Scoreboard: Oil slump

A further drop in oil prices sparked falls on European and US markets, while the Australian dollar lost more ground.

In US economic data, the ISM services index eased from 59.3 to 56.2, below the forecast of 58.0. Factory orders fell 0.7 per cent in November, a slightly larger decline than the 0.5 per cent expected fall. And the Redbook survey of weekly chain store sales was up 4.3 per cent in the latest week compared with a year ago, down from the 5.4 per cent annual gain in the previous week.

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