling metals, oil prices

Monday, March 30, 2015 - 13:57
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[SYDNEY] Australian shares fell sharply on Monday as resources stocks followed oil and metals prices lower, while Caltex Australia's stock slumped as US energy giant Chevron Corp sold its entire stake at a discounted price.

Chevron's US$3.7 billion sale of its half stake in the fuel firm was Australia's biggest block trade ever.

The S&P/ASX 200 index ended down 1.25 per cent or 73.8 points at 5846.1, its lowest close since March 18.

New Zealand's benchmark NZX 50 index declined 0.6 per cent or 33.0 points to finish the session at 5821.3.

REUTERS