Closing Bell 31st October: MinRes jumps after sell off oil assets to Gina. XJO falls as utilities weaker
Australian shares slipped midday as utilities and consumer staples weighed on the S&P/ASX 200 Index, down 0.2% or 12.1 points to 8168.3. Utilities led losses, with AGL Energy falling 6% after Barrenjoey downgraded it to underweight, citing the expiry of cheap coal and gas supply contracts, which prompted reduced future earnings estimates.