Sydney, July 11, 2007 (ABN Newswire) - The Australian share market lost ground again today following a negative lead from Wall Street overnight following growing concerns from the U.S. subprime mortgage sector. Mining firms were also hit by a drop in base metal prices.
The ASX 200 Index close down 36 points at 6325, and on the futures market the SPI 200 shed 49 points.
BHP Billiton has re-jigged some of its senior management team ahead of the retirement of its chief executive Chip Goodyear on the 1st of October. Marcus Randolph was appointed as group executive and chief executive of ferrous and coal. Mr Randolph was previously chief organisation development officer. Meanwhile, Alberto Calderon takes over as group executive and chief commercial officer. A successor to Mr Kloppers as head of the non-ferrous business has yet to be announced. Shares in BHP Billiton were 1.72% lower at $37.80
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