Australian stocks drift lower
Mumbai, Feb. 14 -- Australia stocks fell today amid weak global cues as heavy selling in US stocks overnight weighed on the sentiments. Gold, technology and financial stocks came under pressure and the S&P/ASX 200 dipped 0.74%. The All Ordinaries index pared 0.76% on the day. COMEX Gold futures slid below $2000 per ounce in Asian electronic trading, hitting a two-month low following sharp rally in the US dollar. The dollar index maintained three-month highs near 104.80 on Wednesday, following a nearly 1% surge in the previous session, driven by hot US consumer inflation data. The strong report pushed the index towards 105, its highest level in three months, making dollar-denominated commodities and assets more expensive for buyers holding...
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