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FEB 25, 2013 - MarketWatch

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Australian stocks fall after Italian election

SYDNEY (MarketWatch) -- Australian stocks fell sharply in early trading on Tuesday, after early polls tracking Italy's general-election results indicated a split that may trigger another election and more debt trouble for the European region. The S&P/ASX 200 index fell 1.3% to 4,992.30 in early trading, with energy, miners and banks reeling. Commonwealth Bank of Australia dropped 1.3%, BHP Billiton Ltd. fell 1.7% and Woodside Petroleum Ltd. dropped 1.5%. Insurer QBE Insurance Group Ltd. fell 5.4% after the firm posted an 8% rise in 2012 net profit to $761 million which nonetheless ... Read More

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