The Australian share market has slipped about one per cent, with the key ASX/200 index below the 5100-point mark, as investors give banks the cold shoulder.
All of the big four banks were in the red, with worst performer Commonwealth Bank down by more than two per cent while consumer stocks Dick Smith and Wesfarmers were off by more than one per cent and JB Hi Fi lost more than two per cent.
Resource stocks were mixed, with the smaller companies weaker and BHP Billiton flat, while Rio Tinto and Fortescue were higher.
KEY FACTS
* At 1213 AEDT on Tuesday, the benchmark S&P/ASX200 index was down 50.6 points, or 0.99 per cent, at 5,068.9 points.
* The broader All Ordinaries index was down 49.9 points, or 0.96 per cent, at 5,130.4 points.
* The December share price index futures contract was down 55 points at 5,062 points, with 18,569 contracts traded.
* At 1223 AEDT, national turnover was 1.15 billion securities worth $2.4 billion.
