Australian Markets Ended Negative Today

• Australian markets closed on a negative note for a third straight day. The benchmark S&P/ASX 200 index dropped 45.2 points, or 0.8 per cent, to 5307.7, while the broader All Ordinaries fell 43.2 points, or 0.8 per cent, to 5304.6.

• Losses were led by the energy sector, which plunged 2.7 per cent. Materials lost 0.9 per cent, financials dropped 0.7 per cent, while utilities was the only sector posting a gain (+0.2 per cent).

• Australian dollar bounced higher in morning on the back of release of prepared comments of US Fed Reserve Chief Ben Bernanke in which he said that the central bank is set to keep interest rates lower for longer after the end of its quantitative easing program.

• The local currency (AUD) jumped after Ben Bernanke's remarks to 94.43 US cents and presently AUD is trading at 93.99 US cents.

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