ASX opens lower as miners, banks dip

Australian shares have fallen as the mining and banking sectors led losses at the start of trade.

The benchmark S&P/ASX200 index was down 23.1 points, or 0.37 per cent, to 6,200.4 points at 1030 AEST on Thursday, while the broader All Ordinaries was down 19.9 points, or 0.32 per cent, to 6,296.6.

The heavyweight mining sector was down 0.75 per cent while finance shares fell 0.69 per cent on the morning Prime Minister Scott Morrison announced the general election would be held on May 18.

Mining giant BHP was down 0.68 per cent to $39.62, Rio Tinto was down 0.90 per cent to $100.91 and Fortescue Metals was down 0.61 per cent to $8.12.

ANZ was down 0.92 per cent to $25.445, Commonwealth was down 0.73 per cent to $70.23, NAB down 0.65 per cent to $24.47, and Westpac down 0.91 per cent to $25.665.

Telco Telstra was down 0.30 per cent to $3.28, while pharma giant CSL was down 0.91 per cent to $199.63.

Bank of Queensland shares fell 2.87 per cent to $9.14 after it announced its first-half cash earnings slipped eight per cent.

Whitehaven Coal was down 1.38 per cent to $3.925 after the miner lowered its production guidance for fiscal 2019.

By AAP

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