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Stock impact report

Australia shares drop for second week as virus cases rise, U.S. data disappoints [Reuters]

BHP Billiton (BHP)  More Company Research Source: Reuters
US:NYSE Investor Relations: bhp.com/investor-centre
PDF Australia shares drop for second week as virus cases rise, U.S. data disappoints (Updates to close) By Soumyajit Saha July 31 (Reuters) - The Australian benchmark index fell on Friday to its lowest close in three weeks, posting a second straight weekly fall as rising coronavirus cases fed fears of stricter lockdowns and dismal data from the United States battered risk sentiment. The country recorded its deadliest day of the coronavirus pandemic on Thursday with 14 deaths, taking total fatalities from the virus to 190, more than half of which have been in Victoria. “That we could see even stricter restrictions in Victoria as it continues to see elevated covid cases and growing clusters... will have a major impact on the economic performance for the country as a whole since it contributes a fair amount of output,” said James Tao, market analyst at CommSec. Further denting sentiment, data showed that the U.S. economy suffered its biggest blow since the Great Depression in the second quar [Read more]
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