Australia shares fall 0.8 percent, banks lead
Australian shares fell 0.8 percent on Thursday with bank stocks leading the decline as optimism over the global economic recovery waned after the US Federal Reserve cut economic growth forecasts.
Australian shares fell 0.3 percent on Friday, surrendering early gains on worries about earnings in the troubled retail sector and as concerns about the European debt crisis flared again after S&P downgraded Spanish sovereign debt.