SYDNEY, June 8 (Xinhua) -- A fall in industrial commodities has seen the Australian market open lower on Thursday.
At 10:25 (AEST), the benchmark S&P/ASX 200 index fell 26.30 points or 0.46 percent at 5,640.90, while the broader All Ordinaries index was down 27.00 points or 0.47 percent at 5,680.80.
"Iron ore prices fell to the lowest levels since July last year and oil absolutely tanked after a big build in inventory, when the market was expecting a draw down," CMC Markets chief market strategist Michael McCarthy told Xinhua on Thursday.
"That pressure on industrial commodities combined with a higher Australian dollar probably indicates that we are going to have a tough day's trading."
But, McCarthy also pointed out "it wouldn't be surprising to see the market change direction a number of times," as Australian trade data for April and import and an export growth figures from China are to be released later Thursday.
The Commonwealth Bank fell 0.45 percent, Westpac Bank dipped 0.30 percent, ANZ lost 0.47 percent and National Australia Bank was down 0.48 percent.
BHP slipped 0.37 percent, Rio Tinto was 0.59 percent lower, Fortescue Metals dropped 0.74 percent and Newcrest Mining plunged 1.19 percent.
Woodside Petroleum dived 2.28 percent, Santos sank 2.05 percent and Oil Search plummeted 2.59 percent.
Wesfarmers slumped 1.09 percent and Woolworths also lower at 0.66 percent.
Telstra slid 0.67 percent, Qantas was down 0.29 percent, while CSL shot up 1.87 percent.
