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AAP
AAP
Business
Derek Rose

Australian shares take a dive after days of gains

United States
Real estate was the biggest loser on Thursday, with industrials and utilities the only gainers. (Dan Himbrechts/AAP PHOTOS)

The local bourse has closed lower, pulling back after a roughly two-week Santa rally left shares at their best collective level since February. 

The benchmark S&P/ASX200 index on Thursday finished down 33.8 points, or 0.45 per cent, to 7,504.1, while the broader All Ordinaries fell 36.2 points, or 0.47 per cent, to 7,727.8.

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