THE Australian sharemarket fell slightly in quiet trading today as global equity markets awaited the outcome of negotiations to avoid the so-called fiscal cliff that threatens to slow the US economy next year unless lawmakers reach agreement on taxes and spending by December 31.
Banks were restrained by profit taking after strong gains this year,while iron ore miners hit multi-month highs after improved manufacturing data from China triggered further gains in iron ore prices on Friday.
Source:
http://www.theaustralian.com.au/business/markets/stocks-slip-as-fiscal-cliff-in-focus/story-e6frg916-1226538539900
