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Australia shares in biggest loss in three weeks on weak capex, Qantas
February 27, 2014 / 5:31 AM / 4 years ago

Australia shares in biggest loss in three weeks on weak capex, Qantas

(Updates to close)

SYDNEY, Feb 27 (Reuters) - Australian shares fell 0.5 percent on Thursday in its biggest one-day loss in three weeks on Thursday, hurt by an unexpectedly steep drop in business investment and a sharp fall in Qantas Airways Ltd after poor earnings.

The S&P/ASX 200 index fell 25.6 points to 5,411.4. The benchmark edged 0.1 percent higher on Wednesday.

Facing stiff competition in domestic and international routes, Qantas posted a hefty first-half loss and said it plans to cut 15 percent of its workforce.

New Zealand’s benchmark NZX 50 index slipped 0.2 percent or 8.9 points to 4,964.3. (Reporting by Thuy Ong; Editing by Jacqueline Wong)

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