Australia stocks slide at close

The Australian share market has closed weaker, with the big miners dragged down as the iron ore price hit a five-year low and investors cautious over foreign crises and geopolitical risks. At the 4.15pm (AEST) official market close, the benchmark S&P/ASX200 index was down 24.8 points, or 0.44 per cent, to 5,631.3, while the broader All Ordinaries index fell 22.5 points, or 0.4 per cent, to 5,632.1. Materials stocks were down, losing 0.6 per cent as a sector. BHP Billiton slipped 0.5 per cent to $36.02, while Rio Tinto inched down 0.32 per cent to $62.14. Perseus Mining slumped 3.61 per cent to $0.40 and Newcrest was down 1.62 per cent to $10.94. BC Iron defied the trend and was up 1.3 per cent to $2.33, while Lynas dropped 5.88 per cent to $0.16. The financials sector slipped 0.59 per cent. ANZ dipped 0.45 per cent to $33.52, while the Commonwealth Bank of Australia lost 0.16 per cent to $81.57. National Australia Bank fell 0.74 per cent to $35.05, while Westpac was down 0.82 per cent to $34.93, according to skynews.com