Around the World's Markets: AUSTRALIA

Thursday 11 June 1998 23:02 BST

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AUSTRALIAN STOCKS fell to their lowest level in five months amid concern economic growth will slow after two of the largest banks said they are increasing fixed home loan interest rates.

The benchmark All Ordinaries index fell 34.2 points to 2,558.7. The index has fallen for eight consecutive days. The Sydney-based international media group News Corp paced the decline, although it later rose in New York on news of the sale of its TV Guide unit to United Video for $2bn.

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Around the World's Markets: AUSTRALIA

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