Australian share prices closed down 0.40 percent on Monday as profit-takers moved in after a strong start to the session, dealers said. The benchmark S&P/ASX200 ended 15.7 points lower at 3,926 after hitting a high of 3,960, while the broader All Ordinaries slipped 9.1 points to 3,910.5. Market turnover was 2.77 billion shares worth 4.72 billion (3.49 billion US), with 648 stocks up, 451 down and 278 unchanged.
IG Markets institutional dealer Chris Weston said the market began well on the back of positive leads from offshore but investors were keen to realise profits after recent market volatility. BHP Billiton was down three cents at 35.28 dollars and Rio Tinto fell 2.32 dollars to 69.28.
Among the major banks, Commonwealth Bank declined six cents to 36.68 dollars, National Australia Bank fell 18 cents to 22.60, Westpac finished down 15 cents at 20.45 and ANZ closed down 27 cents at 16.22. Oil and gas producer Santos was in a trading halt at 17.09 after announcing it was raising as much as three billion dollars in a share offering, as it pays down debt and raises funds for a key liquefied natural gas project. Telecoms giant Telstra ended down five cents at 3.18.