THE stockmarket pulled back from its record high yesterday, with airline crashed.
The ASX 200 index closed 31.3 points lower at 6304.
4, while the All Ordinaries slipped 28.4 points to 6301.
However, both set new records during the day - the ASX 200 6341.
1 and the All Ords 6333.8 points - before the fall.
miners and banks had dragged the market down.
"We had a two-speed market today: the BHPs, the Rios and the banks all provided a pretty big drag on the index, while boost," he said yesterday.
"We have the budget tonight, so the banks might have been a bit on inflation.
news.
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Qantas opened at $5.22, bottomed out very early at $5.14 then retracked to close as it opened, at $5.
22, down 16c, or 2.97 per cent, after Airline Partners Australia conceded defeat.
It was the most traded stock on the market, with 164 million shares changing hands, worth $858 million.
Street overnight, the Dow Jones industrial average closing up 48.35 at a record of 13,312.97.
Locally, the big miners were weaker, with BHP Billiton $89.70.
The big banks were weaker as well, with ANZ retreating 5c to $30.
53, NAB dropping 23c to $44.32, Westpac $53.95.
St George fell 15c to $36.44.
The media sector was mixed, with News Corp gaining 6c to $28.
96, its non-voting shares up 3c to $26.83, and Fairfax fell 2c to $5.11.
and media respectively.
in water, power, transport and defence.
expectations of high single-digit earnings growth this year, due to markets and its beer business, Pacific Beverages.
The retailers were mixed, with Coles giving up 2c to close at $17.68, Harvey Norman dipping 6c to $5.23 and Woolworths shedding 18c to finish at $27.
59. David Jones was steady at $4.86.
He's a bona fide Hollywood star, and Steven Spielberg and Brad Pitt are among his fans, but what Eric Bana treasures most is his life as a suburban dad.
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