Energy stocks drag Aussie share market to finish firmly lower

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SYDNEY, Sept. 18 (Xinhua) -- The Australian share market finished firmly lower on Wednesday with energy shares undergoing a reversal and financials also weighing.

At the market close the benchmark S&P/ASX 200 index was down 13.70 points or 0.20 percent at 6,681.60, while the broader All Ordinaries index was down 10.50 points or 0.15 percent at 6,791.20.

Despite the market opening slightly higher the index continued to decline throughout the day, with oil stocks leading losses on a commodity price reversal.

"Global oil prices fell sharply overnight as Saudi Arabia confirmed that it had partially restored output to its damaged oil plants following drone attacks on the weekend while also claiming that production could be fully running by the end of September," Commsec market analyst James Tao said.

"The Brent crude price fell by 6.5 percent and the U.S. Nymex price fell 5.7 percent."

Meanwhile tech, industrials and materials all climbed as did healthcare -- while consumer stocks and financials weighed.

In the financial space, Australia's big banks sank with the Commonwealth Bank down (0.61 percent), ANZ down (0.22 percent), the National Australia Bank down (0.51 percent) and Westpac Bank down (0.30 percent).

Mining stocks were mixed with BHP down (0.26 percent), Rio Tinto up (0.29 percent), Fortescue Metals up (1.22 percent) and goldminer Newcrest up (2.03 percent).

The country's oil and gas producers sank with Oil Search down (2.06 percent), Santos down (1.66 percent), and Woodside Petroleum down (2.52 percent).

Australia's largest supermarkets dropped with Coles down (0.74 percent), and Woolworths down (0.22 percent).

Meanwhile telecommunications giant Telstra eased (0.56 percent), the national carrier Qantas took off (1.78 percent) and biomedical firm CSL edged lower (0.02 percent). Enditem

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