Australian Shares Fall 0.7% as Banks and Miners Drag
The S&P/ASX 200 fell 0.7% to 8,775.30 and was on track for its worst session in two weeks. Santos slid after lowering the top end of its annual production forecast due to delays at its Alaska project.
Australian shares declined on Thursday, putting the benchmark on course for its steepest session in two weeks as losses in banks and miners weighed on the market. Santos shares also fell after the company cut the upper end of its annual production forecast, citing delays at its Alaska project. The S&P/ASX 200 (ASX:XJO) was down 0.7% at 8,775.30 by 0053.