Market slightly lower as Chinese manufacturing slows

The Australian sharemarket lost ground again today, as France and Germany clashed over Eurobonds and the HSBC purchasing managers index showed the seventh straight month of slowing Chinese manufacturing.

The ASX200 fell 0.27% to 4055.8 while the broader All Ordinaries index lost 0.30% to 4106.20.

The resources sector however shone, with the big miners finishing slightly higher in the afternoon. Three of the big four banks recorded losses.

The market started the day higher after an inspiring comeback from its US counterpart overnight, but pared gains as the day wore on and the Euro summit ended with disagreement.

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