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Market wrap

The share market has opened lower as expectations of a delayed cut in interest rates weigh on the major banks.

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Read more: ColesNational Australia BankAnsellANZBen Le BrunBHP BillitonColes owner WesfarmersCommonwealth BankCSLEconomicsFederal ReserveFortescueJulyJuneMay rate cutReserve BankResMedRio TintoSeven West MediaUS 80 cent markUS consumer confidence dataUS timeWednesdayWestpac