Australian shares fall on dashed hopes for fresh stimulus; New Zealand gains [Reuters]
Westpac Banking Corporation (WBK)
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westpac.com.au/about-westpac/investor-centre
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Source: Reuters
Australian shares fall on dashed hopes for fresh stimulus; New Zealand gains (Updates to close) By Soumyajit Saha April 28 (Reuters) - Australian shares ended lower on Tuesday after the Treasury said it was not working on any new stimulus packages at the moment, while the country readied to relax some restrictions amid a decline in coronavirus cases. The S&P/ASX 200 index ended 0.2% lower to close at 5313.1. The benchmark rose 1.5% on Monday. Market participants were disappointed by the lack of new stimulus measures even as the underlying economic conditions remained dire, said Henry Jennings, senior analyst at Marcus Today. Measures of Australian business and consumer sentiment suffered their steepest falls on record in March, while the central bank governor has predicted unemployment to be around 10% by June. The subindex for energy stocks lost about 1.4% as oil prices dived on dwindling storage capacity and dismal demand. Oil explorers Santos Ltd and Oil Search Ltd ended 1.9% and 1
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