Sydney, July 26, 2007 (ABN Newswire) - The share market slipped further into the red today. Miners were affected by falling metal prices and the exodus from banking stocks continued with growing fears of an increase in interest rates next month.

The ASX 200 Index closed down 82 points at 6259, and on the futures market the SPI 200 shed 85 points.

Turning to company news now, Energy Resources of Australia has recorded a significant fall in first half earnings. Earnings fell from $19.86 million, to $5.67 million that's a drop of over 71 per cent. The uranium miner was affected by heavy rainfall over the Ranger Mine in late February and early March this year. The company says it's undertaken a number of strategies to increase the rate of water removal from the operational pit. The company had decided not to declare an interim dividend following the disappointing earnings result. The fall in earnings came in ahead of expectations... shares in Energy Resources closing 8.62% higher at $20.92

The full report is available at the following video and audio links.

Video Link

http://abnnewswire.net/lnk/EH570M1V


Audio Link

http://abnnewswire.net/lnk/E8917818

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