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Article: AUSTRALIAN INSURANCE STOCKS DIVE FOLLOWING TERRORIST ATTACKS.
- Article from:
- AsiaPulse News
- Article date:
- September 12, 2001
CopyrightCOPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SYDNEY, Sept 12 Asia Pulse - Insurance stocks have plunged on the Australian stock exchange today following the series of terrorist attacks in the US
overnight.
QBE Insurance Group Ltd was the worst hit, falling by more than 10 per cent, or A$1.114 (US$.58) to A$9.10 (US$4.71) by 1143 AEST.
AMP Ltd dived 7.85 per cent, or A$1.50 (US$.78), to A$17.60 (US$9.11) and NRMA Insurance Group Ltd plunged six per cent, or 19 cents, to A$3.14 (US$1.62).
Analysts said some of the selling was overdone with investors panicking in response to the US terrorist attacks on the World Trade Center and Pentagon.
"The insurance companies are in ...