Business

Fri Jun 20 00:07:05 PDT 2008

(Updates to provisional close)

SYDNEY, June 20 (Reuters) – Australian shares fell 1.5 percent on Friday to a three-month closing low, as debt-laden infrastructure and property firms fell after Transurban Group <TCL.AX> and others cut their distribution forecasts due to rising credit costs.

The benchmark S&P/ASX 200 index <.AXJO> fell 78.3 points to 5,288.3, based on the latest available data, its lowest close since March 20. ($1=A$1.05) (Reporting by Denny Thomas) (

(denny.thomas@reuters.com; 61 2 9373 1812; Reuters Messaging: denny.thomas.reuters.com@reuters.net))

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