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Australian shares inch lower as banks and miners drag
Australian shares inched lower on Wednesday, as losses in banks and miners outweighed gains in gold and energy stocks, while a survey showing a sharp drop in October consumer sentiment also weighed on risk appetite. The S&P/ASX 200 index slipped 0.3% to 8,710.00 by 0028 GMT, after closing 0.6% higher on Tuesday. The Westpac-Melbourne Institute survey showed consumer sentiment slumped for a second straight month in October, as higher borrowing costs following Reserve Bank of Australia (RBA) tightening squeezed household finances and deepened cost-of-living pain. “With oil above US$100 and l...
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