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ALL ORDINARIES Down, Westpac (ASX:WBC) Shares Fall

Australia’s share market, or the All Ordinaries Index (INDEXASX:XAO)(ASX:XAO), is currently down 0.25% at lunch.
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Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is currently down 0.25% at lunch.

The Westpac Banking Corp (ASX: WBC) share price is down 0.83% in morning trade on unconfirmed reports that the bank has sent out letters to ‘risky’ property investors saying they have one month to find a new lender, according to the AFR. Other bank share prices are also lower with Australia and New Zealand Banking Group (ASX: ANZ) down by 0.88%.

The oil price continues to climb, providing a boost to oil businesses. The share price of Beach Energy Ltd (ASX: BPT) is up by 2.7% and Santos Ltd (ASX: STO) shares went up 2.1%. Conversely, Flight Centre Travel Group Ltd (ASX: FLT) has fallen 2.28% and Webjet Limited (ASX: WEB) is in the red by 5.2%.

The share price of rare earth miner Lynas Corporation Ltd (ASX: LYC) is down another 3% this morning after the company announced it could be facing a review of its Malaysian operations.

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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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