AUSTRALIAN STOCKS SLIDE: Here's what you need to know

Antek Marciniec walks a slackline between two cliffs in Sydney. Cameron Spencer/Getty Images

The Australia market closed down for the second day in a row, weighed by worries of Greece defaulting on its debt and by profit taking after 12 days of consecutive market gains.

Here’s the scoreboard:

  • S&P ASX 200: 5,800.60 -14.33 (-0.25%)
  • All Ordinaries: 5,757.40 -12.75 (-0.22%)
  • AUD/USD:0.7819 +0.0017 (+0.22%)

Nine out of ten sectors were weaker. The major banks were all down slightly, led by Westpac at $36.81, down 0.65%.

BHP was marginally stronger at $31.39, up 0.51%, and Woodside Petroleum was down 3.2% to $35.20.

The top stories on Tuesday:

1. ANZ-Roy Morgan survey. Australian consumer confidence flat after rate cut, gloom rises about the future.

2. Fading investment and dwindling projects in the resources sector. Engineering group Bradken posted a 64% fall in underlying profit to $13.8 million for the first half of the financial year. Bradken closed at $2.45, down 22%.

3. The China slowdown. The release of January CPI and PPI data from China screams slowing economic growth in the world’s second biggest economy.

4. Coal stages a huge rally. From a low of $56.20 less than a month ago, Newcastle Coal Futures for March Delivery on the Intercontinental Exchange rallied another $1.75 overnight to $66.70 a tonne.

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